Laotian Kip

LAK is the currency of Laos. It is subdivided into 100 att. The exchange rate of LAK is pegged to the dollar. 1 dollar = 8,000 LAK. Laos is a landlocked country in Southeast Asia, bordered by Myanmar (Burma), China, Vietnam, Cambodia, and Thailand. The country covers an area of 236,000 square kilometers (91,400 square miles), making it about the size of the United Kingdom. The population of Laos is 6.8 million (2011 estimate). The capital and largest city is Vientiane. The official language is Lao. Laos is a communist state and the only landlocked country in Southeast Asia. The economy of Laos is heavily dependent on agriculture, with rice being the main crop. Other important agricultural products are coffee, tobacco, sugarcane, and cotton. Laos is also a major producer of timber. The currency of Laos is the kip (LAK). One kip is divided into 100 att. The kip is pegged to the US dollar at a rate of 1 dollar = 8,000 kip.