Discussion to stop use of US $1, $2 and $5 notes

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explorer
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by explorer »

US dollars will continue to be used in Cambodia. A lot of things are imported, and they can't use Riel.

If they did ban US dollars, the Riel would devalue at a rapid rate. Cambodian businessmen know this, and that is why they continue to use US dollars.
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by Duncan »

Duncan wrote: Tue Jun 02, 2020 7:36 am What is the exchange rate for USA Dollar to Riel at the small money changers today ?
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by explorer »

Duncan wrote: Tue Jun 02, 2020 7:36 am What is the exchange rate for USA Dollar to Riel at the small money changers today ?
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by glennb6 »

a perfect example for the use of crypto. banks don't need to hold big reserves just to make the fiat to fiat exchanges, exchanges are much faster, and technically all a person would need is a cell phone.
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by explorer »

I went past a small money changer, and it was.

4120

4135

I think the riel might go to 5000 soon. It may stop there, or may keep going.

It has nothing to do with the $1 and $5 notes.
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by khmerhamster »


explorer wrote:I went past a small money changer, and it was.

4120

4135

I think the riel might go to 5000 soon. It may stop there, or may keep going.

It has nothing to do with the $1 and $5 notes.
Are you basing this prediction on anything?
Or have you just pulled the number out of the air.

I remember about 10 years ago the riel went over 4200. That's the highest its been in recent history.
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by Kammekor »

khmerhamster wrote: Fri Jun 05, 2020 7:11 am
explorer wrote:I went past a small money changer, and it was.

4120

4135

I think the riel might go to 5000 soon. It may stop there, or may keep going.

It has nothing to do with the $1 and $5 notes.
Are you basing this prediction on anything?
Or have you just pulled the number out of the air.

I remember about 10 years ago the riel went over 4200. That's the highest its been in recent history.
During the 10 years I've been here I experienced a high of over 4,400 for one USD.

Over the last week I experienced money changers being much more strict on exchanging USD notes to riel. I've heard the same story from three different people - they (the exchange booth) claim the money isn't spotless and they cut 2-5k riel from the exchanged Khmer money.

One note came from me, and I'm sure it was spotless. If you change USD for riels be careful and insist on the full rate.
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by khmerhamster »

Kammekor wrote:
khmerhamster wrote: Fri Jun 05, 2020 7:11 am
explorer wrote:I went past a small money changer, and it was.

4120

4135

I think the riel might go to 5000 soon. It may stop there, or may keep going.

It has nothing to do with the $1 and $5 notes.
Are you basing this prediction on anything?
Or have you just pulled the number out of the air.

I remember about 10 years ago the riel went over 4200. That's the highest its been in recent history.
During the 10 years I've been here I experienced a high of over 4,400 for one USD.

Over the last week I experienced money changers being much more strict on exchanging USD notes to riel. I've heard the same story from three different people - they (the exchange booth) claim the money isn't spotless and they cut 2-5k riel from the exchanged Khmer money.

One note came from me, and I'm sure it was spotless. If you change USD for riels be careful and insist on the full rate.
I can't remember that.

Here is official rates since 2008.
https://tradingeconomics.com/cambodia/currency
April 2010 was a high - around 4250, its possible that small money changers were offering rates in excess of this...​But 200​Riel​ above official rate sounds a lot.
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by daeum_tnaot »

As others Have noted, this change is window dressing.
However, if they decide to go full on de-dolarization I think it will be a big mistake as dollarization is a big factor driving inward investment to Cambodia. Of course this is controversial but welcome anyone to prove me wrong.
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Re: Discussion to stop use of US $1, $2 and $5 notes

Post by Kammekor »

khmerhamster wrote: Fri Jun 05, 2020 9:15 pm
Kammekor wrote:
khmerhamster wrote: Fri Jun 05, 2020 7:11 am
explorer wrote:I went past a small money changer, and it was.

4120

4135

I think the riel might go to 5000 soon. It may stop there, or may keep going.

It has nothing to do with the $1 and $5 notes.
Are you basing this prediction on anything?
Or have you just pulled the number out of the air.

I remember about 10 years ago the riel went over 4200. That's the highest its been in recent history.
During the 10 years I've been here I experienced a high of over 4,400 for one USD.

Over the last week I experienced money changers being much more strict on exchanging USD notes to riel. I've heard the same story from three different people - they (the exchange booth) claim the money isn't spotless and they cut 2-5k riel from the exchanged Khmer money.

One note came from me, and I'm sure it was spotless. If you change USD for riels be careful and insist on the full rate.
I can't remember that.

Here is official rates since 2008.
https://tradingeconomics.com/cambodia/currency
April 2010 was a high - around 4250, its possible that small money changers were offering rates in excess of this...​But 200​Riel​ above official rate sounds a lot.
Maybe my memory is flawed, but the current 4,1xx rate is nothing exceptional. Offering a bit over the official rate is common practice.
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