MONEY and CURRENCY in Cambodia ▶️

1. Currency in Cambodia
2. Banknotes + Coins
3. Exchange in Cambodia
4. Banks in Cambodia
5. ATMs + Credit Cards
6. Things to Watch Out
7. Questions + Answers

The official currency of Cambodia is the Cambodian Riel (KHR).

Cambodia, a country rich in history and culture, also harbors a unique currency reflecting the tumultuous development of this land. The Cambodian currency, known as the riel, plays a crucial role in the economy and mirrors a diverse palette of historical and cultural influences that have shaped this Southeast Asian nation. Cambodia ranks among the poorer countries globally, and its monetary system is pegged to the United States Dollar.

History of the Riel: Journey of the Cambodian Currency Over Time

The riel has its roots in the period of French colonization when the French Indochinese currency was introduced. After gaining independence in 1953, Cambodia transitioned to its own currency, the Cambodian riel. Over time, the currency faced various challenges, including turbulent political events and conflicts that affected the entire region. Nevertheless, the riel maintained its uniqueness and a steadfast place.

Design and Description of the Riel: Artistic Expression on Banknotes and Coins

The Cambodian riel, with the code designation KHR, is presented in the form of banknotes and coins, each carrying its own aesthetic and cultural significance. Banknotes feature portraits of significant figures from Cambodian history, while coins bring iconic symbols associated with national identity, though they are practically unused. Each riel is not only a mere medium of exchange but also an expression of Cambodia’s cultural heritage.

Evolution of the Riel: From Turbulence to Stabilization

The history of the riel has undoubtedly been marked by turbulent periods, especially during the rule of the Khmer Rouge in the 1970s. Economic collapse and widespread hyperinflation severely damaged the currency’s value. However, following relative stability in the 1990s and recent years, Cambodia strives to restore the strength of its currency and bolster the economy.

Riel Today: Stable Future and Global Challenges

Today, the riel is a firmly established medium within the Cambodian economy. While still facing challenges of globalization and changes in global financial markets, Cambodia endeavors to strengthen its currency and improve the economic situation. The riel, considering its diverse history and rich culture, remains a key element of Cambodian identity and national pride.

What banknotes and coins are used in Cambodia?

In Cambodia, banknotes and coins are used as a common means of payment, although coins are practically unused due to inflation. The Cambodian currency is the riel (KHR), and there are various denominations of banknotes and coins to facilitate daily transactions for residents and visitors. Below, you will find more detailed information about the banknotes and coins used in Cambodia:

💸 Paper Banknotes in Cambodia:

• • Banknotes in Cambodia are available in various denominations, making it convenient for trade transactions of different scales. Commonly used denominations include 50, 100, 500, 1000, 5000, 10,000, 20,000, 50,000, and 100,000 riels.
  • Each banknote has its own design, featuring portraits of historical figures, national monuments, and other cultural and historical symbols.
  • Banknotes are equipped with security features to make counterfeiting difficult.

🪙 Coins in Cambodia:

• • In addition to banknotes, there are also coins. Common coin denominations include 50, 100, 200, 500, and 1000 riels.
  • Coins have a specific design with various symbols and motifs, often featuring portraits of significant figures or national symbols. However, kak and sen coins are not in practical use.

Acceptance of Banknotes and Coins:

• • Most shops, restaurants, and other businesses in Cambodia commonly accept the used banknotes and coins.
  • The Cambodian riel is the preferred currency for transactions in the domestic environment. However, in tourist-frequented areas and for larger transactions, it may be possible to use United States Dollars (USD) as well.

Where to Exchange Money (US Dollars) in Cambodia?

In Cambodia, you can exchange money, including U.S. dollars, at several places. Here are some common places where you can exchange money in Cambodia:

1. 1. Banks: Most banks in Cambodia allow currency exchange, including U.S. dollars. Banks typically offer more favorable exchange rates than street money changers.
   2. Money Changers: Private money changers are also available, often located in tourist-frequented areas or near banks. However, it’s important to be cautious when exchanging money at places without official authorization.
   3. Hotels and Airports: Some hotels may provide currency exchange services. Similarly, you can use exchange services at airports, although the exchange rate may be less advantageous here.
   4. ATMs: Many ATMs in Cambodia dispense cash in U.S. dollars. You can choose to withdraw money in the local currency (riels) or dollars, often with a favorable exchange rate.
   5. Debit/Credit Cards: In some shops, restaurants, and larger cities, you can pay with debit or credit cards. In such cases, it’s common for the bill to be displayed in U.S. dollars.

Before exchanging money, it’s always a good idea to check the current exchange rates to get the most favorable conditions. Additionally, it’s wise to keep an eye on your wallet and avoid exchanging money at unofficial places to minimize the risk of counterfeiting or unfavorable exchange terms. Islands in Cambodia such as Koh Rong and other nearby islands may not have ATMs, so it’s advisable to have cash prepared.

What Are the Banks in Cambodia?

In Cambodia, there are several domestic banks that provide various banking services to residents and businesses. Some of the major domestic banks in Cambodia include:

1. 1. Acleda Bank Plc (ACLEDA): One of the largest and oldest banks in Cambodia, ACLEDA Bank has an extensive branch network and offers a wide range of banking and financial services, including loans, savings, and debit cards.
   2. Canadia Bank Plc: Another significant bank in Cambodia offering various banking products and services. Canadia Bank has many branches throughout the country.
   3. Cambodia Public Bank (Campu Bank): A branch of the international Public Bank from Malaysia, Campu Bank provides various banking and financial products.
   4. Union Commercial Bank Plc (UCB): Another bank with an extensive branch network in Cambodia, providing standard banking services and specializing in areas such as trade finance and investments.
   5. Vattanac Bank: Part of the Vattanac Group, one of the largest business conglomerates in the country. It offers a wide range of banking services for individuals and businesses.

These banks play a crucial role in the development of the Cambodian economy, providing residents and businesses with the opportunity to access modern banking and financial services. It’s advisable to compare offers, fees, and conditions if you plan to open a bank account or use other banking services in Cambodia.

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What Are the International Banks in Cambodia?

Cambodia is home to several international banks that provide banking and financial services in the country. Some of the international banks in Cambodia include:

1. 1. ANZ Royal Bank (ANZ): ANZ was once a major international bank in Cambodia but sold its stake in ANZ Royal Bank to J Trust Bank from South Korea in 2017. It is now known as J Trust Royal Bank.
   2. Bank of China (BOC): Bank of China has its branch in Cambodia and provides standard banking and financial services.
   3. Maybank Cambodia: Maybank, a Malaysian bank, also has a branch in Cambodia, offering banking and financial services for individuals and businesses.
   4. Public Bank (Cambodia) Limited: Another Malaysian bank operating in Cambodia, Public Bank offers standard banking services, including loans and deposits.
   5. Union Commercial Bank (UCB): UCB has international branches and foreign partners, providing a wide range of banking services in Cambodia.
   6. Cathay United Bank: This Taiwanese bank also has a presence in Cambodia, offering various banking products and services.
   7. Cambodia Mekong Bank (CMB): Cambodia Mekong Bank is another international bank with a branch in Cambodia, providing standard banking services and investment advisory.

It’s worth noting that the financial landscape and the presence of banks may change over time, so it’s always good to verify current information through official sources or the specific websites of the respective banks.

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ATMs and Payment Cards in Cambodia:

In Cambodia, ATMs are commonly available in cities and tourist-frequented areas. Payment cards are also usually accepted at many cash facilities, restaurants, and shops. Here is some information about ATMs and payment cards in Cambodia:

🏧 ATMs in Cambodia:

1. 1. Types of cards: Most ATMs in Cambodia accept international debit and credit cards, such as Visa, MasterCard, Maestro, and others. It is often possible to withdraw money in either US dollars or the local currency, the riel.
   2. Cash withdrawal fees: Some banks and ATMs may charge fees for cash withdrawals. It is advisable to inquire about these fees before making a transaction.
   3. Availability in tourist areas: In cities, tourist destinations, and near banks, you will typically find more ATMs. In remote areas, availability may be more limited.
   4. Safety: It is always important to choose safe and verified ATMs, especially in public spaces. Security measures, such as covering the keypad when entering your PIN, are recommended.

💳 Payment Cards in Cambodia:

1. 1. Acceptance of payment cards: In many cash facilities, including hotels, restaurants, and shops in tourist areas, payment cards are commonly accepted.
   2. Types of payment cards: International credit and debit cards from Visa and MasterCard are usually the most widely accepted.
   3. Currency conversion: When using a card for payment, you may sometimes be asked whether you want to pay in the country’s currency (riels) or in US dollars. Keep in mind that when paying in US dollars, the merchant’s exchange rate may be used, which might be less favorable.
   4. Contacting your bank: Before traveling, it’s a good idea to inform your bank about the planned use of your card abroad to minimize potential security issues or blocks by the bank.

Although the availability of ATMs and acceptance of payment cards in Cambodia have increased, it’s always a good idea to have some cash, especially in remote areas. This is particularly true for rural areas outside cities, where ATMs may be scarce, and cards may not be accepted.

Which Credit Cards Can You Use in Cambodia?

In Cambodia, international credit cards from well-known issuers, especially Visa and MasterCard, are generally accepted. In tourist destinations and larger cities, you can expect credit cards to be widely accepted, especially in hotels, restaurants, and shops. Some banks and businesses may also accept other types of cards, such as American Express or Discover, but the presence of these cards may be less common.

Here are some specific details about credit cards in Cambodia:

1. 1. Visa: Visa is widely accepted in Cambodia. Most ATMs and card-accepting businesses should take Visa.
   2. MasterCard: MasterCard is also frequently accepted. Similar to Visa, you should be able to use MasterCard in most places.
   3. American Express: Some luxury establishments and international hotels may accept American Express, but it may be less common compared to Visa and MasterCard.
   4. Discover: Discover may have limited acceptance in Cambodia.

Before traveling to Cambodia, it’s always a good idea to check with your card issuer to ensure that your international payment feature is activated and inform your bank about your planned card usage abroad. Also, keep in mind that in some smaller or remote areas, credit card acceptance may not be as common, so having some cash on hand is advisable.

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Is It Possible to Use ATMs at Airports in Cambodia?

Yes, there are ATMs available at airports in Cambodia that allow you to withdraw cash in the local currency (riel) or in US dollars. Cambodian airports, especially in the capital city Phnom Penh, the second-largest city Siem Reap, and other key tourist destinations, are equipped with ATMs to facilitate travelers in obtaining local currency.

Although it’s possible to withdraw cash at airports, you should be aware of a few things:

1. 1. Exchange Rates: ATMs at airports may use their own exchange rates, which may not always be the most favorable. It can be useful to compare the ATM’s exchange rate with that offered by your bank or a currency exchange.
   2. Fees: Some banks and ATMs may charge fees for cash withdrawals. Before making a transaction, you should inquire about any fees associated with your credit or debit card.
   3. Types of Currencies: When withdrawing cash from an airport ATM, you may have the option to withdraw in the local currency (riel) or in US dollars. The chosen currency may affect the exchange rate and potential fees.

In any case, it’s advisable to have some cash or a payment card ready at the airport, especially if you plan to use a taxi or other transportation to your accommodation upon arrival. Therefore, it’s recommended to exchange at least some cash at the airport.

Is It Possible to Exchange Money at Airports in Cambodia?

Yes, it’s possible to exchange money at airports in Cambodia. International airports, such as those in Phnom Penh, Siem Reap, and Sihanoukville, have currency exchange services and banks that allow travelers to exchange their money into the local currency (riel) or US dollars.

Below are some useful pieces of information:

1. 1. Types of Currencies: In Cambodia, it’s common to exchange money into the local currency, which is the riel, or into US dollars, which are also widely accepted. Many transactions in tourist-frequented areas and facilities may be conducted in US dollars.
   2. Exchange Offices and Banks: Currency exchange services and banks are usually available at airports, allowing you to exchange money in cash or on payment cards.
   3. Exchange Rates and Fees: Exchange rates at airports may be slightly less favorable than in cities, and some exchange offices may charge fees. Before exchanging money, you should check the current exchange rates and potential fees.
   4. Payment Cards: At airports in Cambodia, you can often use a payment card for purchases or services.

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ATM Withdrawal Fees in Cambodia and Withdrawal Limits:

ATM withdrawal fees and withdrawal limits in Cambodia may vary depending on the specific bank you are using and the specific ATM. Below are general pieces of information, but it’s important to be aware that they may change, so it’s always best to verify the current conditions with a specific bank or at the time of the transaction.

ATM Withdrawal Fees in Cambodia:

1. 1. Local Banks: Most local banks in Cambodia charge fees for cash withdrawals at ATMs. Fees can range from approximately $4 to $6 (USD) per transaction.
   2. International Banks: International banks, such as ANZ or Bangkok Bank, may have different fees. Some banks may offer free withdrawals at their own ATMs or within a partner network.
   3. Your Bank’s Fees: Your own bank may also charge fees for international withdrawals. Before traveling, it’s advisable to inquire about the fees your bank may charge for transactions abroad.

Withdrawal Limits:

1. 1. Local Banks: Withdrawal limits at ATMs of local banks are typically in the range of $500 to $1,000 USD per transaction. The exact limits may vary between different banks.
   2. International Banks: Withdrawal limits at ATMs of international banks are also set by individual banks and may vary. Some banks may have higher limits for their own clients or certain cardholders.

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What to Watch Out for When Paying in Cambodia?

When paying in Cambodia, it’s good to be cautious and follow some basic safety measures. Here are some tips on what to watch out for when paying in Cambodia:

1. 1. Payment Cards: When using payment cards at places like restaurants, hotels, or shops, be mindful that the staff may attempt to misuse card information. Ensure that your card is visible throughout the entire transaction, and do not let it out of sight.
   2. Payment Terms: Some establishments may charge fees for using payment cards. Before making a transaction, inquire about any potential fees to be prepared for the final amount.
   3. Cash Payment: When making cash payments, ensure that you receive the correct change. Also, note that some smaller shops or markets may not have enough small bills, so having smaller denominations can be useful.
   4. Counterfeits: Cambodia has had issues with counterfeit money in the past. Make sure you receive banknotes and coins that look authentic. In case of suspected counterfeits, inform local authorities.
   5. Secure Card Usage: Prefer using payment cards at secure and reputable places, such as banks, hotels, or large stores.
   6. Caution at ATMs: When withdrawing cash from ATMs, choose secure and well-lit locations. Conceal your keypad, and if possible, use ATMs located at banks or in their vicinity.
   7. Cautious at Markets and Tours: When paying at markets or with informal vendors, exercise caution. Some markets may have unclear pricing or attempt hidden surcharges.
   8. Prices and Negotiation: Prices may sometimes be offered at a higher rate to tourists. If you have the opportunity to negotiate, try to lower the price, especially at markets or when buying from local sellers.

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❓ FAQ + TIPS – Money and Currency in Cambodia:

1. What is the official currency in Cambodia, and what is the exchange rate?

• • In Cambodia, the official currency is the Cambodian riel (KHR). The usual exchange rate may vary but is approximately around 4,000 KHR to 1 USD.

2. Where can money be exchanged in Cambodia?

• • Currency exchange can be done at banks, exchange offices, and some hotels. Banks often offer better rates but have limited opening hours. Exchange offices are available even outside regular working hours.

3. Are ATMs readily available in Cambodia, and what are the fees?

• • ATMs are common in larger cities and tourist areas of Cambodia. Cash withdrawal fees vary by bank and card type. It is recommended to use ATMs affiliated with banks for lower fees.

4. Is it common to pay by card in Cambodia, and how are cards accepted?

• • Acceptance of credit cards is not as common as in other countries, especially outside major cities. Some luxury establishments and restaurants accept cards, but cash is still the preferred form of payment.

5. Are there payment apps and mobile payments in Cambodia?

• • Mobile payments and payment apps are not common and are used minimally. Most transactions are still conducted in cash, so it’s recommended to have enough cash, especially in remote areas.

6. What are the recommendations for safe use of ATMs and cards in Cambodia?

• • In touristy areas, it is recommended to withdraw cash from secure locations and avoid isolated ATMs. When paying by card in restaurants and shops, it’s advisable to monitor transactions and keep the card in sight.

7. What are the experiences with payments outside tourist-known areas?

• • In rural areas of Cambodia, credit card acceptance and ATMs are limited. It’s recommended to have enough cash if planning to visit remote regions, where cash is a more common form of payment.

8. Do hotels or accommodations in Cambodia have specific payment rules?

• • Hotels in Cambodia may require a credit card or cash for a deposit for additional services or damages during check-in. When booking accommodation, it’s advisable to familiarize yourself with payment rules and potential fees.

9. What are the practices and tips for handling cash safely in Cambodia?

• • When visiting markets and public places, it’s recommended to have smaller amounts of cash and carefully monitor valuables. Using wallets or money belts for concealing cash can be useful. Avoid displaying large amounts of money conspicuously.

10. Are there security measures when using ATMs in Cambodia?

• • During nighttime, it’s advisable to avoid deserted and dark areas, especially when withdrawing cash from ATMs. Prefer ATMs located in well-lit areas and in a secure environment, such as near banks.

11. What is the procedure in case of loss or theft of a payment card in Cambodia?

• • In case of loss or theft of a card, it’s essential to contact the bank immediately and have the card blocked. Informing local police and obtaining a police report is crucial. Tourists should also contact their home country’s bank and inform them of the situation.

12. Are there any recommendations for tipping in restaurants in Cambodia?

• • Tipping is not mandatory in Cambodia, but rounding up the amount in restaurants and leaving a small tip in hotels is common. If the service is good, leaving 5-10% of the amount is usual. In upscale establishments, a service charge may be added.

13. Are there any rules regarding currency exchange and payments during holidays in Cambodia?

• • During holidays and festivals in Cambodia, banks may be closed, and exchange rates may fluctuate. It’s advisable to have enough cash before any holidays and festivals and plan financial transactions considering these events.

14. What is the procedure in case of loss or theft of cash in Cambodia?

• • In case of cash loss, it’s advisable to immediately inform the local police and obtain a police report. Subsequently, contact your embassy or consulate and inform them of the situation. When traveling with larger amounts of cash, it’s recommended to use a safe or security belts for carrying money on the body for increased safety.

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