Convert Cuban Convertible Peso to Laotian Kip
Please provide values below to convert Cuban Convertible Peso [CUC] to Laotian Kip [LAK], or Convert Laotian Kip to Cuban Convertible Peso.
How to Convert Cuban Convertible Peso to Laotian Kip
1 CUC = 4.62332380124172e-05 LAK
Example: convert 15 CUC to LAK:
15 CUC = 15 × 4.62332380124172e-05 LAK = 0.000693498570186258 LAK
Cuban Convertible Peso to Laotian Kip Conversion Table
| Cuban Convertible Peso | Laotian Kip |
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Cuban Convertible Peso
The Cuban Convertible Peso (CUC) was a currency used in Cuba, primarily for tourism and foreign transactions, pegged to the US dollar.
History/Origin
Introduced in 1994 to replace the peso convertible, the CUC was used alongside the Cuban peso (CUP). It facilitated foreign trade and tourism. The CUC was phased out starting in 2020 as part of Cuba's monetary unification efforts, with its value being absorbed into the CUP.
Current Use
The CUC is no longer in circulation as of 2021. Cuba has transitioned to a single currency system using the Cuban peso (CUP), and the CUC is considered obsolete.
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.