The 38th Anniversary of the re-circulation of Riel

Published Date: Thursday March 22nd, 2018

In order to promote the use of Khmer Riel currency on various payments throughout the country, on March 20th, 2018, at the Cambodia-Korea Cooperation Center (CKCC) of the Royal University of Phnom Penh, held the “Riel Day” to commemorate the 38th Anniversary of the re-circulation of Riel. The program was initiated by the National Bank of Cambodia under the support of Credit Bureau Cambodia (CBC) and some other institutions.

Speaking at the program, H.E. Ouk Maly, Deputy Governor of the National Bank of Cambodia, stated “Strengthening the effectiveness of monetary policy and exchange rates will contribute to maintaining price and macroeconomic stability as well as financial stability if any potential economic collapse. The greater the use of the riel note, the more income the country will benefit from both bills printing and government’s revenues. It could then use for economic development and other expenses and reduce the vulnerability of the volatility of the US dollar.”

“We are very happy and strongly support the initiative to empower the uses of riel currency throughout the country,” said Mr. OEUR Sothearoath, Chief Executive Officer of Credit Bureau Cambodia. “This year, Credit Bureau Cambodia has also set up our salary and other payment in riel. We are happy to see more circulation of the riel in the market and we hope that people and other institutions will pay more focus on the use the riel note to stabilize and develop the country economic.” he added.

Credit Bureau Cambodia is the leading provider of financial information, analytical solutions, and credit reporting services to financial institutions and end-consumers in the Kingdom of Cambodia. It assists its customers in managing the risks and rewards of commercial and financial decisions.