Discussion to stop use of US $1, $2 and $5 notes
Re: Discussion to stop use of US $1, $2 and $5 notes
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.
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.
## I thought I knew all the answers, but they changed all the questions. ##
- Duncan
- Sir Duncan
- Posts: 8149
- Joined: Tue Jun 03, 2014 8:22 pm
- Reputation: 2357
- Location: Wonder Why Central
Re: Discussion to stop use of US $1, $2 and $5 notes
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Re: Discussion to stop use of US $1, $2 and $5 notes
ABA Buys 4,117.00
ABA Sells 4,129.00
## I thought I knew all the answers, but they changed all the questions. ##
Re: Discussion to stop use of US $1, $2 and $5 notes
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.
Re: Discussion to stop use of US $1, $2 and $5 notes
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.
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.
## I thought I knew all the answers, but they changed all the questions. ##
-
- Expatriate
- Posts: 646
- Joined: Thu Jun 16, 2016 2:28 pm
- Reputation: 374
Re: Discussion to stop use of US $1, $2 and $5 notes
Are you basing this prediction on anything?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.
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.
Re: Discussion to stop use of US $1, $2 and $5 notes
During the 10 years I've been here I experienced a high of over 4,400 for one USD.khmerhamster wrote: ↑Fri Jun 05, 2020 7:11 amAre you basing this prediction on anything?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.
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.
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.
-
- Expatriate
- Posts: 646
- Joined: Thu Jun 16, 2016 2:28 pm
- Reputation: 374
Re: Discussion to stop use of US $1, $2 and $5 notes
I can't remember that.Kammekor wrote:During the 10 years I've been here I experienced a high of over 4,400 for one USD.khmerhamster wrote: ↑Fri Jun 05, 2020 7:11 amAre you basing this prediction on anything?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.
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.
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.
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 200Riel above official rate sounds a lot.
-
- Expatriate
- Posts: 760
- Joined: Sun Mar 04, 2018 1:43 pm
- Reputation: 142
Re: Discussion to stop use of US $1, $2 and $5 notes
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.
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.
Re: Discussion to stop use of US $1, $2 and $5 notes
Maybe my memory is flawed, but the current 4,1xx rate is nothing exceptional. Offering a bit over the official rate is common practice.khmerhamster wrote: ↑Fri Jun 05, 2020 9:15 pmI can't remember that.Kammekor wrote:During the 10 years I've been here I experienced a high of over 4,400 for one USD.khmerhamster wrote: ↑Fri Jun 05, 2020 7:11 amAre you basing this prediction on anything?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.
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.
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.
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 200Riel above official rate sounds a lot.
-
- Similar Topics
- Replies
- Views
- Last post
-
- 16 Replies
- 5436 Views
-
Last post by Bill Shakey
-
- 22 Replies
- 6779 Views
-
Last post by Marty
-
- 6 Replies
- 2312 Views
-
Last post by Clutch Cargo
-
- 4 Replies
- 13701 Views
-
Last post by Fridaywithmateo
-
- 2 Replies
- 1201 Views
-
Last post by ressl
-
- 11 Replies
- 695 Views
-
Last post by WildAlaskaKen
Who is online
Users browsing this forum: Amazon [Bot], Google [Bot], johnny lightning, Soriya and 1196 guests