Cambodian riel

Cambodian riel
រៀល (Khmer)
ISO 4217 code KHR
Central bank National Bank of Cambodia
 Website www.nbc.org.kh
User(s)  Cambodia
Inflation 6.2%
 Source The World Factbook, 2011 est.
Subunit
 1/10 kak
 1/100 sen
Symbol ៛
Coins 50, 100, 200, 500 riels
Banknotes
 Freq. used 100, 500, 1000, 2000, 5000, 10,000, 20,000, 50,000 riels
 Rarely used 50, 100,000 riels

The riel (Khmer: រៀល; sign: ៛; code: KHR) is the currency of Cambodia. There have been two distinct riel, the first issued between 1953 and May 1975. Between 1975 and 1980, the country had no monetary system. A second currency, also named "riel", has been issued since March 20, 1980. However, this currency has never gained much public acceptance, with most Cambodians preferring foreign currency.[1] The UN peacekeeping operation of 1993 injected a large quantity of U.S. dollars into the local economy. As a result, the dollar has become the country's common currency.[1] Riel notes are used for fractional dollar amounts as U.S. coins are not in circulation. The symbol is encoded in Unicode at U+17DB ៛ KHMER CURRENCY SYMBOL RIEL (HTML ៛).

Popular belief suggests that the name of the currency comes from the Mekong river fish, the riel ("small fish" in Khmer). It is more likely that the name derives from the high silver content Mexican real used by Malay, Indian and Chinese merchants in mid-19th-century Cambodia.[2]

First riel, 1953-1975

In 1953, the Cambodia branch of the Institut d'Émission des États du Cambodge, du Laos et du Vietnam issued notes dual denominated in piastre and riel with the riel being at par with the piastre.[3] At the same time, the two other branches of the Institut had similar arrangements with the đồng in South Vietnam and the kip in Laos. The piastre itself was derived from Spanish pieces of eight (pesos).

The riel was at first subdivided into 100 centimes (abbreviated to cent. on the coins) but this changed in 1959 to 100 sen (សេន). For the first few years, the riel and piastre circulated alongside each other. Indeed, the first riel banknotes were also denominated in piastres.

Coins

The 10, 20 and 50 centimes of 1953 and sen coins were minted in aluminium and were the same size as the corresponding att and xu (su) coins of Laos and South Vietnam (though without the holes in the Lao coins). A 1 riel coin about the size of a U.S. nickel was to be issued in 1970, as part of the United Nations' Food and Agriculture Organization's coin program, but was not released, perhaps due to the overthrow of the government of Norodom Sihanouk by Lon Nol.[5]

Since 1994, the 50, 100, and 200-riel coins have been made of steel, while the 500-riel coin is bimetallic, with a brass outer ring and a steel center disc.

The Khmer Rouge, 1975-1980, 1993-1999

Although the Khmer Rouge printed banknotes, these notes were not issued as money was abolished after the Khmer Rouge took control of the country.

In 1993 they printed a series of coloured banknotes for limited use on territories controlled by them.

Second riel, 1980-

After the Vietnamese invasion in 1978, the riel was re-established as the Cambodian currency on April 1, 1980, initially at a value of 4 riels = 1 U.S. dollar. It is subdivided into 10 kak (កាក់) or 100 sen. Because there was no money for it to replace and a severely disrupted economy, the central government gave away the new money to the populace in order to encourage its use.

In rural areas the riel is used for virtually all purchases, large and small. However, the United States dollar is also used, particularly in urban Cambodia and tourist areas. In Battambang and other areas near the Thai border, like Pailin, the Thai baht is also accepted.

Currently issued banknotes

Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse printing issue withdrawal lapse
50 riels 130 x 60 mm Dark brown and tan Prasat Banteay Srei Dam 2002 August 29, 2002 current
100 riels 130 x 60 mm Purple, brown and green Independence Monument School 2001 August 9, 2001 current
100 riels Orange and brown Naga (mythical snake) head, Buddha, King Father Norodom Sihanouk as a young monk Khmer statue, Wat Preah Keo (Silver palace), Buddha 2014 January 14, 2015 current
500 riels 138 x 64 mm Red and purple Angkor Wat Kampong Cham Bridge over the Mekong 2002 April 4, 2003 current
500 riels Pink and gray Naga (mythical snake) head, arms, king Norodom Sihamoni Nak Loeung bridge, Kizuna (Cambodia-Japan Friendship) bridge over the Mekong River, monument, frieze 2014 January 14, 2014 current
1,000 riels 138 x 64 mm Brown and lilac Southern gate at Bayon Port of Kampong Saom (Sihanoukville) 2005 January 6, 2006 current
2,000 riels 146 x 68 mm Green, black and yellow Prasat Preah Vihear Angkor Wat and Field Work 2007 January 3, 2008 current
5,000 riels 146 x 68 mm Green and gray Norodom Sihanouk Bridge of Kampong Kdei (Siem Reap Province) 2001 April 6, 2001 current
10,000 riels 146 x 68 mm Violet, brown and blue Norodom Sihanouk Royal Palace 2001 April 6, 2001 current
10,000 riels 146 x 68 mm Blue Naga, mythical snake; King Norodom Sihamoni Neak Pean (entwined serpents) archeological ruins of Buddhist temple on circular island in Preah Khan Baray, Angkor; stone statue of horse, Balaha 2015 May 15, 2015
20,000 riels 155 x 72 mm Norodom Sihamoni Angkor Wat, Four faces of the Bodhisattva Avalokitesvara 2008 December 5, 2008 current
50,000 riels 150 x 70 mm Violet, brown and blue Norodom Sihanouk Angkor Wat 2001 April 6, 2001 current
50,000 riels 155 x 72 mm Brown Naga (mythical snake), King Norodom Sihanouk Korker ruins, sculpture of a baby elephant 2013 May 6, 2014 current
These images are to scale at 0.7 pixels per millimeter. For table standards, see the banknote specification table.
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse printing issue withdrawal lapse
1000 riels 148 x 68 mm Lilac and dark-blue Naga (mythical snake) head, Royal Arms of Cambodia, King Norodom Sihanouk Royal Palace throne room, swan-shaped float carrying Sihanouk's body 2012 January 30, 2013
2000 riels Naga (mythical snake) head, Royal Arms of Cambodia, King Norodom Sihanouk King Norodom Sihanouk alongside two soldiers 2013 November 8, 2013
100,000 riels Royal Arms of Cambodia, King Father Norodom Sihanouk, Queen Mother Norodom Monineath, Naga (mythical snake) head King Father Norodom Sihanouk, Queen Mother Norodom Monineath and King Norodom Sihamoni, stone sculpture 2012 May 14, 2013
These images are to scale at 0.7 pixels per millimeter. For table standards, see the banknote specification table.

Coins

The first coins were 5 sen pieces, minted in 1979 and made of aluminum. No more coins were minted until 1994, when denominations of 50, 100, 200 and 500 riel were introduced. However, these are no longer commonly found in circulation.[7]

Current KHR exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY
From XE: AUD CAD CHF EUR GBP HKD JPY USD CNY
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD CNY
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD CNY
From Currency.Wiki: AUD CAD CHF EUR GBP HKD JPY USD CNY

See also

Wikimedia Commons has media related to Money of Cambodia.

References

  1. 1 2 Chinese University of Hong Kong. "Historical Exchange Rate Regime of Asian Countries: Cambodia". Retrieved 2007-02-21.
    Riel or dollar: which currency for Cambodia, in a context of crisis?
  2. ↑ Filippi, Jean-Michel. "The strange adventure of the Cambodian currency". Phenom Penh Post. Retrieved 16 March 2012.
  3. ↑ A Brief History of Cambodian Currency
  4. 1 2 3 Cambodian Currency Collection Cambodian Currency Collection
  5. ↑ "Cambodian FAO 1 riel coin on catalog". Retrieved 2013-06-22.
  6. ↑ Linzmayer, Owen (2012). "Cambodia". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  7. ↑ De Launey, Guy (30 March 2011). "Cambodia's riel survives alongside the dollar". BBC News. BBC. Retrieved 18 March 2013.

External links

First riel
Preceded by:
French Indochinese piastre
Location: French Indochina
Reason: independence
Ratio: at par
Note: piastre not used in self-declared North Vietnam since 1946		 Currency of Cambodia
1953 – 1970
Note: transitional notes dual denominated in piastre and riel were used until 1955		 Currency of Khmer Republic
1970 – 1975		 Succeeded by:
Moneyless economy
Location: Kampuchea
Reason: The Khmer Rouge attempted to implement the Marxist vision of a money-less society
Note: The Khmer Rouge did print a series of riel. Some sources say they were never issued. Some say they were issued one month before they were abolished.
Second riel
Preceded by:
Vietnamese đồng
Reason: reintroduction of a national currency
Ratio: 1 riel = 3 đồng = 0.25 U.S. dollar = 1 kg rice		 Currency of Cambodia
1980 – 		Succeeded by:
Current
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