Phnom Penh, Cambodia – The use of the Cambodian Riel (KHR) has seen a noticeable increase across the nation. However, despite this growing trend, many shops, supermarkets, and various businesses continue to price goods and services and conduct transactions primarily in US Dollars (USD). This prevalence of dollar-based transactions often presents challenges for students who receive their allowances in Riel from their parents.
Students frequently encounter situations where essential payments, such as school fees, are predominantly calculated in US Dollars rather than the national currency. Furthermore, a significant portion of goods available in the market, including electronics and other consumer items, are also priced and settled in USD.
This issue was highlighted by young students from the New Generation School at Preah Sisowath High School. Pen Monnychornai, a student, shared her perspective, with Teng Monnysokun echoing similar sentiments. Monnysokun explained, “Within the school environment, I typically use only Riel. However, if I wish to purchase items like a computer, a mobile phone, or other electronic devices, I usually have to pay in US Dollars because many vendors calculate prices in dollars. This means I need to convert my Riel into dollars to complete these purchases.”
Monnysokun emphasized his desire to see the Riel, as Cambodia’s national currency, given greater prominence and broader application. He advocated for all products sold in Cambodia to clearly display their prices in Riel. For these students, the Riel is not merely a convenient medium for payment; it embodies national identity and sovereignty, playing a crucial role in the national economy and helping to maintain market price stability.
Monnychornai further elaborated on the benefits of widespread Riel usage: “If all goods in our market were priced and transacted in Riel, it would be much easier for me, and indeed for all Cambodian citizens who primarily hold Riel. We wouldn’t need to constantly exchange Riel for Dollars to pay for items. Moreover, if we collectively embrace and use the Riel, it would significantly contribute to boosting our national economy.”
Khon Sereyvornath, another young student, asserted that the consistent use of the Riel is a factor in national development and serves as a unique identifier for Cambodia. He noted that Riel banknotes feature numerous national symbols, which intrinsically link the currency to Cambodian identity and heritage. Sereyvornath stated, “By using the Riel, we can signify that a place is Cambodian, perhaps even highlighting it as an interesting Cambodian tourist destination.”
The Riel is deeply symbolic of Cambodia’s national identity and territorial integrity. Its banknotes feature images of former monarchs, the Queen Mother, and the current King, along with iconic temples and significant locations across the Kingdom. In essence, the Riel represents the nation itself. Therefore, all citizens are encouraged to actively promote and utilize the Cambodian Riel more extensively in their daily lives.
