The official currency of the Kingdom of Cambodia is riel. For some time this state was called Kampuchea. One riel includes one hundred senam. But, this bargaining chip is no longer used. The currency of Cambodia and its history are described in this article.
What currencies are used in Cambodia
At the same time, most of the local population prefers the American dollar. This currency became widespread after the introduction of the UN peacekeeping military mission on the territory of the country. The local currency riel is mainly used for small trading operations or as a bargaining chip for the US dollar.
In addition to US dollars and local currency, the calculation is allowed in Lao bales or Vietnamese dongs. True, the last two currencies are mainly used in border areas. Large acquisitions and significant financial transactions are possible only with the help of the US dollar.
History of Cambodian Riel
Many travelers do not know what currency Cambodia is. What is her story? Paper riel bills and metal coins began to be issued since April 1, 1980. To date, coins in denominations of fifty, one hundred, two hundred and five hundred riels are used in circulation. They were made in 1994, and put into circulation in 1995.
At the same time, paper notes in denominations of fifty, one hundred, two hundred, five hundred, one thousand, two thousand, five thousand riels are in circulation. High inflation has led to the fact that the national currency of Cambodia is rapidly devalued. The government of the country had to take measures and put into circulation notes of an even larger denomination. So, at the moment, in addition to those already listed, banknotes of ten thousand, twenty thousand, fifty thousand and one hundred thousand riels are used. Below is the currency of Cambodia, a photo of paper notes.
Another consequence of high inflation was the gradual disappearance from circulation of banknotes whose denomination is identical to existing coins. These include bills of fifty, one hundred, two hundred and five hundred riels. However, they remain a legitimate payment instrument. Heavily worn out banknotes, for example, issued before 1995, are gradually withdrawn from circulation. Such a currency of Cambodia is no longer legal tender.
Features of money exchange in Cambodia
It should be noted that up to 2.5 million foreign tourists visit this state annually. Cambodia attracts a friendly and meek disposition of the main part of the country's population - the Khmers. But first of all, tourists come here because of the beautiful nature, exotic and delicious local cuisine, good warm climate and low prices.
The currency of Cambodia can be purchased at bank branches and exchange offices of the state capital and major cities. In addition, this can be done in resort areas. There are no restrictions on the amount of exchange transactions in Cambodia. It will be the way to say that in banks and hotels as a means of payment accept travelers checks and plastic cards.
In this case, preference is given to the American dollar. It should be noted that in the provincial areas of Cambodia, it is practically impossible to pay for goods and services by bank transfer. In addition, it must be emphasized that there are no ATMs in the country either. It is important to note that in Cambodia, the limit on the import and export of foreign currency is legislatively established. It amounts to the equivalent of 10 thousand US dollars.
Working conditions of exchange points.Import and export of Cambodian currency
At the same time, subject to special permission from the National Bank of the Kingdom of Cambodia, you can cross the border with a lot of cash. The currency of Cambodia riel cannot be taken out of the country - in Cambodia it is strictly prohibited. Most Cambodian banks start working with clients early - at 8:00 in the morning. Banks are open for tourists until 14:00, and on Sunday they do not work at all. Some facilities may work on Saturdays, but only in the morning.
But you can exchange foreign currency for riels or vice versa at exchange points six days a week from half past seven in the morning until seventeen. At the same time, a rather high crime rate in Cambodia should be taken into account. Therefore, it is not recommended to carry out foreign exchange transactions in the "black market". In such a situation, you can easily become a victim of local scammers, for whom it is a good business.
