Go Cambodia and enjoy this really beautiful country

your-money-in-cambodia

Take extra care of your money when traveling. Be aware of your surroundings, and in particular, who is standing nearby. I hope that the following hints and tips will help

your-money-in-cambodia Hints, tips and commonsense:

Don’t carry more money than you really need to have with you.

In busy markets, producing a fat wallet, full of cards and cash may not be wise.

Tip: 4000/4100 Riel is considered to be equal to one US Dollar by most traders.

Your-Money-in-Cambodia new banknotes

16 December 22: For those unaware, 2 new banknotes have entered circulation here in Cambodia. There are new 200 and 2000riel notes, as detailed in the Khmer Times at the following link:

your-money-in-cambodia Small denomination US dollar bills 

In a step towards de-dollarisation, small denomination US dollar bills are to be withdrawn,. No dates declared, but the $1, $2, and $5 bills will, however, become noticeably scarce. Nevertheless, for the time being, they will remain legal tender.

your-money-in-cambodia

One of the popular supermarket chains is displaying product prices only in Riel although no problem accepting dollars.  “Note to self: learn to read and understand written Khmer numerical script”

An observation & remedy

your-money-in-cambodia: Spending Riel instead of dollars, particularly when prices are shown in Riel, is sensible, as eventually, we may have to get used to it.

your-money-in-cambodia and Mental Dexterity!

However, mental arithmetic is not everyone’s strong point. When products are priced in Riel, & payment is made with dollars, & the change is a mixture of Riel & dollars, mental dexterity can be stretched to its outer limits, for calculating quickly, what the change should be. Therefore, whenever possible, avoid mixing currencies & have a selection of small/medium denomination Riel notes to hand. Moreover, the smallest value note in circulation is the orange 100 Riel, and be aware too, that there are no coins, KHR or USD.

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Large denomination bank notes

Cambodia, as with most countries, has a selection of banknotes including large denomination ones, such as the 100000 Riel, worth about $25, plus the $50 & $100 US bills. Some of these notes look quite impressive, but for general purchases in small shops, markets, and paying for tuk-tuks, etc, you may experience difficulty changing them.  

your-money-in-cambodia, Managing your banknotes

Always, therefore, endeavor to have a selection of small-value Riel notes, such as the 1000, 5000, and 10000. The 10000 Riel is worth about 2.5 dollars, making it useful for small purchases, including tuk-tuks.

Carry small value notes, be wise before the event.

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Get yourself a bank account

If you are intending a long-term stay in Cambodia, why not consider opening a bank account.

I chose ABA bank and within 20 minutes, I had a bank account with a debit card. I am a pensioner, but what conditions may apply for those working, etc. one would need to enquire. However, all my experiences with ABA have been positive, and I have no reservations about recommending them.

your-money-in-cambodia ATMs

Value for Money. Paying bills and receiving money in Cambodia

CHANGING & TRANSFERING MONEY: There are numerous money exchange shops in cities & villages. Make sure that all USD notes offered to you are in very good condition & have in mind the amount you expect to receive. There are many branches of Western Union where you can send money overseas or receive money from other countries. The branch shown is at Acleda Bank, a short walk south from the Phnom Penh Hotel on Monivong Blvd.

International money transfers

CHANGING & TRANSFERRING MONEY: Western Union is good for sending money overseas or receiving it from other countries. However, never underestimate the importance of ensuring that names are spelled exactly the same as the recipients’ ID. For example, is it White or Whyte, is it Brown or Browne, or perhaps Bert or Albert. Important to get it right. Errors can cause long delays for the recipient and may attract fees.

To avoid problems, email the sender a copy of your passport from which they can copy your name. The same document, your passport, can then be presented when collecting your money.

Additionally, make sure that banknotes offered are in very good condition, especially $100 dollar bills, as mentioned below.

To whom it may concern

Using Western Union to send money from Cambodia to Thailand, I was once asked for a copy of my work permit. It would appear that there are restrictions/limits on sending money overseas. I understand that due to money laundering and other matters, there may be a limit of $200 per month. Ask for details next time you use the services of any of the money transfer companies.

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your-money-in-cambodia and Gold Shops

Tip for your money in Cambodia: Gold shops may be able to help with changing foreign currency into Riel or Dollars, and may have more favorable opening hours than some banks. However, always ask first, what their exchange rates are, and whether they charge a commission.

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your-money-in-cambodia Lost bank cards

Taking care of your cards

Exchange rates

For currency conversion, there is a box in the RH sidebar. As of 2 June 23, 1 USD was equal to about 4150 KHR. However, for convenience, many businesses use an exchange rate of 4000 or 4100 Riel to the Dollar. Moreover, the smallest denomination note in current use is the orange 100 Riel, & there are no coins.

Banks & money exchangers may ask to see your passport

US $100 dollar bills

For security purposes, The US$100 bill has been redesigned, several times over the years, for security purposes. Accept these only when the vertical blue security stripe, just to the right of Franklin’s portrait, runs the full height of the paper. However, notes with the stripe covering only the printed area may remain legal tender, but you may have to visit a central bank to exchange them.

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However, no matter how good or bad—funny or sad, tell us your experiences with money in Cambodia   

For general news: https://www.phnompenhpost.com/national