“Istrongly believe that our concerted efforts among stakeholders would gradually promote the local currency and significantly make the riel to be the national symbol of sovereignty, to benefit macroeconomic policies and to be the resilience for the economy.”
Riel usage is easy in our daily expenses, such as buying goods and easy to keep, even though it’s a little bit torn or old yet still can be used. More important, it also helps to promote our national currency to be more stable.
Backed by a strong rural clientele, microfinance institutions (MFIs) could amplify the wider usage of the riel as the circulation of the national currency is much higher outside the city.
We frequently make sure our physical health is still in good condition; if it is not we take a doctor’s advice with regards to how we can feel better.
The government has been urged to make it compulsory for all business transactions and payments, which are less than 400,000 riel ($100), to be made in the local currency.
For neighbourhood chain of supermarkets, Lucky Supermarket, switching product price tags to the riel was a gamble that paid off. Sales transactions in riel, to the surprise of its owners, shot up!
Ride hailing platform Grab (Cambodia) Co., Ltd has carefully navigated the dual currency system in the Kingdom by adopting the riel to drive its business, despite the US dollar dominating the local economy.
Leading insurer continues setting local industry standards with yet another Best General Insurance Company award
This year marks the 39th year in which the riel currency was reintroduced in Cambodia.
The demand for riel is changing with changes in the socio-economic climate of the Kingdom.