Alan, did you ever get an answer to your question?
I don't know why but it came into my mind during my commute this morning.
Could it be related to the net movement of cash in and out of cambodia? Through official (banking) routes. Was thinking maybe big investments coming in would increase the amount of $$ in play on the streets and weaken the riel.
And conversely if more money is leaving cambodia the riel would be stronger.
I'm just guessing - my hypothesis could be garbage.
USD to KHR fluctuations
- Khmerhamster
- Bark plop plop bark woof woof
- Reactions: 0
- Posts: 1519
- Joined: Mon May 09, 2016 2:14 pm
-
- MerkinMaker
- Reactions: 62
- Posts: 3232
- Joined: Wed Mar 21, 2012 11:04 am
I was told a few years back that the Bank of Cambodia decides the upper and lower bounds. When it gets close to the upper or lower limits they buy or sell Riel from wholesale currency traders that operate out of the gold shops around Psar Tmei.
Apparently the amount of Riel in circulation then was so low that it often only took a $100k to trigger a movement. The cycle is dictated by the harvest as village level agriculture trade is still done in Riel.
Apparently the amount of Riel in circulation then was so low that it often only took a $100k to trigger a movement. The cycle is dictated by the harvest as village level agriculture trade is still done in Riel.
-
- I need professional help
- Reactions: 0
- Posts: 1140
- Joined: Thu Jul 28, 2016 8:48 am
[quote="RobW"]My understanding is that four gentlemen sit down in a room from time to time and decide what the upper and lower limit will be.
Seems more feasible than anything else.[/quote]
This is what I heard too. Cambodia doesnt exactly follow the international standard, big money are kept in dollars anyway. An acquaintance who works at the national bank of cambodia said the 'big men' sometime use the xe.com for currency comparison before deciding on the rate.
Seems more feasible than anything else.[/quote]
This is what I heard too. Cambodia doesnt exactly follow the international standard, big money are kept in dollars anyway. An acquaintance who works at the national bank of cambodia said the 'big men' sometime use the xe.com for currency comparison before deciding on the rate.
EVERYONE BOW DOWN TO HIS MAJESTIES phat kunthea™