Use of “Riel” Increases 17% in Last Two Decades

The use of “Riel” (Cambodian currency) has increased around 17 percent on average in daily transactions and 26 percent in banking during the last two decades.

The figures were shared by H.E. Ms. Neav Chanthana, Deputy Governor of the National Bank of Cambodia (NBC) while presiding over the “Riel Day, Celebrating the 37th Anniversary of the Re-introduction of the Riel”, at the Royal University of Law and Economics (RULE), Phnom Penh on Mar. 20.

The use of Riel has been reinforced steadily, said H.E. Ms. Neav Chanthana, adding that a survey of NBC and Japan International Cooperation Agency (JICA) showed that Riel has been circulated throughout the country, especially at rural areas while U.S. dollar is present only in urban areas mainly Phnom Penh capital.

The NBC deputy governor also laid stress on the significance of Riel use for the whole society and national economy.

At the event, the participants who are representatives from government ministries/agencies, international organisations, chambers of commerce, financial institutions, business community and university, welcomed the good progress in the use of Riel and vowed to further promote its use, aiming at strengthening national identity and monetary sovereignty for the sake of social and economic development, according to an NBC’s press release.

Source: Agency Kampuchea Press