What you need to know about money matters in Laos | Tours laos, Laos travel

What you need to know about money matters in Laos

Lao Kip

Besides the best time to visit, places to go, dishes to eat, activities to enjoy, money matter in Laos is also one of the things you need to think about when planning a visit to this Land of Millions Elephants. To get more information, you can click: Indochina travel Laos

Currency

Lao Kip

Lao Kip- source: internet

Lao local currency is called Kip (LAK), which is issued in denominations of 100000, 50000, 20000, 10000, 5000, 2000, 1000 and 500 Kip notes. At the time of writing, the exchange rate is around 8258.52 kip to US$1. Commonly used for larger purchases are the universal US Dollar and Thai baht. Once you have left Laos, Kip is useful only as wallpaper as it is a non-convertible currency. Kip will be neither accepted nor exchanged by banks outside Laos. In most major tourist centers across the country, you can find international access ATMs dispensing US dollars.

It is strongly recommended to exchange Thai Bath and/or US Dollars to Lao local currency. Otherwise, the nightmare of settling your bills by converting from one currency to another will definitely be what you will suffer. The second reason for the exchange is that since while you might have paid for your purchases in both of US dollars and Thai Bath, Laotian Kip will be returned to you. Hence, you will be losing out a lot on more than you might have expected! Exchanging money will certainly save you one less headache and give you a chance to enjoy your holiday to its fullest. Indochina travel tours

Taking cash & cards

Dollars are also accepted in Laos

Dollars are also accepted in Laos- source: internet

Even though the Kip is the official currency of Laos, people widely accept the US Dollar in many transactions, so it is highly recommended to take some US Dollars in cash.

In Luang Prabang and Vientiane, hard currency such as: British Pounds can be exchanged relatively easily in the banks or at licensed exchange shops. In other big towns, US dollars and Thai Baht are also readily accepted in many hotels, restaurants and markets. However, only US dollars are accepted in many smaller hotels. Therefore, it is best to bring with you some US Dollar bills in small denominations and you should have some Kip with you whilst traveling in the rural parts of this country. Keep your exchange receipts so as to exchange any remaining Kip back to a hard currency when you get out of this country as Kip holds no value outside Laos.

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