Laos is one of the developing countries whose currency is called kip or LAK. Such a country attracts about 2million tourists annually from different countries of different continents. As most of the transactions in Laos need the local currency, the tourists will need to exchange their original currencies from the national banks. This article will show you several advantages and disadvantages to this operation.
The historical sites and temples in several Laotian cities such as Luang Prabang, Vientiane, and Vang Vieng in addition to the wildlife spots like Nam Et-Phou Louey attract a large number of tourists to the country. Laos has additional tourist attractions such as the wonderful natural scenes including waterfalls and forests. All of these attractions in addition to the economic and industrial transactions will throw more lights on the advantages and disadvantages of the Laotian currency.
One of the most important disadvantages of the Kip is its low value. For example the American dollar can be exchanged by about 8,051.06 LAK which is considered as a large amount of money. This way, if you need to exchange 100 dollars, you will need a bag to carry your money in. The solution of this problem is that you should exchange a little amount of money to buy the needed food and drinks, rent a car, or pay for your accommodation. As for the large transactions, it is recommended to use the American dollars instead. Another disadvantage of the LKA is that it you can’t use this currency outside Laos. So, if your trip in the country comes to an end, you should exchange the remaining money to your currency again.
The advantage of this currency is that you will feel that everything is inexpensive because you will be certainly a millionaire in Laos. You will be happy when you know that there are not coins in this currency. You will find paper currency with different values and colors to be easy to distinguish.