Cambodia Securities Exchange (CSX) Introduces US Dollar Trading Option to Facilitate Investors

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Cambodia Securities Exchange (CSX) Introduces US Dollar Trading Option to Facilitate Investors

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Cambodia News (Phnom Penh): The Cambodia Securities Exchange (CSX) has recently implemented a new measure allowing investors to buy and sell shares using US dollars, in addition to the Cambodian Riel. This move aims to provide shareholders with the option to use both currencies for their transactions.

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H.E. Hong Sokhour, the Royal Government Delegate in charge and Director General of CSX, highlighted this development during a listed company forum on May 8, 2024. He noted that since the introduction of this new measure, there has been an increase in funds held in trading accounts. Previously, after trading in Riels, a significant amount of money was withdrawn. However, with this new option, investors can now choose between the two currencies, making trading more convenient.

H.E. Hong Sokhour further explained that most shareholders had been converting their Riels to dollars before withdrawing from their trading accounts, and then converting dollars back to Riels for trading purposes. He emphasized that CSX continues to support the Cambodian Riel. The implementation of the dollar settlement function for trading operations aims to reduce exchange rate risks and facilitate investors who maintain dollar cash accounts.

CSX is poised to become the best option to support business owners in need of capital, especially in the current unfavorable economic situation, through diversification of capital, whether through the sale of shares or loans.

H.E. Hong Sokhour encouraged all business owners to utilize other people's money to expand and drive the growth of their business potential in a sustainable manner, moving towards the digital era. Additionally, CSX will become a place that offers excellent financial instrument options, creating passive income and providing financial freedom for general investors.

As of early 2024, the 23 companies listed on CSX have raised approximately $379 million to expand their businesses. The number of accounts has increased to 49,000 following the launch and operation of the online trading account opening function, which provides convenience and speed to investors.

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