The new 200,000 riel note features a portrait of King Norodom Sihamoni alongside the Queen Mother on one side, while the other showcases a portrait of King Sihamoni in ceremonial attire. Supplied
The Cambodian government has announced the circulation of a new 200,000 riel commemorative banknote. The new notes aim to celebrate the 20th anniversary of His Majesty King Norodom Sihamoni’s coronation as King of Cambodia.
Each of the notes will be worth approximately $50, so with 20 million printed, they will have a total value of around one billion dollars.
According to officials, the introduction of the new banknotes will not affect the value of the currency currently in circulation in the national economy.
On October 16, Prime Minister Hun Manet issued a decree permitting the publication, circulation and use of the 200,000 riel banknote, alongside the notes already in circulation.
Chea Serey, governor of the National Bank of Cambodia (NBC), assured the public that the issuance of the new banknote will not impact the value of the currency in circulation, as it is merely replacing old, worn, and torn banknotes that have been withdrawn from circulation.
She explained that the number of new notes is strictly controlled.
“I want to confirm that it will not affect the quantity of money in circulation within Cambodia's economy. There have been concerns that the NBC or the government is running out of money, which is why a new banknote is being issued. However, I can clarify that this is simply a replacement for the old, damaged banknotes that we have removed from circulation,” she said.
The new notes feature up to 68 security elements.
According to the National Bank of Cambodia, the new banknote measures 170mm by 76mm in width, with dominant colours of brown, orange and pink. The front side features a portrait of King Norodom Sihamoni alongside the Queen Mother, with traditional inscriptions.
The reverse side showcases a portrait of King Sihamoni in ceremonial attire, with the words "200,000 Riels" and the inscription "Congratulations on the 20th Anniversary of the Coronation of His Majesty Preah Bat Samdech Preah Boromneath Norodom Sihamoni (29 October 2004 - 29 October 2024)" along the edge of the note.
Hong Vanak, an economist at the Royal Academy of Cambodia, told The Post on October 16 that the government’s announcement to issue the new 200,000 riel banknote would not impact the national economy, as it is a limited-edition commemorative note with a fixed print quantity of 20 million units.
“I don’t believe it will negatively affect economic activities or devalue the riel. This large-denomination banknote is also convenient for storage and helps reduce printing costs,” he added.
At present, denominations of 50, 100, 200, 500, 1,000, 2,000, 5,000, 10,000, 15,000, 20,000, 30,000, 50,000 and 100,000 riel are in circulation.
