Dollar or Riel
Dollar or Riel
After 6 year I will be visit PP again. Is it better to use Riel then dollars nowadays and can I just cash out Riels in the ATM by my Mastercard. ?
Re: Dollar or Riel
$100 & $50 are still floating around & accepted, but not so many dollars in lower denominations - get used to the 50k, 20k & 10k riels instead; and yes ATMs dispense Khmer Riel also in the big denominations like 50k/20k.
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
Re: Dollar or Riel
If you're just visiting Cambodia, then the usual rules still apply - small payments are usually done in Riel, larger payments are done in dollars, although Riel is perfectly fine for larger payments also. The only reason smaller payments under a dollar can't be done using dollars is because $1 is the smallest denomination.
However, if you're staying long term, get yourself an ABA account. I don't think I'm alone in saying this, but hardly anyone uses cash in the KOW anymore. Absolutely everything and anything can be paid for via ABA. I don't even carry a wallet with me anymore. Just my phone. Can't remember the last time I went to an ATM and can't remember the last time I paid for anything in cash.
However, if you're staying long term, get yourself an ABA account. I don't think I'm alone in saying this, but hardly anyone uses cash in the KOW anymore. Absolutely everything and anything can be paid for via ABA. I don't even carry a wallet with me anymore. Just my phone. Can't remember the last time I went to an ATM and can't remember the last time I paid for anything in cash.
Last edited by xandreu on Sat Jun 10, 2023 7:20 pm, edited 1 time in total.
The difference between animals and humans is that animals would never allow the dumb ones to lead the pack.
Re: Dollar or Riel
in fact u can use both any place, in my eyes its easier to get only 1 of the 2. If you fly in with euros, go to central market on 136 street and change your euros straight to riels.
Most places they count the riel at 4000 to the dollar, but you get 2 or 3% more at central market, if you stay long and spend a lot, it can make some difference, on every 1000 euros you win about 25 euros. And its just easier to not mix riels and dollars. In februari when i was last time there i had no problem to get 50000 or 100000 riel-notes if changing my euros. What skips the main problem to carrie riels: to much notes . . .
Most places they count the riel at 4000 to the dollar, but you get 2 or 3% more at central market, if you stay long and spend a lot, it can make some difference, on every 1000 euros you win about 25 euros. And its just easier to not mix riels and dollars. In februari when i was last time there i had no problem to get 50000 or 100000 riel-notes if changing my euros. What skips the main problem to carrie riels: to much notes . . .
- DeparRudeAnts
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Re: Dollar or Riel
I pay everything in cash except rent w/electricity, which I use my US bank credit card which doesn’t charge a fee.
My US bank doesn’t charge any fees when using my debit card so I withdraw $1,000 at a time from Bred Bank ATM with only a $4 fee that they charge. Cheaper than transferring money here.
My US bank doesn’t charge any fees when using my debit card so I withdraw $1,000 at a time from Bred Bank ATM with only a $4 fee that they charge. Cheaper than transferring money here.
Re: Dollar or Riel
Yes. I live in Cambodia and go out every day. And when I go out, I often buy things. And every time I do, I use ABA to pay.
I'm not sure how 'whether I get out much' is relevant to my comment.
Care to expand on your rather vague and seemingly irrelevant comment?
The difference between animals and humans is that animals would never allow the dumb ones to lead the pack.
Re: Dollar or Riel
Yeah you pretty much have the choice between cash and cashless nowadays. I haven't been to many places lately where ABA Pay hasn't been an option. And I do get out a lot when I'm in Cambodia, it's why I go there.xandreu wrote: ↑Sat Jun 10, 2023 8:47 pmYes. I live in Cambodia and go out every day. And when I go out, I often buy things. And every time I do, I use ABA to pay.
I'm not sure how 'whether I get out much' is relevant to my comment.
Care to expand on your rather vague and seemingly irrelevant comment?
- Freightdog
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Re: Dollar or Riel
Wouldn’t this largely be determined by what type of visitor you are? If you are most likely frequenting western oriented establishments, like bars and restaurants, then you might well be doing most of your purchases in Electronic or Cash US dollars.
If you’re more inclined to mixing day to day at a local level, then you might find a greater proportion of transactions in Cash riels.
As a daily effort, I’d say we as a family split things roughly 50/50 between US$ and KH Riels, out and around Phnom Penh, although that’s starting to shift towards Electronic dollars, and Cash riels, with significantly less Electronic riels.
But we have the convenience of a local bank account, and take money out in either currency to suit- like government official stuff which is US $ cash, in the main.
There are plenty of occasions where cash Riels is the only way, but that’s largely in the provinces.
If you’re more inclined to mixing day to day at a local level, then you might find a greater proportion of transactions in Cash riels.
As a daily effort, I’d say we as a family split things roughly 50/50 between US$ and KH Riels, out and around Phnom Penh, although that’s starting to shift towards Electronic dollars, and Cash riels, with significantly less Electronic riels.
But we have the convenience of a local bank account, and take money out in either currency to suit- like government official stuff which is US $ cash, in the main.
There are plenty of occasions where cash Riels is the only way, but that’s largely in the provinces.
- DeparRudeAnts
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Re: Dollar or Riel
Can I expand on my rather vague and seemingly irrelevant comment?
Yes, you're just wrong.. hardly anyone uses cash?
This is still very much a cash economy
Freightdog wrote: ↑Sat Jun 10, 2023 10:21 pm If you’re more inclined to mixing day to day at a local level, then you might find a greater proportion of transactions in Cash riels.
sumfin smart
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