The riel is the official unit of currency in Cambodia; however there is another currency that can be used widely in this country. Let’s find out more about Cambodia currency with Liberty Exchange!
Cambodia has been famous as an attractive tourist destination in Southeast Asia for its massive heritage imbued with Khmer history, friendly people as well as affordable travel costs. If you plan to visit this beautiful country and wonder about the currency people use in Cambodia, this article is made for you.
What currency does the Cambodian use?
The Cambodian Riel (symbolized by KHR) and the US dollar (symbolized by USD) are the two most commonly used currencies in Cambodia.
While the Riel is the official currency of this country, the USD can be replaced in daily purchases. In some scenarios, the USD can be prioritized more than the Riel, although it is Cambodia’s money currency.
As an advice, it’s a good idea to have a mix of both Cambodian Riel and US Dollars when traveling to Cambodia. While US Dollars are widely accepted, you may encounter situations where only Riel is accepted or where you may get a better price if you pay in Riel.
Cambodian Riel, US Dollar in the daily life of Cambodians
The Cambodian Riel is mainly used for small spending under 5 USD
The denomination of Riel includes 100 Riels, 500 Riels, 1000 Riels, 2000 Riels, 5000 Riels, 10,000 Riels, 20,000 Riels, 50,000 Riels, and 100,000 Riels.
Cambodian people often use Riel for buying stuff, snacks in the market, or spending for small living utensils,… cost less than 5 USD. Therefore, you should prepare Riel for convenient exchange in daily transactions.
Normally, 1 USD = 4000 KHR , which is much lower than the exchange rate at the money exchange counters. Therefore, to avoid exchange rate loss, locals and tourists often change dollars to Riel for daily expenses.
- Explore how currency works: How To Convert Currency – Understand Exchange Rates
The Cambodian Riel is mainly used for small spending under 5 USD
The US Dollar is the most commonly used in Cambodia
If the Riel is mainly used in daily transactions, the US Dollar (USD) is more widely used in business or in trading goods, products, and services of major purchases. In addition, the US Dollar is often used in transactions at supermarkets, shopping centers, shopping services, payment for restaurant and hotel meals, long-distance taxi rentals, shopping for advanced technologies, and so on.
FYI: In 2019, Cambodia issued 15,000 Riel notes to mark the 15th anniversary of King Norodom Sihamoni’s coronation. This special denomination note was recognized by Reconnaissance International as the “Best New Banknote” at the 18th High-Security Printing Asia Conference (HSP Asia) in Yokohama, Japan.
USD and Riel are both common Cambodia currencies
Things about to change for the USD in Cambodia
The power of the USD in Cambodia currency system started to change gradually due to the effort of Cambodian authorities on reducing the dependency on USD, starting with the small value of dollars being opted out of Cambodian daily basis.
The bills under $5 are not anymore accepted to be paid in USD in Cambodia, people must use the Riel. Also, the $10 to $20 value is accepted but the change will be in riel. The “de-dollarization” campaign of Cambodia may spread its effect to more significant aspects of the Cambodia market in the future.
How to check Cambodia currency rate
The exchange rate between currencies varies day by day, especially in the current situation when the global economy is longer static. By checking the exchange rate day by day, you can easily find the most optimal currency rate to exchange on purpose.
Understanding that, Cambodian Riel (KHR) and US Dollar (USD) exchange rates are constantly updated on Liberty’s website and the Liberty Exchange app. You can easily look up exchange rates and exchange money with no effort!
Download and explore the Liberty Exchange app now!
Liberty App for exchanging Cambodia currency
Other advices before visiting Cambodia
To make your trip to Cambodia become wonderful, Liberty has these advices for you to consider:
- When exchanging money, it’s best to do so at official exchange counters or banks to avoid being scammed with counterfeit notes. You should also check the exchange rate before exchanging money to make sure you’re getting a fair deal.
See more: Top 7 Best Places To Exchange Currency In Cambodia
- It’s important to be cautious when using ATMs in Cambodia. Skimming and card cloning are not uncommon, so it’s a good idea to use ATMs located inside banks or hotels, as they tend to be more secure. It’s also a good idea to cover the keypad when entering your PIN and to be aware of your surroundings.
- When receiving change, be sure to check the notes carefully to ensure that they are genuine and not damaged or torn. It’s also a good idea to carry small denominations of both Riel and US Dollars, as some vendors may not have changed for larger notes.
- Finally, while Cambodia is generally a safe country to visit, it’s always a good idea to take basic safety precautions such as being aware of your surroundings, not carrying too much cash or valuables, and avoiding unlit or deserted areas at night.
See more: Learn more about The best currency exchange in Cambodia
In conclusion, Cambodia currency situation is unique and may require some preparation for travelers. The Cambodian Riel and US Dollar are both widely used, with the Riel typically used for small transactions and the USD for larger purchases. It’s important to be aware of exchange rates and check with your bank to ensure your cards will work in Cambodian ATMs.
