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Use of Riel increases significantly, says central bank
Posted: Tue Jan 21, 2020 3:02 pm
by Kung-fu Hillbilly
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
Re: Use of Riel increases significantly, says central bank
Posted: Tue Jan 21, 2020 3:22 pm
by lostjeremy
In all my years here I've still never seen a 50R note.
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.
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Re: Use of Riel increases significantly, says central bank
Posted: Tue Jan 21, 2020 3:37 pm
by frizzie77
I've seen lots of 50R notes, but that was more than 10 years ago. I thought they were taken out of circulation around that time, but according to the bank's website they're not. Strange, as indeed since then I've not seen one.
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...
Re: Use of Riel increases significantly, says central bank
Posted: Tue Jan 21, 2020 3:47 pm
by John Bingham
The useless 50 Riel note was around for a short period in about 2006, the only place I remember getting them was in change in supermarkets - then they went straight in the drawer. As for 100,000 notes, I've had just one single one in my entire time here.
Re: Use of Riel increases significantly, says central bank
Posted: Tue Jan 21, 2020 3:52 pm
by hunter8
An average lifetime of a banknote is 6 months. If they are not constantly replaced, after one year they will be a rare sight. 50r may still exist in law but new ones are not printed.
Re: Use of Riel increases significantly, says central bank
Posted: Tue Jan 21, 2020 6:48 pm
by Mishmash
When Gasoline is 3650 or 3750 a litre, and you top up an odd amount of liters, then they DO have a 50 in case you ask.
My son has cottoned on to the fact they are useless, but my daughter hasn't....