Cambodia’s currency is the riel, abbreviated in this guide by a lower-case ‘r’ written after the sum. Cambodia’s second currency (some would say its first) is the US dollar, which is accepted everywhere and by everyone, though change may arrive in riel. Dollar bills with a small tear are unlikely to be accepted by Cambodians, so it’s worth scrutinizing the change you are given to make sure you don’t have bad bills. In the west of the country, the Thai baht (B) is also commonplace. If three currencies seem a little excessive, perhaps it’s because the Cambodians are making up for lost time: during the Pol Pot era, the country had no currency. The Khmer Rouge abolished money and blew up the National Bank building in Phnom Penh.
The sinking fortunes, of the riel meant that, until recently, it was hardly worth the paper it was printed on. The government has responded by creating new higher-value denominations, although notes of 20,000r and higher are still a fairly rare sights. The riel comes in notes of the following denominations: 50r, 100r, 200r, 500r, 1000r, 2000r, 5000r, 10,000r, 20,000r, 50,000r and 100,000r.
Throughout this book, prices are in the currency quoted to the average punter. This is usually US dollas or real, but in the west it is often baht. While this may seem inconsistent, this is the way it’s done in Cambodia and the sooner you get used to thinking comparatively in riel, dollars or baht, the easier your travels will be.
For a sprinkling of exchange rates at the time of going to print, see the Quick Reference section in the inside front cover of this book.
ATMs
Hard as it may be to believe, there are still no credit card-compatible ATMs in Cambodia. There are well-founded rumors of ANZ bank entering the market soon and blitzing the country with ATMs, which should make life easier for locals and foreign visitors alike,… unless they dispense in riels!
Black Market
The black market no longer exists in Cambodia when it comes to changing money. Exchange rate on the street are the same as those offered by the banks, you just miss out on the queues and paperwork.
Cash
The US dollar remains king in Cambodia. Armed with enough cash, you won’t need to visit a bank at all because it is possible to change small amounts of dollars for riel at hotels, restaurants and markets. Hardened travelers argue that your trip ends up being slightly more expensive if you rely on US dollars rather than riel, but in reality there’s very little in it. However, it never hurts to support the local currency against the greenback. It Is always handy to have about US$10 worth of riel kicking around, as it is good for motor (small motorcycles with drivers) and markets. Pay for something cheap in US dollars and the change comes in riel; gradually enough riel will accumulate in your wallet to pay for small items anyway. In remote areas of the north and northeast, locals often prefer riel.
The only other currency that can be useful is Thai baht (in the West of the country). Prices in towns such as Krong Koh Kong, Poipet and Sisophon are often quoted in baht, and even in Battambang it is as common as the dollar.
There are no banks at any of the land border crossings into Cambodia, meaning credit cards and travelers cheques are effectively useless on arrival. In the interests of making life as simple as possible, organize a supply of US dollars before arriving in Cambodia. Cash in other major currencies can be changed at banks or markets in Phnom Penh or Siem Reap. However, most banks tend to offer a miserable rate for any non-dollar transaction so it can be better to use moneychangers, which are found in and around every major market. Even at markets, the rate for other currencies is relatively poor compared with the US dollar.
The Foreign Trade Bank can arrange transfers and has partner banks in the USA, Europe, Asia and Australia, with relevant addresses and account details helpfully listed on a free handout, available at all branches. Western Union and Moneygram are both now represented in Cambodia for fast, if more expensive, money transfers. Western Union is represented by Acleda Bank and Cambodia Asia Bank, and Money gram is represented by Canadia Bank.
Credit Cards
Top-end hotels, airline offices and up-market boutiques and restaurants generally accept most major credit cards (Visa, MasterCard, ICB), but they usually pass the charges straight on to the customer, meaning an extra 3%.
Cash advances on credit cards are available in Phnom Penh, Siem Reap, Sihanoukville, Kampot, Battambang and Kompong Cham. Canadia Bank and Union Commercial Bank offer free cash advances, but most other banks advertise a minimum charge of US$5. Acleda Bank claims to be upgrading its services from 2005 to include cash advances, and it operates the most extensive network of branches in the country.
Several travel agents and hotels in Phnom Penh and Siem Reap arrange cash advances for about 5% commission; this can be particularly useful if you get caught short at the weekend.
Tipping
Tipping is not traditionally expected here, but in a country as poor as Cambodia, tips can go a long way. Salaries remain extremely low and service is often superb thanks to a Khmer commitment to hospitality. Hence a tip of just US$1 might be half a day’s wages for some. Many of the up-market hotels levy a 10% service charge, but this doesn’t always make it to the staff. If you stay a couple of nights in the same hotel, try to remember to tip the staff that clean your room. Consider tipping drivers and guides, as the time they spend on the road means time away from home and family.
It is considered proper to make a small donation at the end of a visit to a wat, especially if a monk has shown you around; most wats have contribution boxes for this purpose.
Traveller Cheques
Travellers cheques can be changed at only a limited number of banks in PhnomPenh, Siem Reap, Sihanoukville, Battambang and Kompong Cham. If you traveling up-country, you should change enough money before you go. It is best to have cheques in US dollars, though it is also possible to change most major currencies at branches of Canadia Bank. Generally, you will pay about 2% commission to change travelers cheques. Acleda Bank claims it will be able to change travelers cheques by the time of publication and it operates the most extensive network of branches in the country.