Laos Releases 50,000 Kip Note

[george]

Laos releases 50,000 kip note

BANGKOK: -- Laos' central bank on Tuesday put into circulation a new 50,000-kip note, worth about 5 dollars (a little less than 200 baht), to facilitate cash transactions, state media reports said.

Previously, Laos' highest denomination was the 20,000-kip note.

The Lao National Bank said the new denomination would not increase inflation, aid Radio Vientiane said in a broadcast monitored in Bangkok.

The order to issue a 50,000-kip note was signed by Prime Minister Bounnhang Vorachith on January 11, the state-run radio station said.

--DPA/Bangkok Post 2006-01-17

[richard10365]

That should make my wallet smaller when I travel to Laos.

[astral]

When I went to Turkey a few years ago I brought back a 1 million Lire note for my son,

it was worth about 1 UK pound in those days, probably $1 today.

Inflation is an awful prospect.

[Rinrada]

Changed days now...but collectors items...

Now...1.00 GBP United Kingdom Pounds = 2.35471 TRY....Turkey New Lira

Use to change a $100 spot for something like 1,250,000 dong about 10 years ago when the (VN Gov) brought out what they called a 1 million Dong (promis)Note ..sort of half way between a Bank note and a chitty.

Was in Brazil (Rio) for a while when the rate (crusados)was increasing daily although the hard currency price didnt change.

You went into a Hotel on Copacabana which charged say $15 a night and as long as you paid in $$ no problem. Payment by local currency however was a case of Yes Sir for tonight $15 or 35,000 c.....35,500c.....36,000c........stop..... I"ll take the room.

When it got to something like 2 billion to the dollar they just changed the name to something like NEW crusado and started agin.

[astral]

Now...1.00 GBP United Kingdom Pounds = 2.35471 TRY....Turkey New Lira

It is all very well moving the decimal point, but it does not help unless they address

the underlying problem of rampant inflation.