The kip is the official currency of Laos. The official currency symbol: ₭ or ₭N. The currency’s name is derived from a Lao word that means “ingot.”
Before the French took control of the province in 1945–1946, the Free Lao government in Vientiane issued a series of paper money in quantities of 10, 20, and 50 att and 100 kip. Then, in 1955, the kip leu was re-established, replacing the French Indochinese piastre at par. In 1976, a currency called the Pathet Lao kip was introduced to replace the Royal kip due to the Pathet Lao taking over the country. Three years later, the Laos kip was integrated again as a legal tender. In 1979, banknotes were introduced in denominations of 1, 5, 10, 20, 50, and 100 kip, followed by the 500 kip note added in 1988, the 1000 kip in 1992, the 2000 and 5000 kip in 1997, the 10,000 and 20,000 kip in 2002 and 50,000 kip in 2006.
The 50,000 Lao kip note front design features the portrait of Kaysone Phomvihane (1920 – 1992), who was the first leader of the Communist Lao People’s Revolutionary Party from 1955 until he died in 1992, and who served as the first Prime Minister of the Lao People’s Democratic Republic from 1975 to 1991 and then as the second President from 1991 to 1992, followed by the Pha That Luang temple, located in Vientiane (Capital city) and the Emblem of Laos.
The reverse of the note illustrates the Presidential Palace located on the banks of the Mekong River in Vientiane (Capital city). The lettering of the note is presented in the Lao language. This note is part of the 2004 series, and its color is purple on red, blue, and multicolor.