Traveling to Cambodia offers a unique blend of rich history, vibrant culture, and stunning landscapes. To navigate this beautiful country effectively, understanding its currency system is essential.

The Cambodian Riel (KHR) serves as the official currency, but the US Dollar (USD) is also widely accepted, especially in urban areas and tourist hotspots. This dual-currency system can be both convenient and confusing for travelers, making it important to grasp the nuances of currency usage in Cambodia.

A Brief History of Cambodian Currency

The Cambodian Riel was first introduced in 1953 when Cambodia gained independence from French colonial rule. Initially, it coexisted with the French Indochinese Piastre until it was fully adopted in 1955. However, during the Khmer Rouge regime from 1975 to 1980, money was abolished entirely, plunging the economy into chaos. Following the fall of the Khmer Rouge, the second version of the Riel was reintroduced in 1980 by the National Bank of Cambodia. This new riel was intended to restore confidence in the national economy amidst rampant inflation and instability.

Over time, the US Dollar became a de facto currency in Cambodia due to its stability and widespread acceptance. This dollarization began in the late 1980s and has continued ever since, with USD often being used for larger transactions while KHR is primarily used for smaller purchases.

Currency Overview

• Currency Name: Riel (KHR)
• Symbol: ៛
• Subunit: Sen (100 sen = 1 riel)
• Denominations:
• Coins: 100, 200, 500 riel
• Banknotes: 1,000; 2,000; 5,000; 10,000; 20,000; 50,000; 100,000 riel

As of December 2023, the exchange rate is approximately 1 USD = 4,175 KHR. Travelers should be aware that while both currencies are accepted throughout Cambodia, transactions often favor USD in urban settings.

Usage Guide for Travelers

1. Payment Methods:
   • US Dollars are widely accepted in cities and tourist areas.
   • Cambodian Riels are preferred for smaller purchases and local markets.
   • Expect to receive change in riels when paying with USD.
2. Exchanging Money:
   • Exchange rates can vary; banks generally offer better rates than hotels or kiosks.
   • Avoid exchanging money at airports unless necessary due to higher fees.
   • Bring small denominations of USD (preferably new or crisp bills) as older or damaged notes may not be accepted.
3. Tips for Travelers:
   • Carry a mix of both currencies to navigate various purchasing situations.
   • Be cautious when using large denominations of USD as some vendors may refuse them.
   • In rural areas or smaller shops, having riels on hand is advisable as they may not accept USD.

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Major Banks In Cambodia

If you’re traveling to Cambodia and looking to navigate the banking landscape, here are the top 10 major banks in the country that can help you manage your finances effectively:

1. ABA Bank

ABA Bank is a popular choice among travelers for its extensive network of ATMs and branches across Cambodia. Known for its user-friendly digital banking services, it offers convenient options for cash withdrawals and money transfers. The bank also provides competitive exchange rates, making it a great option for foreign currency transactions.

2. ACLEDA Bank

As the largest bank in Cambodia, ACLEDA Bank is well-equipped to serve both locals and visitors. It has a wide array of services, including personal banking, business accounts, and microfinance options. With numerous branches throughout the country, you’ll find it easy to access your funds or make transactions.

3. Canadia Bank

Canadia Bank is another major player in Cambodia’s banking sector, known for its reliability and customer service. It offers a range of services suitable for travelers, including foreign currency exchange and international money transfers. The bank’s extensive ATM network makes it convenient to withdraw cash.

4. Foreign Trade Bank of Cambodia (FTB)

FTB is a trusted name in Cambodian banking, offering various services that cater to both residents and tourists. With a strong presence in urban areas, FTB provides easy access to banking facilities and competitive rates for currency exchange.

5. BRED Bank

If you prefer a European banking experience, BRED Bank is the only European bank operating in Cambodia. It offers personalized service and a range of financial products that can be beneficial for travelers looking for secure banking options during their stay.

6. Phillip Bank

Phillip Bank, part of the PhillipCapital Group from Singapore, is known for its modern approach to banking. It offers various services tailored to both individuals and businesses, making it a good option if you need assistance with financial transactions or investment advice while traveling.

7. Maybank

With its roots in Malaysia, Maybank has established a solid presence in Cambodia since 1993. It provides comprehensive banking services that are traveler-friendly, including easy access to cash and foreign currency exchange.

8. Wing Bank

For those who prefer mobile banking solutions, Wing Bank specializes in digital transactions. It allows travelers to make quick money transfers and pay bills conveniently through its user-friendly app, making it ideal for tech-savvy visitors.

9. Sathapana Bank

Sathapana Bank is known for its excellent customer service and accessibility. With a growing number of branches and ATMs, it’s an excellent option for travelers needing reliable banking services during their trip.

10. Prince Bank

While relatively new, Prince Bank is rapidly gaining popularity among travelers due to its innovative services and digital banking options. It offers competitive rates and convenient access to funds, making it an attractive choice for visitors exploring Cambodia.

These banks provide a variety of services that can enhance your travel experience in Cambodia, ensuring you have access to your funds and financial support whenever needed.

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Explore Cambodia Further

• Cambodia [Country Info]
• Common Misconceptions – Cambodia
• Currency Guide – Cambodia
• Essential Travel Tips for Cambodia
• Geographical Regions of Cambodia
• Popular Cities To Visit In Cambodia
• Popular Foods In Cambodia
• Popular Museums To Visit In Cambodia
• Safety Guide For Travelers To Cambodia
• Top 50 Things To Do In Cambodia
• Top Historical Places To Visit In Cambodia