Riel-fication in Cambodia one step further?

Alex · Post by **Alex** » Tue Aug 29, 2023 8:45 am

John Bingham wrote: ↑Tue Aug 29, 2023 8:29 am
rgrowden wrote: ↑Tue Aug 29, 2023 8:06 am Only thing with using riels is the exchange rate seems to have gone to 4150.
It fluctuates but has been around that amount for about five years.

Yeah the last time I got riel from an ATM, I got 4137 KHR/USD, so if a shop that lists its prices in dollar charges me 4150 like in this example, I think I'll survive. Or use ABA Pay to pay in dollars anyway.

Bluenose · Post by **Bluenose** » Tue Aug 29, 2023 9:26 am

CIMB stopped giving anything less than $100 back in February. However, if I ask their ATM for 80,000 riel it dispenses a 50,000, a 20,000 and a 10,000 which is convenient.
Haven't found a Canadia with smaller than $100 for ages.
The only time I withdraw USD now is to pay my rent, otherwise I always withdraw in Riel and most of the places I spend it on a daily basis price in Riel. On Sunday the Canadia ATM used an exchange rate of 4147.

Gazzy · Post by **Gazzy** » Tue Aug 29, 2023 10:17 am

Yes, best to pay dollars with the ABA app. If cash, use Riel. Many shops and cafés can't change $100 anyway, and if you're in a girlie bar..invitation to get fleeced.

cabron · Post by **cabron** » Tue Aug 29, 2023 11:00 am

Gazzy wrote: ↑Tue Aug 29, 2023 10:17 am Yes, best to pay dollars with the ABA app. If cash, use Riel. Many shops and cafés can't change $100 anyway, and if you're in a girlie bar..invitation to get fleeced.

Why in the he'll using $100. in coffee shops, even in the USA they want take them.

Bluenose · Post by **Bluenose** » Tue Aug 29, 2023 11:20 am

cabron wrote: ↑Tue Aug 29, 2023 11:00 am
Gazzy wrote: ↑Tue Aug 29, 2023 10:17 am Yes, best to pay dollars with the ABA app. If cash, use Riel. Many shops and cafés can't change $100 anyway, and if you're in a girlie bar..invitation to get fleeced.
Why in the he'll using $100. in coffee shops, even in the USA they want take them.

Just pondering, $100 is half the monthly minimum wage. Imagine trying to use a banknote with the same relative worth in any Western country - in the UK most places won't even accept 50 quid notes

Kenr · Post by **Kenr** » Tue Aug 29, 2023 12:07 pm

cabron wrote: ↑Tue Aug 29, 2023 11:00 am
Gazzy wrote: ↑Tue Aug 29, 2023 10:17 am Yes, best to pay dollars with the ABA app. If cash, use Riel. Many shops and cafés can't change $100 anyway, and if you're in a girlie bar..invitation to get fleeced.
Why in the he'll using $100. in coffee shops, even in the USA they want take them.

Isn’t that about what it costs at a Starbucks in the US?

nndavid · Post by **nndavid** » Tue Aug 29, 2023 1:18 pm

On the title of this topic, I think this may help with using riel more often in transactions, but this is only a small part of riel-ification or de-dollarisation. The real challenge is getting people to save in riel, which is still a long way off, given the lack of riel-denominated financial and other assets. It will happen slowly, as trust grows, but it's not going to happen because of what ATMs dispense.

Bongmab69 · Post by **Bongmab69** » Tue Aug 29, 2023 3:52 pm

I useally fly in with 500-euro-notes and change them on central market on 136 street straightto Riels, it depends ofcourse how much you get, i remeber in februari the rate was only 4035 what means you hardly win 1% if counting on 4000 as usual. If you can get now 4135 that makes +3%, if you pay everything in riels, at the end of the year, thats ofcourse a big difference. I saw hardly places where they "protest" if you pay in Riels counting on 4000. Shanghai bar on 51-street was one of them, they have printed on their bill in tiny letters the amount in KHR and will show it to you if you pay in KHR. I only use dollars with my Wise-card when paying rent and other places who dont extra-charge you for using a CC !!

John Bingham · Post by **John Bingham** » Tue Aug 29, 2023 4:34 pm

I useally fly in with 500-euro-notes and change them on central market on 136 street straightto Riels, it depends ofcourse how much you get, i remeber in februari the rate was only 4035 what means you hardly win 1% if counting on 4000 as usual.

Surely you were getting more than that for a Euro? It's 4480 at the moment and the rate is the same as it was in February.

Bongmab69 · Post by **Bongmab69** » Tue Aug 29, 2023 4:44 pm

Yesyes, ofcourse, but they always change first to dollars and then to riels, they win twice, but as the rate is almost spotless, sometimes even more then the official rate EUR/USD i dont care !! I fly in next week, will tell you !! (if the chinese in Xiamen-airport dont kidnapp me in transit !!)

Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

Re: Riel-fication in Cambodia one step further?

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