Bizaar new NBC rules on $100 bills with even slight marks
Bizaar new NBC rules on $100 bills with even slight marks
It appears that the custodians of our financial well being, the esteemed National Bank of Cambodia (NBC), has in their eternal wisdom decided that they will not longer take any $100 USD bills which have even the slightest mark on them. At least two retail banks are now enforcing this on the basis that they cannot bring the notes to the NBC, and no doubt the other banks will follow if this persists. This would basically render useless in Cambodia all bar new crisp bills.
It is possible that this 'genius' masterstroke by the NBC is an attempt to somehow discredit the US currency in their ongoing quest to dedollarize the economy. Presumably the hope is that this discredits the dollar to Joe Public who will then put his faith in the Riel. Their pitiful video on this subject released some time ago seems to be doing the rounds on social media again today in conjunction with this silly dictat.
The NBC needs to stop treating the Riel as a school project and get some professionals in to properly advance the currency. Feeble attempts to discredit the legal tender of another country, especially the US Dollar, are hardly likely to advance their agenda in the medium to long term but rather to cause bother and nuisance to the man on the street.
It is possible that this 'genius' masterstroke by the NBC is an attempt to somehow discredit the US currency in their ongoing quest to dedollarize the economy. Presumably the hope is that this discredits the dollar to Joe Public who will then put his faith in the Riel. Their pitiful video on this subject released some time ago seems to be doing the rounds on social media again today in conjunction with this silly dictat.
The NBC needs to stop treating the Riel as a school project and get some professionals in to properly advance the currency. Feeble attempts to discredit the legal tender of another country, especially the US Dollar, are hardly likely to advance their agenda in the medium to long term but rather to cause bother and nuisance to the man on the street.
Not heard that, do you have a link?
pew, pew, pew, pew!
- Khmerhamster
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I've heard it but dismissed it as just a Facebook rumour.
There is story told in (I think) Cambodia's curse. About the official in the ministry of finance charged with printing new riel notes. The story goes the company got the contract on the basis that they would provide several suitcases of high denomination undocumented riel to the person giving the contract.
Completely unsurprising, completely believable.
Great way to devalue your currency - but great way to line your own pockets.
There is story told in (I think) Cambodia's curse. About the official in the ministry of finance charged with printing new riel notes. The story goes the company got the contract on the basis that they would provide several suitcases of high denomination undocumented riel to the person giving the contract.
Completely unsurprising, completely believable.
Great way to devalue your currency - but great way to line your own pockets.
There is an NBC circular which seems to be driving it. Take a look at their Facebook page (yes I'm sad enough to have liked the NBC Facebook page!).
You can also see their pro Riel video there.
You can also see their pro Riel video there.
- Phuket2006
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Myanmar banks wont accept any bills that are creased, folded, torn, written on
ONLY difference is, in Myanmar you use the Local currency. (the Kyat) not $ as you did as recent as last year
Cambodia seems to be the ONLY se asia country that uses the US$ now ( although Laos accepts/requests them for VOA's)
ONLY difference is, in Myanmar you use the Local currency. (the Kyat) not $ as you did as recent as last year
Cambodia seems to be the ONLY se asia country that uses the US$ now ( although Laos accepts/requests them for VOA's)
"We are turning into a nation of whimpering slaves to Fear—fear of war, fear of poverty, fear of random terrorism, or suddenly getting locked up in a military detention camp on vague charges of being a Terrorist sympathizer." HST
Laos de facto uses three currencies, with THB and USD accepted pretty much everywhere at a fair rate to the Kip.
I doubt anything will happen before 2018, if that's what they are planning.
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NBC planning?YaTingPom wrote:... if that's what they are planning.
Oxymoron?Bosco wrote:NBC planning?YaTingPom wrote:... if that's what they are planning.
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- Felgerkarb
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Better hit the money changer every time I go to the ATM, since they seem to love giving out 100s. I got stuck with a few over the year. I had to hold onto them until I went to the US. Pain in the arse.
====================
Why are the gods such vicious cunts?
Where is the god of tits and wine?
Why are the gods such vicious cunts?
Where is the god of tits and wine?
Koh Santepheap published an article clarifying the thing with refusing US dollar notes: https://kohsantepheapdaily.com.kh/article/146114.html
In a nutshell, an unnamed NBC official clarified that the instructions sent to banks and financial institutions informed them that the NBC didn't have any duty to replace very old, stained, torn, burnt and otherwise damaged US Dollar bank notes beyond recognition with new ones.
They still accept US dollar notes from their clients, namely banks and financial institutions, as long as the notes are genuine and in proper acceptable conditions.
In a nutshell, an unnamed NBC official clarified that the instructions sent to banks and financial institutions informed them that the NBC didn't have any duty to replace very old, stained, torn, burnt and otherwise damaged US Dollar bank notes beyond recognition with new ones.
They still accept US dollar notes from their clients, namely banks and financial institutions, as long as the notes are genuine and in proper acceptable conditions.
Which could literally be interpreted as anything!Joon wrote: They still accept US dollar notes from their clients, namely banks and financial institutions, as long as the notes are genuine and in proper acceptable conditions.
- Miguelito
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I don't think they're that much of a problem... just don't give them to a tuk tuk.Felgerkarb wrote:Better hit the money changer every time I go to the ATM, since they seem to love giving out 100s. I got stuck with a few over the year. I had to hold onto them until I went to the US. Pain in the arse.
As does Indonesia.Phuket2006 wrote:(although Laos accepts/requests them [US dollars] for VOA's)
Well, the NBC official did specifically said that the notes with the tiny stamps are not an issue.Bosco wrote:Which could literally be interpreted as anything!Joon wrote: They still accept US dollar notes from their clients, namely banks and financial institutions, as long as the notes are genuine and in proper acceptable conditions.
They did have more details on the level of torn (more than 30% of the note) and the defacing of the notes (so damaged that they can't be recognized/examined)
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