Description: Nice CU. The riel is the currency of Cambodia. There have been two distinct riel, the first issued between 1953 and May 1975. Between 1975 and 1980 the country had no monetary system. A second currency, also named "riel", has been issued since 20 March 1980. Since the 1990s citizens have used the riel alongside the U.S. dollar at the well-known rate of 4,000 KHR/USD for retail payments. Popular belief suggests that the name of the currency comes from the Mekong river fish, the ri?l ("small fish" in Khmer). It is more likely that the name derives from the high silver content Spanish-American dollar whose value is eight reales, a coin widely used for international trade in Asia and the Americas from the 16th to 19th centuries. In rural areas the riel is used for virtually all purchases, large and small. However, the United States dollar is also used, particularly in urban Cambodia and tourist areas. In areas near the Thai border, the Thai baht is also accepted. Dollarization started in the 1980s and continued to the early 90s when the United Nations contributed humanitarian aid, refugees began sending remittances home, and inflation as high as 177% per year eroded confidence in the riel. From 1991-1993, the United Nations Transitional Authority in Cambodia stationed 22,000 personnel throughout Cambodia, whose spending represented a large part of the Cambodian economy. While the riel remains in common use in the provinces, the major cities and tourist areas heavily use the U.S. dollar. The latter is dispensed in ATMs, accepted in virtually all purchases, and USD quotations are required to price hotel rooms, airline tickets and significant financial transactions. Everyone knows the exchange rate of 4,000 KHR/US$ for retail trade, with riel paid out for change in fractions of a dollar. In June 2020, the National Bank of Cambodia announced the phaseout from wide circulation of small U.S. dollar banknotes of Item ordered may not be exact piece shown. All original and authentic.
Price: 10 USD
Location: Portsmouth, New Hampshire
End Time: 2025-01-11T23:25:05.000Z
Shipping Cost: 6.25 USD
Product Images
Item Specifics
Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
Return policy details:
