Cambodian riel

The riel (/ril, riˈɛl/; Khmer: រៀល; sign: ៛; code: KHR) is the currency of Cambodia. There have been two distinct riel, the first issued between 1953 and May 1975. Between 1975 and 1980 the country had no monetary system. A second currency, also named "riel", has been issued since March 20, 1980.

Cambodian riel
(in Khmer)
ISO 4217
Code	KHR
Denominations
Subunit
1/10	kak
1/100	sen (both of them are no longer used)
Symbol	៛ Unicode: U+17DB ៛ KHMER CURRENCY SYMBOL RIEL (HTML ៛)
Banknotes
Freq. used	100, 500, 1,000, 2,000, 5,000, 10,000, 20,000, 50,000 riels
Rarely used	15,000 (commemorative), 100,000 riels
Coins
Rarely used	50, 100, 200, 500 riels (no longer minted but still legal tender)
Demographics
User(s)	Cambodia
Issuance
Central bank	National Bank of Cambodia
Website	www.nbc.org.kh
Valuation
Inflation	1.4%
Source	The World Factbook, 2015 est.

Popular belief suggests that the name of the currency comes from the Mekong river fish, the riel ("small fish" in Khmer). It is more likely that the name derives from the high silver content Mexican real used by Malay, Indian and Chinese merchants in mid-19th-century Cambodia.[1]

First riel, 1953–1975

In 1953, the Cambodia branch of the Institut d'Émission des États du Cambodge, du Laos et du Vietnam issued notes dual denominated in piastre and riel with the riel being at par with the piastre.[2] At the same time, the two other branches of the Institut had similar arrangements with the đồng in South Vietnam and the kip in Laos. The piastre itself was derived from Spanish pieces of eight (pesos).

The riel was at first subdivided into 100 centimes (abbreviated to cent. on the coins) but this changed in 1959 to 100 sen (សេន). For the first few years, the riel and piastre circulated alongside each other. The first riel banknotes were also denominated in piastres.

• First issue, 1955–56: 1 riel, 5 riels, 10 riels, 50 riels.
• Second issue, 1956: 1 riel, 20 riels, 50 riels, 100 riels, 500 riels.
• Third issue, 1963: 5 riels, 10 riels, 100 riels.
• Fourth issue, 1972: 100 riels*, 500 riels, 1,000 riels*, 5,000 riels*.[3] (* Unissued.)

• 
  1 riel
• 
  1 riel
• 
  10 riels
• 
  10 riels
• 
  500 riels
• 
  500 riels

Coins

The 10, 20 and 50 centimes of 1953 and sen coins were minted in aluminium and were the same size as the corresponding att and xu (su) coins of Laos and South Vietnam (though without the holes in the Lao coins). A 1 riel coin about the size of a U.S. nickel was to be issued in 1970, as part of the United Nations' Food and Agriculture Organization's coin program, but was not released, perhaps due to the overthrow of the government of Norodom Sihanouk by Lon Nol.[4]

The Khmer Rouge, 1975–1980, 1993–1999

Although the Khmer Rouge printed banknotes, these notes were not issued as money was abolished after the Khmer Rouge took control of the country.

• Fifth issue, 1975: 0.1 riel (1 kak), 0.5 riel (5 kak), 1 riel, 5 riels, 10 riels, 50 riels, 100 riels.[3]

In 1993 they printed a series of coloured banknotes for limited use on territories controlled by them.

• 
  10 riels

Second riel, 1980–present

After the Vietnamese invasion in 1978, the riel was re-established as Cambodia's national currency on April 1, 1980, initially at a value of 4 riels = 1 U.S. dollar. It is subdivided into 10 kak (កាក់) or 100 sen. Because there was no money for it to replace and a severely disrupted economy, the central government gave away the new money to the populace in order to encourage its use.

• Sixth issue, 1979: 0.1 riel (1 kak), 0.2 riel (2 kak), 0.5 riel (5 kak), 1 riel, 5 riels, 10 riels, 20 riels, 50 riels.
• Seventh issue, 1987: 5 riels, 10 riels.
• Eighth issue, 1990-92: 50 riels, 100 riels, 500 riels.
• Ninth issue, 1992-93: 200 riels, 1,000 riels*, 2,000 riels*. (* Unissued.)
• Tenth issue, 1995: 1,000 riels, 2,000 riels, 5,000 riels, 10,000 riels, 20,000 riels, 50,000 riels, 100,000 riels.
• Eleventh issue, 1995-99: 100 riels, 200 riels, 500 riels, 1,000 riels.
• Twelfth issue, 2001-07: 50 riels, 100 riels, 500 riels, 1,000 riels, 2,000 riels, 5,000 riels, 10,000 riels, 50,000 riels.
• Thirteenth issue; 2008-13: 100 riels, 500 riels, 1,000 riels, 2,000 riels, 10,000 riels, 20,000 riels, 50,000 riels, 100,000 riels.
• Fourteenth issue; 2016: 1,000 riels, 5,000 riels.
• Fifteenth issue; 2018: 20,000 riels.

Banknotes

• 100 riels (2001-08-09 and 2015-01-14)
• 500 riels (2002-04-04 and 2014-01-14)
• 1,000 riels (2006-01-06 and 2017-10-25)
• 2,000 riels (2008-01-03 and 2013-11-09)
• 5,000 riels (2001-04-06 and 2017-10-25)
• 10,000 riels (2001-04-06 and 2015-05-07)
• 20,000 riels (2008-05-12 and 2018)
• 50,000 riels (2001-04-06 and 2014-05-06)
• 100,000 riels (2013-05-14)[3]

Image		Value	Dimensions	Main Colour	Description		Date of
Obverse	Reverse				Obverse	Reverse	printing	issue	withdrawal	lapse
		50 riels	130 × 60 mm	Dark brown and tan	Banteay Srei	Dam	2002	August 29, 2002		current
		100 riels	130 × 60 mm	Purple, brown and green	Independence Monument (Phnom Penh)	School	2001	August 9, 2001		current
		100 riels	138 × 64 mm	Orange and brown	Naga (mythical snake) head, Buddha, King Father Norodom Sihanouk as a young monk	Khmer statue, Wat Preah Keo (Silver pagoda), Buddha	2014	January 14, 2015		current
		500 riels	138 × 64 mm	Red and purple	Angkor Wat	Kizuna bridge over the Mekong	2002 2004 2014	April 4, 2003		current
		500 riels		Pink and gray	Naga (mythical snake) head, arms, king Norodom Sihamoni	Neak Loeung Bridge, Kizuna bridge over the Mekong River, monument, frieze	2014	January 14, 2014		current
		1,000 riels	138 × 64 mm	Brown and lilac	Southern gate at Bayon	Autonomous Port of Kampong Saom (Sihanoukville)	2005 2007 2014	January 6, 2006		current
		1,000 riels	146 × 68 mm	Purple and blue	Naga (mythical snake) head, arms, King Norodom Sihanouk	Royal palace throne room, "Kinnari" (half-human, half-bird)	2016	October 25, 2017		current
		2,000 riels	146 × 68 mm	Green, black and yellow	Prasat Preah Vihear	Angkor Wat and Rice Field Worker	2007 2015	January 3, 2008		current
		5,000 riels	146 × 68 mm	Green and gray	King Norodom Sihanouk	Bridge of Kampong Kdei (Siem Reap Province)	2001 2002 2004 2007	April 6, 2001		current
		5,000 riels	146 × 68 mm	Violet and brown	Naga (mythical snake) head, vessel, King Norodom Sihanouk wearing beret	Naga (mythical snake) head, Kampong Kdei bridge (Siemreap Province), freezes, chariot	2015	October 25, 2017		current
		10,000 riels	146 × 68 mm	Violet, brown and blue	Norodom Sihanouk	Sisowath Quay	2001 2005 2006	April 6, 2001		current
		10,000 riels	146 × 68 mm	Blue	Naga, mythical snake; King Norodom Sihamoni	Neak Pean (entwined serpents) archeological ruins of Buddhist temple on circular island in Preah Khan Baray, Angkor; stone statue of horse, Balaha	2015	May 15, 2015		current
		15,000 riels		Purple	Norodom Sihamoni, seven-headed naga	Coronation of Norodom Sihamoni, Win-Win Memorial, three-headed elephant carrying a garuda bearing a swan	2019	October 7, 2019[5]		current
		20,000 riels	155 × 72 mm		Norodom Sihamoni	Angkor Wat, Four faces of the Bodhisattva Avalokitesvara	2008	December 5, 2008		current
		50,000 riels	150 × 70 mm	Violet, brown and blue	Norodom Sihanouk	Angkor Wat	2001	April 6, 2001		current
		50,000 riels	155 × 72 mm	Brown	Naga (mythical snake), King Norodom Sihanouk	Korker ruins, sculpture of a baby elephant	2013	May 6, 2014		current
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Image		Value	Dimensions	Main Colour	Description		Date of
Obverse	Reverse				Obverse	Reverse	printing	issue	withdrawal	lapse
		1,000 riels	148 × 68 mm	Lilac and dark-blue	Naga (mythical snake) head, Royal Arms of Cambodia, King Norodom Sihanouk	Royal Palace throne room, swan-shaped float carrying Sihanouk's body	2012	January 30, 2013
		2,000 riels	155 × 72 mm		Naga (mythical snake) head, Royal Arms of Cambodia, King Norodom Sihanouk	King Norodom Sihanouk alongside two soldiers crossing a river (December 1953); Independence Monument (Phnom Penh)	2013	November 8, 2013
		20,000 riels	155 x 72 mm	Light and dark pink and gray	Naga (mythical snake), king Norodom Sihamoni	Banteay Srei Temple in Siem Reap province	2017			current
		100,000 riels	170 × 77 mm	Green	Royal Arms of Cambodia, King Father Norodom Sihanouk, Queen Mother Norodom Monineath, Naga (mythical snake) head	King Father Norodom Sihanouk, Queen Mother Norodom Monineath and King Norodom Sihamoni, stone sculpture	2012	May 14, 2013
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Coins

The first coins were 5 sen pieces, minted in 1979 and made of aluminum. No more coins were minted until 1994, when denominations of 50, 100, 200 and 500 riels were introduced. However, these are rarely found in circulation.[6]

Coins of the Cambodian riel
Image		Value	Diameter	Mass	Composition	Edge	Obverse	Reverse	Year of
Obverse	Reverse								first minting	withdrawal
		50 riels	15.9 mm	1.6 g	Steel	Plain/Smooth	Independence Monument in Phnom Penh	Denomination, year of minting in Buddhist and Gregorian calendar	1994
		100 riels	17.9 mm	2 g	Steel	Plain/Smooth	Angkor Wat	Denomination, year of minting in Buddhist and Gregorian calendar	1994
		200 riels	20 mm	2.4 g	Steel	Plain/Smooth	2 Ceremonial bowls (one above the other) Above this is symbol Om (in Khmer language) from which rays of light emitting	Denomination, year of minting in Buddhist and Gregorian calendar	1994
		500 riels	25.8 mm	6.5 g	Bi-Metallic; steel in center, brass in ring	Segmented (Plain and Reeded edges)	Royal arms of Cambodia (Lesser version)	Denomination, year of minting in Buddhist and Gregorian calendar	1994

Current KHR exchange rates
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Concurrent use with foreign currencies

In rural areas the riel is used for virtually all purchases, large and small. However, the United States dollar is also used, particularly in urban Cambodia and tourist areas. In Battambang and other areas near the Thai border, like Pailin, the Thai baht is also accepted.

Dollarization started in the 1980s and continued to the early 90s when the United Nations contributed humanitarian aid, refugees began sending remittances home, and inflation as high as 177% per year eroded confidence in the riel. From 1991-1993, the United Nations Transitional Authority in Cambodia stationed 22,000 personnel throughout Cambodia, whose spending represented a large part of the Cambodian economy.[7]

See also

• Cambodian tical
• Cambodian franc
• Economy of Cambodia

References

1. Filippi, Jean-Michel. "The strange adventure of the Cambodian currency". Phenom Penh Post. Retrieved 16 March 2012.
2. "A Brief History of Cambodian Currency". Archived from the original on 2010-03-29. Retrieved 2010-04-09.
3. Cambodian Currency Collection Cambodian Currency Collection Archived 2009-07-20 at the Wayback Machine
4. "Cambodian FAO 1 riel coin on catalog". Retrieved 2013-06-22.
5. "New note to mark King's coronation". The Phnom Penh Post. October 8, 2019.
6. De Launey, Guy (30 March 2011). "Cambodia's riel survives alongside the dollar". BBC News. BBC. Retrieved 18 March 2013.
7. de Zamaroczy, Mario (2003). "Economic Policy in a Highly Dollarized Economy". IMF (219): 3.

• Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
• Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.

External links

• Cambodian Currency Collection - Depicts every banknote issued in Cambodia
• Historical banknotes of Cambodia (in English and German)

First riel

Preceded by: French Indochinese piastre Location: French Indochina Reason: independence Ratio: at par Note: piastre not used in self-declared North Vietnam since 1946	Currency of Cambodia 1953 – 1970 Note: transitional notes dual denominated in piastre and riel were used until 1955	Currency of Khmer Republic 1970 – 1975	Succeeded by: none Location: Kampuchea Reason: The Khmer Rouge attempted to implement the Marxist vision of a money-less society Note: The Khmer Rouge did print a series of riel. Some sources say they were never issued. Some say they were issued one month before they were abolished.

Second riel

Preceded by: Vietnamese đồng Reason: reintroduction of a national currency Ratio: 1 riel = 3 đồng = 0.25 U.S. dollar = 1 kg rice	Currency of Cambodia 1980 –	Succeeded by: Current