Money in Cambodia

Cambodia is a mysterious country that has not been much explored by tourists yet. When planning a trip there, you should start by studying the question of what money to take to Cambodia, how much is enough, whether it is worth changing it in advance.

Check this comprehensive guide about best currency to take to Cambodia; get essential information if you can pay with USD, where to exchange to riel, tipping system, cash or card mostly used and other details.

National currency of Cambodia

Сambodia’s Official Currency

Official currency Cambodia is the Khmer riel (KHR). The Cambodian riel international code is KHR. Banknotes of various denominations are widely used: 50, 100, 200, 500, 1000, 2000, 5000, 10000, 20000, 50000, 100000.

Each of the banknotes depicts either some important historical monument or a royal person. You can find the famous Angkor Wat complex on 20000 notes.

Coins 

Coins are practically not used, despite the fact that they are still in circulation. One of the main reasons for this is the civil war that engulfed the country.

The instability of the monetary system led to the fact that the state was simply not able to support the issuance and circulation of coins.

Cambodian Riel History 

In 1953 Cambodia gained its independence from France. Along with it, a new currency appeared in the country – the riel KHR.

Until that time, starting in 1885, the country had a different currency – piastre.

During the period when the communists came to power in 1975 the monetary system of Cambodia, which was quite weak, nearly collapsed – the new regime propagated the abolition of money. There was no official currency in Cambodia until 1980.

Where does the name of the currency come from – there is still no specific explanation. There is a version that it is related to the Mexican real, made of silver and used by merchants from China and India for payments.

US dollars in Cambodia

There is unofficial dual currency system in the country – official Cambodian riels and US dollar are used. American dollar actually squeezed out the local currency in the 90s.

Then it was used to support the economy and help the country to recover from the war. Now the authorities are actively trying to establish the authority of the Cambodian riel, but this is a long process.

In many cities, especially tourist areas, many prices are in dollars. Some ATMs do not give out riels, but can only give you dollars.

In small shops, when buying, dollars are used for calculation. And, for example, while paying in USD you can get change in KHR.

How to pay in Cambodia at the market

Many tourists who are going to the country for the first time do not even know what kind of money goes in Cambodia.

And it turns out to be a surprise for them when payment in dollars is accepted everywhere: in hotels, shops, in all kinds of markets. They are paid in dollars to the tuk-tuk driver; in large shopping centers, prices are written in both dollars and riels at the same time.

Cash or Card

Cambodia is a country where cash is used predominantly for payment.

You can use the card to pay in a hotel, in a large shopping centers and in some high end restaurants. For the rest, it is better to have cash with you. Visa and Mastercard are used by big and medium-size businesses.

If you pay somewhere in the market or a small store, then use small denomination notes. Because to exchange, for example, 100 dollars, the seller may have difficulties.

It is worth noting that banknotes in denominations of 1, 5, 10 dollars are trying to be withdrawn from circulation, so try to get rid of them immediately.

Also, when you’re travelling to some rural areas make sure to prepare enough cash in advance. When paying in dollars in cash, it is important to remember that the bill must not be torn, not wrinkled, and in perfect condition. Otherwise, they may refuse to accept it.

Money in Cambodia

Tipping 

Tipping in Cambodia is optional. But, if you were satisfied with the level of services rendered to you, then why not to thank a person financially.

Most people in Cambodia have low wage salaries, so any gratitude will be welcomed.

So, for example, you can leave a tip to the waiter or hotel staff. If you like taxi services, then as a thank you, you can either round up the total amount to be paid, or give 1-2 dollars additional. The amount of tips that will be sufficient is no more than 10% of the total payment for the service.

Cash Withdrawals in Cambodia 

There are enough ATMs throughout Cambodia, so there should be no issues with cash withdrawals. Always check for logos on ATMs, in order to be sure that it accepts the type of card you have. There are standard ATM fees for each transaction, which is about 5 USD. 

Don’t withdraw big sums of riels at once, if you’re not going to spend all of them during your stay in Cambodia it’ll be difficult to change this money back. 

Among the most popular banks which ATMs you can easily use are ANZ, Acleda and Canadia with over 50 ATMs around the country. ANZ is very popular among foreigners, this bank has branches in Phnom Penh, Siem Reap and other tourist cities. ATMs of this financial institution can be found at petrol stations, in restaurants, shopping centers, hotels. 

If you would like to avoid any issues such as your card being suspended due to transactions in Cambodia, it’s better to inform it in advance that you’re planning to visit this country. 

Also not, ATMs dispense high denomination banknotes. For example, if you want to cash out $200, you will most likely receive two $100 bills each.
For smaller bills, instead of 200, try cashing out 160 or 180.

How to exchange Local Currency to KHR

It’s better to avoid exchanging large sums for local riels. Firstly, they may not be needed – one way or another, everywhere it’s possible to make payment in dollars.

If you still need to exchange in larger cities like Phnom Penh or Siem Reap, except of banks, you can check exchange offices that usually offer better exchange rates. There are also many kiosks at the markets where you can change USD to KHR, but please be informed in advance that there are many fake USD walking around Cambodia.

If you’re planning to visit bank, check working schedule in advance, banks are closed on weekends as public holidays.

Make sure to check notes before taking and leave if you doubt the authenticity of banknotes.

You can also exchange money at the airport, but the rates are usually not the best ones.

Currency in Cambodia

What Else to Know about Money in Cambodia

In some border areas of the country, you can also pay with currencies on nearby countries. In Poipet, located near the border with Thailand, it is possible to pay in Thai baht.

Payments in Thai currency are widespread in the city of Siem Reap. The fact is that many travelers come here from Thailand, ordering day tours to the temple complex Angkor Wat .

In some areas located near state borders of Vietnam, it is possible to pay sellers with Vietnamese dong and Lao kip.

How much money to take with you depends on the purpose of the trip. On average, about 1 thousand dollars for 7-10 days of rest is enough.

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