Word: kip
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Dates: during 1961-1961
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...rushed into Vientiane to show them. Favorite device: the import license. Laotians with political pull got import licenses for everything from feather dusters to nail polish to television sets-though there is no TV station in Laos. They could then buy foreign exchange at the official rate of 35 kip to the dollar, sell the dollars on the black market for 100 kip or more, and then rush back to buy more dollars. Corruption became appalling...