Cambodian Currency – how does it work?
Cambodian currency is a tricky affair and one which is very confusing when visiting the country as a tourist. Technically at least the United States Dollar has always been the second currency of Cambodia to the riel. In actual fact for the longest time the greenback took prominence, with Cambodian riel largely being used in lieu of US coins, but this is all starting to change.
Dollar vs Riel – what is the exchange rate?
Previously all US dollar notes were in full circulation with a fairly set exchange rate of $1 = 4000 riel. East enough right? So a coke costs 50 cents, you give a dollar and you get 2000 riel (50 cents as change).
Some bigger supermarkets, or stores like Kiwi Mart use a more official exchange rate of 4100, or so to the dollar, but by and large the unofficial exchange rate works.
The de-dollarization of Cambodian Currency
This used to be a very simple process and the common man could happily live his life in a dollar world without a care for the local notes, but this is very much starting to change. In the early part of 2020 the Cambodian government began to withdraw the lower denomination $1, $2, and $5 notes from circulation. Thus 10’s, 50’s and 100’s are still about, most things, particularly in big cities are quoted in dollars, but you now get riel as change.
For example something costs $5 you give $20, you get back $10 and 20,000 riel ($5). In the early days this made many an older barang angry and confused, but time is a healer and people are now much more used to things.
Dollar to Riel street exchange
Having two Cambodian currencies in your pocket is obviously a bit confusing to start with, but it is easy enough to remember the exchange after bit of “rial” and error.
Here’s q quick cheat sheet to help you on your way.
How much is 100 riel – 5 cents
How much is 500 riel – 25 cents
How much is 1000 riel – 50 cents
How much is 5000 riel – $1.25
How much is 10000 riel – $2.40
How much is 20000 riel – $5
How much is 50000 riel – $12.59
How much is 10000 riel – $25
Dollar vs Riel – what do I need to bring to Cambodia?
The country may well be trying to move away from the USD, but make no mistake this is very much still a dollar economy, or at least certainly so in the big cities. If you need to bring cash to Cambodia then bring dollars, riel are nigh on impossible to get outside the country and it serves little purpose.
As you spending your dollars though you will soon get used to the change being given in Khmer notes and the various rule of thumb exchanges that occur.
Heading to the countryside? Bring Cambodian currency
Whilst the big cities are dollar friendly when you head to smaller places, or the countryside then you will need to have riel for everyday purchases. Big spends, bus tickets, to hotels can still be paid in dollars, but if you buy a 50 cent Ize cola with a $20 bill you are either unlikely to get change, or will be forced to wait 30 minutes as the shopkeeper scores the area for someone able to change the note.
What currency can I get from an ATM
What currency you can get from an ATM will depend on which card you are using and which bank you pick. Previously foreign cards could only withdraw dollars, but this has slowly started to change, with major banks such as ABA now offering the option of withdrawing Khmer Riel. Very useful when you are heading off on a trip.
For opening a bank account in Cambodia, which we will undoubtedly cover in another article you can have both USD and Khmer Riel accounts and cards, again an advisable choice for Cambodian expats.
And that is the rough guide to how Cambodian currency works!
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Author: Adam Reeves
An avid traveler and telecommunications expert, Adam has explored over 25 countries, immersing himself in their cultures to discover the best they offer. His passion for connecting people extends from his professional life to his adventures abroad.
