- Kung-fu Hillbilly
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Image: Khmer Times
21 Jan 2020
The National Bank of Cambodia (NBC) has stated that there has been a remarkable increase in the use of Riel, the national currency, with a 33 percent growth recorded in monetary circulation and a 37 percent growth in deposits.
Chea Chanto, Governor of NBC, in stating this added that the banking sector has continued to make progress and gained confidence from the public and investors. The active assets of banking and financial institutions increased by 24.5 percent, while loans had increased by 26 percent
There are now more than 7.5 million deposit accounts and 3.1 million loan accounts in Cambodia. While an astonishing five million Cambodians use e-payment services.
Currently, there are 30 different Riel banknotes, of which a commemorative one of 15,000 Riel, two for 100,000 Riel; three for 50,000 Riel; two for 20,000 Riel; three for 10,000 Riel; three for 5,000 Riel; three for 2,000 Riel; five for 1,000 Riel; three for 500 Riel; one for 200 Riel, three for 100 Riel, and one for 50 Riel.
https://www.khmertimeskh.com/50681857/u ... ntral-bank
And I'm at the bank at least twice a week and usually only see US dollars being given or taken. I think if there was a 400,000r or 500,000r note comparable with a $100 note it would be used more.
If you've spent time at an ABA deposit atm machine and watch the ungodly amount of $100 bills being pumped into them non stop you understand.
Sent from my CPH1823 using Tapatalk
Oh wait, the Central Bank also claims there are coins in circulation (https://www.nbc.org.kh/english/about_th ... lation.php), so not exactly reliable...
My son has cottoned on to the fact they are useless, but my daughter hasn't....
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