US Dollar Drops Below 4,000 Riel With Agricultural Harvest
An increase in agricultural trading has caused the value of the US dollar to dip below 4,000 riel in the past three consecutive days, as there is now a higher demand for the Cambodian riel, money exchangers and an official from the National Bank of Cambodia said yesterday. Nguon Sokha, director-general of the National Bank of Cambodia, said that the high demand for riel is seasonal, and often comes at the same time as farmers and agricultural traders flood into the city to trade their products. She also rejected that external impacts, such as the current weakening of the US dollar or the European sovereign debt crisis, were the cause for the dip. …
