Spending dollars vs spending Riel in Cambodia

Daum Penh Stalker · Post by **Daum Penh Stalker** » Tue Jan 29, 2019 6:25 am

Where is it better to pay Riel instead of US dollars? When you go to a supermarket, will you pay less if in Riel?

explorer · Post by **explorer** » Tue Jan 29, 2019 6:32 am

Daum Penh Stalker wrote: ↑Tue Jan 29, 2019 6:25 am Where is it better to pay riel instead of dollars? When you go to a supermarket, will you pay less if in riel?

In most places the prices are so similar, it is easy to pay in dollars for large purchases and riel for small purchases.

I normally avoid the mini-marts which charge a bit more if you pay in riel.

There are few places which require dollars, and a few places which require riel.

fax · Post by **fax** » Tue Jan 29, 2019 6:55 am

explorer wrote: ↑Tue Jan 29, 2019 6:32 am There are few places which require dollars, and a few places which require riel.

Where is that? The ones I go to have the exchange rate taped to the counter at 4000:1 give or take few hundred.

explorer · Post by **explorer** » Tue Jan 29, 2019 7:12 am

fax wrote: ↑Tue Jan 29, 2019 6:55 am
explorer wrote: ↑Tue Jan 29, 2019 6:32 am There are few places which require dollars, and a few places which require riel.
Where is that? The ones I go to have the exchange rate taped to the counter at 4000:1 give or take few hundred.

There was a pharmacy in Sihanoukville a couple of years ago that would only take riel. Near the golden lions. They had a currency exchange outside. I believe they had other branches, but I have not been to any of them. They said they were promoting the riel for the good of Cambodia. I dont know if it is still there.

Some businesses buy things in dollars, and like to sell things in dollars. If you were to pay in riel, the price would be such that they could change it back to dollars and not lose money. I have had someone ask me if I would exchange riel for dollars, as she had to pay dollars for her purchases.

fax · Post by **fax** » Tue Jan 29, 2019 8:12 am

Interesting, I have never encountered it myself. Did the pharmacy own the exchange and desperately tried to rescue one failing business by killing any chance of success of the pharmacy?

I can understand why if someone imported something in dollar they want to sell it in dollar to make it easier. On the other hand I can also see the value of import goods justifying any complication caused by the currency exchange.

explorer · Post by **explorer** » Tue Jan 29, 2019 8:20 am

fax wrote: ↑Tue Jan 29, 2019 8:12 am Interesting, I have never encountered it myself. Did the pharmacy own the exchange and desperately tried to rescue one failing business by killing any chance of success of the pharmacy?

I believed they owned the exchange.

I think they had the ideology that Cambodia should use riel like every other country uses their own currency.

It did a lot of business, as it was in a good location.

I dont know what happened in the last 2 years.

johnny lightning · Post by **johnny lightning** » Tue Jan 29, 2019 10:28 am

If it's like everything else in Snooky, it's gone now. I knew the place and it's policy. Not sure she understood the irony of not accepting the currency that would be required to purhase her goods as no foreign company is going to take Cambodian monopoly money as payment!

Johnny

explorer · Post by **explorer** » Tue Jan 29, 2019 10:59 am

Many foreigners would probably not mind using reil all the time.

However, Cambodian business people dont trust it, so it is unlikely to happen any time soon.

bucknaked · Post by **bucknaked** » Tue Jan 29, 2019 11:04 am

that pharmacy was still there in December, the old battle axe working in the exchange outside

Pizzalover · Post by **Pizzalover** » Tue Jan 29, 2019 1:26 pm

Ironically even the state museums charge in USD. You can pay in riel but they would add a premium as do the supermarkets, mini marts.

You usually gain a little if paying in riel in the market, restaurants that charge in riel. 1-2% depending on the time of the year. Guesthouses do the same. So riel is ok. The argument with the small bills is also long gone with 20 and 50K riel bills around. For a tourist the difference wont make a noticeable difference but for an expat reducing grocery and other bills by 1 percent is nice. For the nay sayers: I know, you always go to that bank which offers a percent less interest on your deposit.

I have not seen a fake 5K riel bill but quite a few single USD bills (in Siem Reap). The latter are used by supermarkets and other preferably after dark when it is harder to detect those.

Spending dollars vs spending Riel in Cambodia

Spending dollars vs spending Riel in Cambodia

Re: Spending dollars VS. spending Riel.

Re: Spending dollars VS. spending Riel.

Re: Spending dollars VS. spending Riel.

Re: Spending dollars VS. spending Riel.

Re: Spending dollars VS. spending Riel.

Re: Spending dollars VS. spending Riel.

Re: Spending dollars VS. spending Riel.

Re: Spending dollars VS. spending Riel.

Re: Spending dollars VS. spending Riel.

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