Any truth: Cambodia banks no longer accepting small denomination dollars?
Any truth: Cambodia banks no longer accepting small denomination dollars?
There's a Facebook post claiming that banks are no longer accepting small bills.
It links to this document: https://www.fastnewsdaily.com/d/55162.h ... vtgWJDoXrg
Any truth to it?
It links to this document: https://www.fastnewsdaily.com/d/55162.h ... vtgWJDoXrg
Any truth to it?
The National bank doesn’t want to deal with them and has asked banks to get rid of their small notes in 3 months or pay for transportation.
This github & facebook does not show with a message about disabling trackers, etc. Though that does not make a difference.
How about "small" Riel notes ?
How about "small" Riel notes ?
The official notice mentioned above is correct.
But, the local Khmer market here in Siem Reap my went to at 8am would not take 1's or 5's today...She came home and tried to explain it to me ....they would take a $10....from her.
The official explanation says they both can still be used even after the 3 month grace period.
I told my wife that I like getting change in Riel and I suspect tourists would too.
Angkor Market was using 4150-1 as the exchange rate the other day.
It was 4100-1...
If the economy here does not improve the Riel could lose more value.
I don't blame them for doing this.
I prefer to keep US in one section of my wallet and Riel in the other.
My $1us tip will now be 4000 Riels...
My $5us tuk tuk standard will become 20,000 Riels...I save money even when I tip now.
But, the local Khmer market here in Siem Reap my went to at 8am would not take 1's or 5's today...She came home and tried to explain it to me ....they would take a $10....from her.
The official explanation says they both can still be used even after the 3 month grace period.
I told my wife that I like getting change in Riel and I suspect tourists would too.
Angkor Market was using 4150-1 as the exchange rate the other day.
It was 4100-1...
If the economy here does not improve the Riel could lose more value.
I don't blame them for doing this.
I prefer to keep US in one section of my wallet and Riel in the other.
My $1us tip will now be 4000 Riels...
My $5us tuk tuk standard will become 20,000 Riels...I save money even when I tip now.
$ 1, $ 2 and $ 5 denominations are still common in Cambodia
I would like to clarify to the people of the country more on the announcement of the NBC on this afternoon, May 28, 2020, that the US $ 1, $ 2, and US $. $ 5 is still widely available on the nationwide market, as is not rumored. In the event of a halt to the circulation of the US currency above, there is an official announcement from the National Bank of Cambodia.
Citizens continue to spend freely on US $ ($ 1, $ 2, $ 5) with no water or pennies.
Best wishes to all our countrymen and good luck in the disease, and all of them.
I would like to clarify to the people of the country more on the announcement of the NBC on this afternoon, May 28, 2020, that the US $ 1, $ 2, and US $. $ 5 is still widely available on the nationwide market, as is not rumored. In the event of a halt to the circulation of the US currency above, there is an official announcement from the National Bank of Cambodia.
Citizens continue to spend freely on US $ ($ 1, $ 2, $ 5) with no water or pennies.
Best wishes to all our countrymen and good luck in the disease, and all of them.
Saw some people claiming they are having trouble spending small USD notes in Cambodia already, street vendors afraid to accept the notes.
"Those who can, do. Those who can't, teach. Those who can't teach, teach English."
Credit Jacked Camry & LTO
Credit Jacked Camry & LTO
One reason is because rumors spread on facebook and Khmer people accept them as fact. My wife got back from the market where she was told no more notes below a $10us and watched the official video and clarification.
It is no big thing.
I wanted to read an English translation to understand the situation.
I think most people like having some smaller notes in Riel...
It is no big thing.
I wanted to read an English translation to understand the situation.
I think most people like having some smaller notes in Riel...
Same here, gf got back from the local market telling me of the 'news'. I went to Aeon mall, and nothing had changed there. Then I went to a few local marts, and they were also accepting smaller dollar bills. I find them useful for buying gas and refill my phone. The riel in my wallet seem to vaporize quicker than $10 notes, I keep mixing up 5000/10000 denominations, when in a hurry, and 'they' know that.
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- OneTrickPony
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- Joined: Tue Aug 20, 2019 12:48 pm
They're obviously expecting the dollar to devalue due to the recent and expected increases in the US money supply. 10s will replace the ones, 20's the twos, 50s the fives.
The Riel will soon be pegged to the gold backed digital Yuan, bringing in a new era of real fiat money as opposed to unbacked currency.
The Riel will soon be pegged to the gold backed digital Yuan, bringing in a new era of real fiat money as opposed to unbacked currency.
Up the workers!
I like the fact that someone who invests in a non income bearing and extremely volatile asset claims not to be ‘playing the markets’.
I’m sure those who invested in Tulips in the 1630s thought the same.
I’m sure those who invested in Tulips in the 1630s thought the same.
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And the self-loathing so common in your lefty didactic type.slavedog wrote: ↑Sat May 30, 2020 9:42 amHe seems to have a pathological obsession with money.Lucky Lucan wrote: ↑Sat May 30, 2020 9:38 amSo you are basically a capitalist who supports a currency that wastes a huge amount of power and pays dividends for no effort to elite investors, but all the other policies you support are far left? A man of many contradictions.
I bought a Bitcoin for a laugh. It's fun to watch it and it'll either be worth nothing or quite a lot in 10 years.
Like all investments, a balanced portfolio is sensible. If you have some resources, there is nothing wrong - in fact it’s quite sensible - chucking in 5-10% in a purely speculative asset. It also depends greatly on where you are in life - age, dependency on your pot for income etc.RobW wrote: ↑Sat May 30, 2020 1:18 pmAnd the self-loathing so common in your lefty didactic type.slavedog wrote: ↑Sat May 30, 2020 9:42 amHe seems to have a pathological obsession with money.Lucky Lucan wrote: ↑Sat May 30, 2020 9:38 amSo you are basically a capitalist who supports a currency that wastes a huge amount of power and pays dividends for no effort to elite investors, but all the other policies you support are far left? A man of many contradictions.
I bought a Bitcoin for a laugh. It's fun to watch it and it'll either be worth nothing or quite a lot in 10 years.
Golden rule of investing - commit only what you can afford to lose.
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- OneTrickPony
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2. Don't forget to rake.
Up the workers!
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