It is an official currency of Laos since 1955 with currency code LAK and symbol ₭ or ₭N. it is subdivided into 100 att. Before the control of French authorities in the region, the free Lao government issued a series of paper money in denomination of 10, 20, 50 and 100kips between 1945 and 1946. In 1955, Lao kips was introduced by replacing the French Indochinese piastre, it was subdivided into 100 att. In 1953, the Institute d’Emission des Etats du Cambodge, du Laos et du Vietnam issued dual banknotes in kip and piastre as well. The banknotes of 1, 5, 100 and 100 kip/piastres were issued. 1n 1957, notes only in kips were issued in denomination of 1, 5, 10, 20 and 25 kips printed and issued by the Security Banknote Company. Banknote of 1 and 5 kips were printed by Bradbury & Wilkinson, banknote of 500 printed by Thomas De la Rue, banknote of 100 printed by Banque de France and banknote of 10 again by Thomas De la Rue in 1962.
In 1976, the old Lao Kips was introduced in some areas which were under the control of Pathet Lao. But on 16th December 1979, the old Lao Kips was replaced with the new kips at rate 100 to 1. Recently the frequently used banknotes of 500, 1000, 2000, 5000, 10,000, 20,000, 50,000, 100,000 kip and rarely used 1, 5, 10, 20, 50, 100 kip and coins of 10, 20, 50 att are generally circulation in Laos economy.