Money Changers Must Show License, Bank Says

In an effort to halt exploitative exchanges rates among a minority of money exchange shops, all currency conversion businesses must now openly display their registration licenses, according to a notice from the National Bank of Cambodia ?In order to guarantee personal interests and prevent accidental losses, the public should be careful, and in case of requiring the exchange of money, please, the public must change in shops that show their licenses, which is issued by the National Bank of Cambodia,? according to the announcement published in local newspapers and signed by NBC Governor Chea Chanto. The notice also says that a few money changing shops, particularly along the border with Thailand, have cheated visitors and have even passed counterfeit Cambodian riel to customers. Sean Lim, owner of Ly Hour gold and money exchange in Phnom Penh?s Phsar O?Russei, said that most large established shops conduct business fairiy, while unregistered small shops are usually the culprits of unscrupulous practices.

Sourced = The Cambodia Daily