The Cambodian riel accounted for about 17 percent of total currency circulation last year, a number similar to previous years, but central bank officials said they remained optimistic that use of the local currency will grow in the future.
Speaking to reporters yesterday at an event in Phnom Penh celebrating the 38th anniversary of the re-introduction of riel as the national currency, National Bank of Cambodia (NBC) Director General Chea Serey said that despite the US dollar dominating Cambodia’s currency market, the results of an internal consumer survey pointed to shifting attitudes toward the use of riel.
“I am optimistic that the circulation of Khmer riel will be better thanks to the change of consumer attitude,” she said. “We have observed that our Cambodian people have increased their willingness to use the national currency.”
