Cambodia is an original country that attracts more and more tourists. Payment for a hotel room, purchase of food or bills in a restaurant, entertainment expenses can be made in this country using its national currency. What are its features? What alternatives can there be?
General information
First, let's look at some noteworthy facts about cash payments in the state in question. The currency of Cambodia is riel (in the international banking classification it is designated as KHR). Corresponds to 100 sen.
For the first time, this national currency of Cambodia was put into circulation in 1955, replacing the Indo-Chinese piastre. During the Khmer Rouge period (in 1975-1980), operations using the national currency were practically not carried out in the state. In economic calculations , foreign currencies were used.
But later the situation changed. In 1980, the riel was reintroduced into circulation. However, in practice, Cambodians still prefer to settle in dollars. The currency of Cambodia is significantly inferior to it in popularity and is used mainly for the exchange and implementation of small transactions.
Banknotes of Cambodian Currency
One way or another, in the economy of the state, the national currency is drawn with a certain degree of intensity. In trade, real banknotes of various denominations are used: from 50 to 100,000 KHR. In the state of Cambodia during various periods of its economic development, high inflation was observed. In this regard, banknotes with a face value of up to 500 KHR are extremely rare in circulation, since it can be difficult to set real prices for goods and services in them.
What does the currency of Cambodia look like? Photo banknotes riel presented in the article.
The inscriptions on the banknotes are represented mainly by phrases in the Khmer language, but their denomination is indicated in Arabic numerals, as well as in Latin letters.
It should be noted that coins are rare in Cambodia, mainly banknotes are common. However, metal riels are also available.
The practice of financial settlements
As we noted above, the currency of Cambodia (riel) is significantly inferior in popularity to the US dollar. This is due, not least, to inflation processes during certain periods of the country's economic development. Prices in most stores, hotels, food outlets are indicated in American currency. The same can be said of trading in private markets.
It is worth noting that a Cambodian seller can issue change from the purchase of goods paid in dollars in local currency. At the same time, its course, as some travelers note, in many cases may not be too profitable. Therefore, in case of small purchases, it is advisable to have dollars with you, at least in banknotes of 1 or 5 USD. In this case, it will be less likely that the seller will give change in the national currency of the state.
Where can I buy the national currency of Cambodia
So, what currency is in Cambodia, we now know. But where can I buy it?
In principle, such a need for most financial relations in the state may not arise. As we noted above, in Cambodia, the dollar may well be used as the main currency. However, if the traveler is holding, for example, Chinese yuan, then they will have to be exchanged for the same dollars or already for reels. For these purposes, it is advisable to contact official exchange offices at banks in large cities.
It is worth noting that the currency of Cambodia is not subject to exportation from the state. Therefore, it makes little sense to stock up on riels in case of future travels. Moreover, due to inflationary processes, the purchasing power of this currency may slightly decrease. Although, it should be noted, the national government of Cambodia has recently been paying considerable attention to the issue of the sustainability of the purchasing power of real estate. So, in particular, a fixed rate of the national currency of the state to the dollar was fixed. The financial authorities of Cambodia have also achieved certain successes in resolving inflation problems.
Note that in Cambodia, the use of plastic cards is not too common. Therefore, most likely, tourists will have to carry out exchange operations. But at the same time, we should take into account the specifics of using local currency considered by us and correctly allocate our own finances from the point of view of their conversion into dollars or riels.