Riel stabilizes versus dollar
The stabilisation of the riel over the first half of this year is a reflection of increased confidence in using riel in the economy as well as improvements in the agricultural sector, according to economists and the National Bank of Cambodia (NBC). The slowdown in the US economy has led to the depreciation of the dollar against other currencies, which has also been a contributor to the appreciation of the riel this year. … At the same time, Cambodia’s projected growth is about seven per cent this year and the inflation rate stands around five per cent. … An NBC survey showed the riel was the currency of choice for most people, but experts said the dollar was the main currency for conducting business in Cambodia. …
