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Cambodia has recently emerged as a one of the most popular tourist destinations in world and a peek into the Cambodia Overview will make things clear. Cambodia is a kingdom in Southeast Asia with a population of almost 15 million people, with Phnom Penh being the capital city. This country was once the seat of the once powerful Hindu and Buddhist Khmer Empire, which ruled most of the Indochinese Peninsula between the eleventh and fourteenth centuries. The country has Thailand as a neighbor to its west and northwest, with Laos to its northeast, and with Vietnam to its east and southeast. In the south it faces the Gulf of Thailand. The official currency of Cambodia is used less often than US dollars.
It is often jokingly said the "real" currency of Cambodia is the US dollar. In fact if you are staying in Phnom Penh or visiting Angkor you can pay for almost all goods in US dollars.
The actual currency of Cambodia is riel. There have been two distinct issues of riels in the history of currency at Cambodia. The first time it was issued was between 1952 and 1975. The second time it was issued was in 1980. The country has no monetary system between 1975 and 1980 i.e. there was no riel or any kind of currency in Cambodia during this time period. In the past the currency of Cambodia had also come out in Cambodian tical and Cambodian franc versions.
When the currency of Cambodia, riel, was re-established in 1980 it was valued at 4 riels = 1 US dollar. It is subdivided into 10 kak or 100 sen. Later issues of banknotes went up to 100,000 riels. However, due to low prices in Cambodia, currency in Cambodia above 20,000 riels is rarely seen.
The currency of Cambodia is today used mainly for buying local produce and other merchandise. The US dollar, especially the one-dollar bill, is very prevalent throughout Cambodia for almost all purposes and is often preferred to the riel, earning the tag of unofficial second currency in Cambodia.
Resource from: www.asiarooms.com
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