Using dollars in Cambodia is stupid

[MrPancake]

Unless you're american, don't get dollars to spend in Cambodia.

It's stupid.

You will get it up the brownie twice.

First you'll exchange whatever money you have for dollars or withdraw dollars.

In both cases, you will pay a commission.

Withdrawal is usually a flat rate of 5 dollars + whatever your bank fee is + whatever rate visa / mastercard is offering.

So that's already some of your money gone.

Then you'll pay in dollars and get riels back at the unofficial rate of 1dollar = 4000 riels.

That's a 123 riels loss on each dollar based on the current official rate - roughly 3%.

So another 3$ down the drain for each 100$ bill you have.

 

I got 400$ soooo :

 

5$ ATM withdrawal fee + 3.50$ Wise fee (1.75% after the first fee-free 200$) + 12$ in unfavorable FX rate when buying stuff.

 

A total of roughly 20$ on 400$   <<<<<< I hate this country >>>>>> LOL

 

 

 

[bignok]

Bend ovèr

[MrPancake]

Just now, bignok said:

Bend ovèr

 

You know what ? You were right.

"True. I'm gonna think about it." and "I'm gonna think about it" mean the exact same thing.

I'm out.

Back to Vietnam next week.

I'll spend my dollars elsewhere lol

[2baht]

8 minutes ago, MrPancake said:

  

Back to Vietnam next week.

I'll spend my dollars elsewhere lol

 

      Do you think the Cambodian economy will survive?

[Trippy]

Good luck explaining to a Cambodian farm girl who doesn't speak english about the current usd/aud exchange rate.

[MrPancake]

9 minutes ago, 2baht said:

 

      Do you think the Cambodian economy will survive?

 

By the look of it, it's already dead.

[MrPancake]

9 minutes ago, Trippy said:

Good luck explaining to a Cambodian farm girl who doesn't speak english about the current usd/aud exchange rate.

 

Why would I do that ?

[bignok]

1 hour ago, MrPancake said:

 

You know what ? You were right.

"True. I'm gonna think about it." and "I'm gonna think about it" mean the exact same thing.

I'm out.

Back to Vietnam next week.

I'll spend my dollars elsewhere lol

Ok

 

[bignok]

Travel is like this. Some cities you love, some you hate. At least you went had a look.

[ChaiyaTH]

I thought this was a joke post but the OP is actually serious, get a life. If you are that cheap you could have gotten your dollars upfront outside of the country too, and once you have dollars, you can just pay in dollars anywhere too, no need to change it. Whining over 120 riels, 0,029 USD cents lol.

Even you would lose 20 dollars on your exchanged money, you get cheap beers that earn it back already after 10.

[swerve]

Sounds like a good money spinner for the Cambodians.  I agree with the OP that it's a ripoff.  Whether it's enough to care, is another matter.

[MrPancake]

3 minutes ago, ChaiyaTH said:

I thought this was a joke post but the OP is actually serious, get a life. If you are that cheap you could have gotten your dollars upfront outside of the country too, and once you have dollars, you can just pay in dollars anywhere too, no need to change it. Whining over 120 riels, 0,029 USD cents lol.

Even you would lose 20 dollars on your exchanged money, you get cheap beers that earn it back already after 10.

 

The only thing I've understood is that I should get a life.

The logic of everything that follows is above me.

Sorry. Got a low IQ.

[ChaiyaTH]

3 minutes ago, swerve said:

Sounds like a good money spinner for the Cambodians.  I agree with the OP that it's a ripoff.  Whether it's enough to care, is another matter.

It's not a money spinner, the cambodians even use dollars themselves. It always been like this. The riels are just not useful and require a lot of dirty notes compared to dollars. Just for small change they always use riels. Most pricing is even default in dollars. 

[swerve]

It's a bank money spinner.  Happens often in the third world.  I once took Baht to the Philippines and got a good exchange in Manila.  Then, when I got to Boracay the Baht exchange value decreased by over 50%.  Once I got to Clark/Angeles the Baht exchange was back to normal.  

[MrPancake]

1 minute ago, ChaiyaTH said:

It's not a money spinner, the cambodians even use dollars themselves. It always been like this. The riels are just not useful and require a lot of dirty notes compared to dollars. Just for small change they always use riels. Most pricing is even default in dollars. 

 

Outside of cities like PP nobody uses dollars on a regular basis.

In Phnom Penh every cambodian I've seen is paying in riels.

Change always comes in riel as well unless you ask for dollars.

They ain't stupid.

[ChaiyaTH]

Just now, MrPancake said:

 

Outside of cities like PP nobody uses dollars on a regular basis.

In Phnom Penh every cambodian I've seen is paying in riels.

Change always comes in riel as well unless you ask for dollars.

They ain't stupid.

No because outside of the bigger cities they are extremely poor. So then the small domination notes are perfectly fine.

[MrPancake]

Just now, ChaiyaTH said:

No because outside of the bigger cities they are extremely poor. So then the small domination notes are perfectly fine.

 

Might be true for 100 and 500 riels notes but starting from 1000 onwards, they use their local notes everywhere.

Have you ever been to Cambodia, bro ?

Because it surely feels like you've no idea how things work here.

And don't tell me it's the other way around because I'm in PP as we speak ;)

 

[Dante99]

34 minutes ago, ChaiyaTH said:

I thought this was a joke post but the OP is actually serious,

+1

[RanongCat]

1 hour ago, MrPancake said:

 

By the look of it, it's already dead.

Some  might argue that it  has never been really alive  so existing on life support offers promise of possible  wealth  or bliss in succumbing to death. Asia  demonstrates stark reality of the circumstance most of the worlds populace relatively  exists in.

No mention of  what the depreciated eventual cash in hand buys for the savvy in Cambodia.

[StayinThailand2much]

59 minutes ago, swerve said:

It's a bank money spinner.  Happens often in the third world. 

 

Not just in the third world. Spent some time in Australia; while some tour companies and hotels charged a fair rate, a few used the opportunity to overcharge by using a rate more reminiscent of a cash currency exchange rate (for online bookings that is)...

[Doctor Tom]

14 minutes ago, StayinThailand2much said:

 

Not just in the third world. Spent some time in Australia; while some tour companies and hotels charged a fair rate, a few used the opportunity to overcharge by using a rate more reminiscent of a cash currency exchange rate (for online bookings that is)...

Not a surprise really.  I found Australia one of the biggest rip off destinations in the World. 

[MrPancake]

56 minutes ago, RanongCat said:

Some  might argue that it  has never been really alive  so existing on life support offers promise of possible  wealth  or bliss in succumbing to death. Asia  demonstrates stark reality of the circumstance most of the worlds populace relatively  exists in.

No mention of  what the depreciated eventual cash in hand buys for the savvy in Cambodia.

 

Good point. It was probably a bit better prior to covid though.

I've been talking with a guide selling stuff near the Tonlé Sap.

He told me things didn't really picked up of the pandemic.

Riel holding on good on the Forex compared to the Lao kip though...

[NoDisplayName]

3 hours ago, MrPancake said:

Then you'll pay in dollars and get riels back at the unofficial rate of 1dollar = 4000 riels.

That's a 123 riels loss on each dollar based on the current official rate - roughly 3%.

So another 3$ down the drain for each 100$ bill you have.

 

Why would you do that?

 

Shirley, you'd take your big, handsome, crisp $100 bills to the local market and exchange whatever you estimate you'll need for your visit.  Then all your purchases will be with riel, no dollars.

[MrPancake]

3 minutes ago, NoDisplayName said:

 

Why would you do that?

 

Shirley, you'd take your big, handsome, crisp $100 bills to the local market and exchange whatever you estimate you'll need for your visit.  Then all your purchases will be with riel, no dollars.

 

Whoever you use to exchange your dollars in riels will take a commission (which is normal).

The best way to do things is just to not bother with dollars in the first place and withdraw riels.

 

It also avoid some people taking advantage of you when giving you riels back. Some try to give you less counting on the fact that you won't be able to calculate the right amount of change in riels. Happens to me twice already. Thanks god I'm not too at mental calculation so I kindly reminded my interlocutors to please stop f'ing around.

 

Anyways. That's Cambodia.

[Moneyhonour]

I was also thinking this was a joke post.

Been many times to Cambodia and will go next January.

I have never exchanged Dollars for Riel. All my payments I do is in cash Dollars even in the small villages.

The problem in Cambodia is that they don't have small change from, for instance big Dollar bills $10 and up.

$1, $2 and $5 sometimes $10 will do the trick.

The big notes $20, $50 and $100 I use for my hotel payments and have never had a problem with accepting.

I get my Dollars cheap because the American tourists whom visiting my country are accepting my exchange rate for my Euro's. It's a win win situation.

[MrPancake]

18 minutes ago, Moneyhonour said:

I was also thinking this was a joke post.

 

It is kind of a joke post.

20 dollars ain't the end of the world.

I just find it dumb to get dollars, pay more, and then end up with riels anyway.

It makes everything more complicated, increases the risk of being scammed.

Doesn't bring any added value.

Dollars are just unnecessary imo.

Now if you like using them. Do it.

Especially if you get them at a good rate.

As for PP, it sucks.

It's dirty.

It's expensive (in relative terms of course).

There's almost nothing to do.

You got hustlers and children bothering you every 5 minutes.

I haven't been able to sit on the promenade and have a drink without being bothered by a kind of dumbass. And believe me I've been trying for 3 days.

No wonder expats look like bums here.

After a week, the only thing to do is drink and smoke to kill time.

 

 

 

[Moneyhonour]

Then I don't understand your joke. Cambodia is a beautiful country with lots to do.

Siem Reap nightlife, Ankor Wat and surroundings 

PP nightlife in street 51 with two famous nightclubs and the RLD in street 136 up, also very good restaurants trough out the city.

Kep/Kampot for deliciousness Black Pepper Crab and of course their famous pepper plantations. The former French/Indochina Riviera with very good resorts.

Sihanoukville and the Islands.

What's not to like? 

The country is going with the flow of quality tourists, Backpackers on a budget can better go to Laos.

 

[Lacessit]

3 hours ago, bignok said:

Bend ovèr

The appropriate acronym is BOHICA.

[MrPancake]

28 minutes ago, Moneyhonour said:

Then I don't understand your joke. Cambodia is a beautiful country with lots to do.

Siem Reap nightlife, Ankor Wat and surroundings 

PP nightlife in street 51 with two famous nightclubs and the RLD in street 136 up, also very good restaurants trough out the city.

Kep/Kampot for deliciousness Black Pepper Crab and of course their famous pepper plantations. The former French/Indochina Riviera with very good resorts.

Sihanoukville and the Islands.

What's not to like? 

The country is going with the flow of quality tourists, Backpackers on a budget can better go to Laos.

 

 

Ok so essentially you don't understand yourself and why you thought this post was a joke in the first place.

So let me clarify because you're obviously struggling.

The way I presented things was kind of a joke. You know ?

Like the gif saying I'm laughing not to cry, etc...

Over-dramatization if you will.

What is not a joke is the fact that the entire system is design to get as much of your money as possible in exchange of nothing. I'm a capitalist and I like to get stuff for my bucks.

 

I didn't say Cambodia wasn't a beautiful country. I said PP sucks.

Restaurants might be good. They're also horrendously overpriced.

Everything is far more expensive than in Thailand and Vietnam.

And there is no credible justification for that.

You can say whatever you want, the fact remains that the entire city riverside is in the business of ripping off tourists.

 

PP is just terrible value for money.

Cambodian ATMs are a rip-off.

Dollars are useless.

And, as demonstrated in my OP, in the best case scenario (that is if you use a wise card), you'll need to pay a 5% fee on whatever you want to spend in order to be able to spend it.

If you ain't using Wise, It's probably more like 8-10% depending on how f$cked up your bank is.

This is BS. Period.

[couchpotato]

3 hours ago, swerve said:

Sounds like a good money spinner for the Cambodians.  I agree with the OP that it's a ripoff.  Whether it's enough to care, is another matter.

Ripoff...absolute rubbish