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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.
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