Cambodian Riel (KHR)

Basic Concept of Cambodian Riel

The Cambodian Riel (KHR) is the official currency of the Kingdom of Cambodia, issued and managed by the National Bank of Cambodia. Its currency symbol is "៛" and its ISO 4217 code is KHR.The Riel is mainly used for small daily transactions, but the US Dollar is also widely accepted within Cambodia, forming a dual currency circulation system.

Countries and regions of use

The Cambodian Riel is only legal tender within the Kingdom of Cambodia. Although the US Dollar is commonly used in areas such as tourism, commerce and real estate, the Riel is still the main currency used by local residents for daily consumption and transactions in rural areas.

Units and Denominations

The Cambodian riel uses a decimal system where 1 riel equals 100 sen (sen), but the sen unit is no longer in circulation. The denominations of banknotes currently in circulation include 100៛, 500៛, 1,000៛, 2,000៛, 5,000៛, 10,000៛, 20,000 ៛, 50,000៛, and 100,000៛. Coin denominations are less commonly used, with 50 ៛, 100 ៛, 200 ៛ and 500 ៛ being common.

Historical Background

The Cambodian riel was first introduced in 1953 after Cambodia's independence to replace the French Indochinese dollar. the currency system was abolished during the Khmer Rouge regime of 1975-1979, and reissued as the new riel in 1980. after the marketization of the Cambodian economy in the 1990s, the riel formed a fixed exchange rate relationship with the US dollar, and currently stands at about 4,000-4,100 riel per US dollar, with the stability of the currency The stability of the currency has gradually improved.