5 Facts about the Cambodia Currency That You May Not Know

Another interesting aspect of Cambodia is that its currency system uses two currencies concurrently: the US dollar and the riel. In metropolitan and tourist locations, the US dollar is more widely circulated than the local currency, the riel. Therefore, it is important to know how to use money in Cambodia and where to exchange it.

We will provide you with detailed insights on Cambodian currency in this article, so stay connected with us for more information!

Written by Oliver PHUNG (Local expert)Updated on 27-09-2024

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1. What is the currency of Cambodia?

If you happen to travel to Cambodia, you’ll be fascinated to learn that, in addition to the local currency, the riel, the US dollar is also widely circulated. Most prices for goods and services in hotels, restaurants, stores, and even supermarkets are often listed in US dollars, while the riel is predominantly used in smaller, local markets where local businesses operate. However, riel payments are typically used only for giving change in amounts less than one dollar.

Oh, and heads up—you’ll need US dollars for your tourist visa. No exceptions. Pro tip: always ask for riel as change when the amount is small, and steer clear of worn-out bills (locals won't accept them!).

The US dollar is even good in the rural areas, but don’t be surprised if you get your change in riel. Some places even let you mix it up, paying in both currencies in one go. Cool, right?

2. Riel, the official currency of Cambodia

In Cambodia, the riel is used as the official currency (alongside the US dollar).

• Official Name: Riel
• Currency symbol: ៛
• Currency code: KHR
• Currency Conversion in Cambodia: Currently, you can get around 4,000 riel for 1 US dollar.

The Cambodian riel exists in two forms: metal coins and paper bills.

Metal coins have denominations of 50 riel (approximately 1.15 cents), 100 riel (approximately 2.3 cents), 200 riel (approximately 4.6 cents), and 500 riel (approximately 11.5 cents). However, these coins have become rare because they are impractical. Today, they are more popular with coin collectors than for everyday transactions.

Paper banknotes have values of 10 riel (approximately 0.23 cents), 20 riel (approximately 0.46 cents), 50 riel (approximately 1.15 cents), 100 riel (approximately 2.3 cents), 200 riel (approximately 4.6 cents), 500 riel (approximately 11.5 cents), 1,000 riel (about 23 cents), 2,000 riel (about 46 cents), 5,000 riel (about $1.15), 10,000 riel (about $2.30), 20,000 riel (about $4.60), 50,000 riel (about $11.50), and 100,000 riel (about $23). There are also 1-riel, 2-riel, and 5-riel notes, but they are rarely used today because their value is too low.

3. How to distinguish Cambodian Riel banknotes?

While metal coins are rarely used in Cambodia today, tourists may still come across them as collectibles. These stainless steel coins feature Cambodian symbols engraved on both sides.

In Cambodia, paper banknotes are the most common form of currency, with denominations ranging from 50 to 100,000 riels. Each banknote bears the phrase “NATIONAL BANK OF CAMBODIA” and is marked with a unique serial number as a security feature. The banknotes also showcase different symbols and illustrations, including temples, monuments, cultural figures, and the legendary Naga snake.

Cambodian banknotes are easy to distinguish by their value, color, and size. For example, the 100 riel note is smaller and lighter compared to the larger 50,000 riel note.

To prevent fraud, Cambodian banknotes incorporate several security measures. Here are some tips to identify genuine notes:

• Serial number: Every banknote has a unique serial number.
• Paper quality: Cambodian banknotes are made from high-grade paper. Hold them up to the light to check for hidden designs.
• Latent patterns: Genuine notes feature intricate designs, including temples, kings, and national symbols, that are difficult for counterfeiters to replicate.

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4. Paying with Cash or Card in Cambodia: Which is Better?

4.1. Cards, bank fees and ATMs in Cambodia

Most of the major hotels, souvenir stores, and restaurants in Cambodia accept payment using credit card services like Visa or Mastercard. An important note however is the fact that additional charges of about 3% are usually charged for any card payment done. For this reason, it’s best to always have small denominations of Cambodian currency or US dollars for quick payments in case of small costs.

In Cambodia, you are able to find banks that have ATMs that dispense United States dollar bank notes. This always comes with a withdrawal charge of 2 to 4 USD plus a transaction fee lying between 2- percent therefore small withdrawals are not advisable.

4.2. Current Transactions (Cash)

Credit cards are useful for paying hotel bills, dining in larger restaurants, or purchasing high-cost items, but it's advisable to carry cash for smaller expenses, especially when dealing with small businesses.

It’s recommended to carry both US dollars and the local currency (riel). Purchases under 1 USD are best paid with riel.

You can exchange some of your cash at the airport upon arrival or use international banking services, though these often come with higher fees. Some smaller currency exchange booths may offer better rates, but you run the risk of receiving substandard bills (old, torn, etc.). Therefore, it’s important to carefully check the condition of the bills after exchanging currency.

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5. Practical tips for travelers

Travel expenses in Cambodia are generally affordable. If you're visiting for the first time, here are some tips to help reduce costs:

• Know the exchange rate: Avoid exchanging money without checking the current market rate, as different exchange bureaus offer varying rates. Refrain from exchanging at borders or airports, as they typically charge higher fees.
• Pay with riel for small purchases: For transactions under $1, such as buying food, drinks, or making temple donations, using riel is more convenient.
• Carry small-denomination US dollars: To avoid issues with finding change for larger bills, it's useful to have small-denomination US dollars on hand.
• Avoid the $2 bill: It’s considered bad luck due to local superstition related to the Pol Pot period.
• Use cards for large expenses: In many restaurants, shops, or hotels, you can use international payment cards like Visa or Mastercard to avoid carrying too much cash.
• Store your money securely to avoid theft or pickpockets.
• Do not accept damaged currency: Refuse any bills that are crumpled, old, or torn, as they may not be accepted elsewhere.

CONCLUSION

Cambodia, the land of pagodas, is an ideal destination for discovery and relaxation. Understanding the currencies used in Cambodia and when to use them can make your trip even more enjoyable. In addition to the national currency, the riel, you can also use the US dollar, which simplifies transactions during your stay. Feel free to share your travel memories with us and ask any questions!