If you are planning to travel or work in Laos, change Lao money Where is probably your concern. The following article will help you answer this question and find out how much is the Vietnamese currency in Laos currency as well as 1 Lao kip.
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What is Lao currency? Lao currency denominations
Lao currency is also known as Lao Kip, abbreviated as LAK. Lao kip is mainly circulated in the country, where most transactions are using paper money.
Lao Kip money also has distinctive features of names and symbols such as:
- According to the ISO 4217 standard, the official abbreviation of Kip is LAK .
- International Business name: LAK
- Currency symbol: or Women
The Lao currency denominations being circulated on the market today are:
- 1 kip, 5 kip, 10 kip, 20 kip.
- 100 kip, 1000 kip, 5000 kip.
- 10,000 kip, 20,000 kip, 50,000 kip.
1 Lao Kip Equals How Much Vietnam Dong?
Many people do not know how much is 1000 Lao Dong in Vietnamese Dong? Or how much is 2000 Lao Dong in Vietnamese Dong? Based on the data on April 29, 2021, the exchange rate of 1 Kip to Vietnam Dong is:
1 Lao Kip (LAK) = 2.45 VND.
Thus, from this formula, we can easily convert the value of different denominations of the Kip.
- 5 LAK = 12.4VND
- 10 LAK = 24.8 VND
- 20 LAK = 49.6 VND
- 50 LAK = 124 VND
- 100 LAK = 248 VND
- 200 LAK = 496 VND
- 500 LAK = 1240 VND
- 1000 LAK = 2480 VND
The table below is the exchange rate of Lao Kip at some banks in Vietnam, you can refer to:
| Bank | Buying | Buy transfer | Sell | Sell transfer |
| BIDV | — | 2.07 | 2.54 | — |
| MBbank | — | 2.23 | 2.66 | 2.66 |
| Sacombank | — | 2.15 | — | 2.45 |
| Vietinbank | — | 2.25 | 2.70 | — |
| VRB | 2.45 | 2.80 |
(Unit: Dong)
Note: The above Lao Kip exchange rate table is for reference only and may be changed at some times of the day.
Procedures for exchanging Lao currency at the Bank
According to regulations at some banks, customers wishing to exchange foreign currencies need to prepare the following documents:
- Personal documents (ID card or Passport).
- Certificate of purpose of using foreign currency.
- Letter of request to buy/sell foreign currency.
- Declare the amount of foreign currency to be exchanged.
The specific steps to change Laos currency are as follows:
- Step 1: Go to a bank address near where you live
- Step 2: Show your personal documents and ask the bank teller to change the money
- Step 3: Fill in the money change transaction form (the bank form is issued by the teller)
- Step 4: The teller authenticates and enters information into the system
- Step 5: The customer signs the transaction receipt and receives the exchanged amount
Where's the Trust to change Lao currency?
Where should I exchange money in this country? Change in Vietnam or change to Laos? If traveling to Laos by road, you can change money at the border. This way is quite convenient, but the exchange rate is high because they mostly do business for profit.
If you are traveling by plane, you can choose to exchange money as follows:
Exchange Lao Dong In Vietnam
To exchange money in Vietnam, you can go to the following addresses:
Ha Trung Street, Hanoi
This is a neighborhood specializing in exchanging, buying and selling foreign currencies with large and small gold shops. You can exchange money on Ha Trung street at Quoc Trinh gold shop because this is a long-standing, reputable Lao currency exchange address, the exchange rate is more competitive than other shops.
Ha Tam Gold Shop
Address: No. 2 Nguyen An Ninh, Ben Thanh, District 1, City. Ho Chi Minh.
If you change foreign currency at Ben Thanh market, you can go to Ha Tam gold shop. This is a reputable foreign currency exchange address and does not force prices. Here the selling rate is low but the buying rate is higher than other gold shops.
Therefore, you are not afraid of losing money when exchanging foreign currencies. The downside is that there are no small denominations and you can't choose the denomination you want.
Vietnam - Laos Joint Venture Bank Hanoi Branch
Address: 452, Xa Dan, O Cho Dua Ward, Dong Da District, Hanoi.
The bank was established with the cooperation of state banks and Laos. Therefore, high reputation, absolute safety. If you are afraid of fake money or high exchange rates, you can safely go to the bank.
In addition, if you need different denominations of this country's currency, you can also ask the bank to change it for you. However, when going to the bank, you need to bring full documents and documents to prove your purpose to Laos. Only then will the bank accept foreign currency exchange for you.
Money Exchange in Laos
Some big cities like Vientiane, Luang Prabang always have financial services to change Vietnamese currency to Lao Kip or vice versa. Currency exchange services in big cities are usually simple, including credit cards, withdrawing money from ATMs, etc.
Airport
Like Tan Son Nhat or Noi Bai airports, airports in this country also serve safe exchange services with large amounts of money. But the biggest downside is that they charge you the highest rate.
ATM
In the city or town centers, there are ATMs that allow you to withdraw with Lao Kip or USD. But the ATM also charges 20,000 Kip when withdrawing Kip and cash is allowed to withdraw from 120,000 to 150,000 / time. This option is suitable for those traveling to Laos without Kip, USD or Thai Bath.
Exchange offices
You can also go to money changers in the country, usually tourist attractions or nearby markets. They usually have better rates than the airport. Just look for the big billboards that clearly state the exchange rate.
Bank
Changing money at the bank is the safest but it takes time to locate and wait for your turn to enter local banks such as: ANZ, BCEL. The working hours of these banks are Monday – Friday, 08:30 AM – 03:30 PM.
Notes When Changing Lao Dong
Like many other currencies, when converting Lao Dong to Vietnamese Dong, you need to note the following points:
- Update the correct exchange rate before making the decision to exchange money
- Find a bank or reputable establishment that is licensed to exchange foreign currency.
- Confidentiality of personal information during and after the currency exchange process.
- Check the accuracy of money exchange information and information in legal documents.
Conclusion
Understanding about Lao money and 1 Lao Kip is equal to how much Vietnam Dong can be easier for you when you want to change. Moreover, when exchanging money, you should also choose the most favorable exchange rate and choose multiple denominations to be more convenient in the spending process.
Information edited by: lamchutaichinh.vn
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