Convert Laotian Kip to Mongolian Tugrik
Please provide values below to convert Laotian Kip [LAK] to Mongolian Tugrik [MNT], or Convert Mongolian Tugrik to Laotian Kip.
How to Convert Laotian Kip to Mongolian Tugrik
1 LAK = 6.09327129441551 MNT
Example: convert 15 LAK to MNT:
15 LAK = 15 × 6.09327129441551 MNT = 91.3990694162326 MNT
Laotian Kip to Mongolian Tugrik Conversion Table
| Laotian Kip | Mongolian Tugrik |
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Laotian Kip
The Laotian Kip (LAK) is the official currency of Laos, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Laotian Kip was introduced in 1952, replacing the French Indochinese piastre, and has undergone various redenominations and reforms to stabilize the economy and control inflation.
Current Use
Today, the Kip remains the primary currency in Laos, used in all financial transactions, with coins and banknotes issued by the Bank of the Lao P.D.R. and widely accepted throughout the country.
Mongolian Tugrik
The Mongolian Tugrik (MNT) is the official currency of Mongolia, used for all monetary transactions within the country.
History/Origin
Introduced in 1925, the Tugrik has undergone various reforms and redenominations, especially after Mongolia's independence from China and during the transition from a socialist economy to a market economy.
Current Use
Today, the Tugrik is widely used in Mongolia for everyday transactions, with banknotes and coins circulating throughout the country. It is also traded in foreign exchange markets.