NBC: Using the Riel will help to boost the Kingdom’s economy

[geovalin]

Encouraging the use of riel will help contribute to Cambodia’s economic growth despite low usage rates in the Kingdom’s economy, according to National Bank of Cambodia (NBC) deputy governor Neav Chanthana. According to a joint survey by NBC and the Japan International Cooperation Agency (Jica), the ratio of Cambodian riel in the income and expenditure of households and enterprises increased slightly between 2014 and 2017.

 

Chanthana, during a ceremony marking the 39th anniversary of the reintroduction of the riel on Monday, said the currency was reintroduced at a time when the Kingdom faced a lack of human resources and financial instruments, resulting in the currency not being fully functioning. “The use of the riel promotes investment and creates jobs,” she said. “The use of riel will help our country obtain more revenue from issuing the currency.”

 

She said it will allow NBC to increase Cambodia’s foreign exchange reserves and increase investor confidence. “The government can also develop a market skeleton in riel to provide financial support for infrastructure development and reduce foreign debt by mobilising capital in local currency,” she said.

 

read more https://www.phnompenhpost.com/business/nbc-using-riel-will-help-boost-kingdoms-economy

[Ulic]

Can you use the riel for visa payments and other government services? 

[jobsworth]

Presumably and since payments for government services are mostly below $100 one must by law pay in Riel. The border guards won't like that at all.