Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Hold Riels Sell Dollars

Hold Riels Sell Dollars

The Riel appreciated significantly last week against the U.S. dollar in what Minister

of Finance and Economics Sam Rainsy says is a reflection of "political stability"

in the country.

"We, as Cambodians, are very proud to see the value of our national currency

re-appreciated. This is another testimony to the return of confidence in the riel,"

Rainsy told a press conference last Saturday.

The Riel, which had been trading at between 2,600 and 2,700 per dollar for several

months, suddenly dropped to 2,000 per dollar before leveling off at 2,100 on Nov.

16.

The Riel's strengthening affected prices on imported goods such as gasoline and cigarettes.

The price of a liter of gasoline dropped from 600 to 500 riels overnight

Rainsy attributed political stability as the main factor of this "automatic

drop"- as he called it - which would help the living conditions of the majority.

0

Comments

Please, login or register to post a comment

Latest Video

Turkish Embassy calls for closure of Zaman schools

With an attempted coup against the government of President Recep Erdogan quashed only days ago and more than 7,000 alleged conspirators now under arrest, the Turkish ambassador to Cambodia yesterday pressed the govern

CNRP lawmakers beaten

Two opposition lawmakers, Nhay Chamroeun and Kong Sakphea were beaten unconscious during protests in Phnom Penh, as over a thousand protesters descended upon the National Assembly.

Student authors discuss "The Cambodian Economy"

Student authors discuss "The Cambodian Economy"

Students at Phnom Penh's Liger Learning Center have written and published a new book, "The Cambodian Economy".