Lao Kip in Eritrean Nakfa

LAK Lao Kip

Country of application:
Lao Peoples Democratic Republic

Coin denominations in circulation:
10, 20, 50 atam.

Denominations of banknotes in circulation:
500, 1000, 2000, 5000, 10,000, 20,000, 50,000, 100,000 bales.

History reference:
The kip is the currency of Laos. Laos (officially the Lao Peoples Democratic Republic) is a socialist state in Southeast Asia, located inside the Indochina peninsula. It has common borders in the eas...t with Vietnam, in the south with Cambodia (Kampuchea), in the north with China and Myama (Burma), in the west with Thailand (Siam). The capital of the Lao Peoples Democratic Republic is the city of Vientiane, there are no other large cities in Laos. It is mainly used as a bargaining unit for the US dollar and Thai baht. Previously issued coins of 10, 20 and 50 atats do not participate in circulation due to their low cost.

ERN Eritrean Nakfa

Country of application:
Eritrea

Coin denominations in circulation:
1, 5, 10, 25, 50 cents, 1 nakfa.

Denominations of banknotes in circulation:
1, 5, 10, 20, 50, 100 nakfa.

History reference:
The Eritrean nakfa is the national currency and fiat money of the State of Eritrea, a state in East Africa. Nakfa was introduced in 1997 when it replaced the Ethiopian Birr after the War of Independe...nce. The country went through seven years of stabilization, reconstruction and development before the start of a new border war with Ethiopia in 1998. In mid-2018, a turning point took place in the external environment of Eritrea. Ethiopia signed a peace treaty with Eritrea in July 2018. Eritrea has begun to normalize relations with neighboring countries. In November 2018, the UN Security Council lifted sanctions on Eritrea. The current account surplus will remain high in 2020, driven by Eritrean remittances from abroad (12% of GDP) and mining exports (25% of GDP).