News

Circulation of riel rises 33%

The share of riel in circulation in the Kingdom grew by about 33 per cent year-on-year by last year’s end as deposits in riel increased by 37 per cent, said the National Bank of Cambodia (NBC) 2019 Review and 2020 Outlook report. The report noted ...

Hin Pisei
https://www.phnompenhpost.com/business/circulation-riel-rises-33

NBC sees increased confidence in riel after dollar buys in 2017

The central bank injected $915 million worth of riel into the economy last year by buying up US dollars with the local currency, stabilising the exchange rate amid higher demand for riel, according to the bank’s latest report. ...

Hor Kimsay
http://www.phnompenhpost.com/business/nbc-sees-increased-confidence-riel-after-dollar-buys-2017

China currency deals surge

As trade activity between Cambodia and China intensifies, banks are seeing an increase in deals transacted in yuan, the Chinese currency. Operating in Cambodia since 2010, Bank of China’s Phnom Penh Branch has been trying to promote business transactions in yuan, and has seen a significant ...

http://www.phnompenhpost.com/2013070866712/Business/china-currency-deals-surge.html

Fears over new bank note

The new 100,000 riel banknote depicting the late King Father Norodom Sihanouk is not just a pretty historical token. It will also help inject much needed cash into the economy, according to the National Bank of Cambodia. Although take-up will occur as older banknotes of other ...

http://www.phnompenhpost.com/2013051465591/Business/fears-over-new-bank-note.html

Cambodia to issue new 100,000-riel banknote featuring royal family pictures

Cambodia will launch a new 100,000-riel banknote (in equivalent to 25 U.S. dollars) in order to celebrate the sixtieth birthday of King Norodom Sihamoni on May 14, a central bank official said Wednesday. A sub-decree on the issuance of the new 100,000-riel banknote was signed ...

http://news.xinhuanet.com/english/world/2013-05/08/c_132368449.htm

China's ICBC offers RMB transfers

A new banking settlements system called CHANCES, dealing exclusively in the Chinese currency renminbi (RMB), aims to make trade between China and the ASEAN countries easier and less expensive. Owned and operated by the Industrial and Commercial Bank of China (ICBC), the CHANCES system stands for ...

http://www.phnompenhpost.com/index.php/2012102359361/Business/industrial-and-commercial-bank-of-china-offers-rmb-transfers.html

China is promoting the yuan for settling trade deals with the Kingdom

Due to the expansion of economic and business activities between Cambodia and China, since early August the Bank of China has been negotiation with National Bank of Cambodia (NBC) on the promotion of business transactions in Chinese yuan. It is part of a larger but quiet ...

National Payments System to Begin in 2012

The National Bank of Cambodia (NBC) will soon begin a national payment system that will allow the clearance of checks at all banks within a day, as well as facilitate intra-bank electronic payments, Nguon Sokha, director general of the NBC, said yesterday. Through the establishment of the national ...

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 ...

http://www.phnompenhpost.com/index.php/2012081557985/Business/cambodias-riel-stabilises-against-dollar.html

Prices and Monetary Developments

Price levels picked up during the first half of 2012 but will likely cool down in the second half of the year due to changes in energy prices and major food related items. Therefore, the inflation rate has been upwardly adjusted by 30 basis points to 4.8 percent ...

http://www.etmcambodia.com/

Looking back at riel history

For the past decade, Cambodia’s economy has steadily grown with GDP growth surpassing 5% on a compounded annual basis for the past twelve years. Nearly 58% of the populace is engaged in agriculture, while the service sector employs 26% and industry accounts for the remaining ...

http://www.phnompenhpost.com/index.php/2012071057308/Business/history-of-the-riel.html

KR Banking Chief Says Institution Was Sham

On his first day of questioning at the Khmer Rouge tribunal yesterday, Sar Kim Lomouth, the deputy director of the State Bank of Democratic Kampuchea, described how the national financial institution was nothing but a charade during the Pol Pot regime. Currency had been abolished and financial transactions eliminated under ...

KR commerce scrutinized

Democratic Kampuchea’s commerce committee was under the leadership of co-accused Khieu Samphan and Ieng Sary, testimony by former national bank deputy director Sar Kimlomouth revealed yesterday at the Khmer Rouge tribunal. Although the Khmer Rouge regime had eliminated currency and attempted to turn the nation into ...

http://www.phnompenhpost.com/index.php/2012060156534/National-news/kr-commerce-scrutinized.html

Acleda Eyes Expansion Into Burma

Cambodia’s largest bank, Acleda, is looking to get in early on Burma’s economic reawakening with plans to open three microfinance branches in the country as soon as January, the bank’s CEO said yesterday. In Channy said he discussed the plan on Monday with a visiting Burmese ...

The strange adventure of the Cambodian currency

On the post office square, a beautiful Art Deco building now houses the restaurant Van, an insurance company and the offices of the AFD (French Development Agency). An inquiring mind will not fail to notice on the gates the presence of little medallions with the ...

http://www.phnompenhpost.com/index.php/Special-Reports/the-strange-adventure-of-the-cambodian-currency.html

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