Preparing for a Cambodia tour, you will want to know a little about how to exchange currency in Cambodia and where to find this practice. Let’s read below for more information, which can partially help smooth your journey.
How to exchange currency in Cambodia
Cambodian Currency
Denominations
First of all, you need to know the official currency in Cambodia is Cambodian riel (KHR). Especially, there is no coinage in the money system in Cambodia, but only paper notes. As for denominations of Cambodian currency, riel paper notes consist of 50; 500; 5,000; 50,000; 100; 1,000; 10,000; 100,000.
Besides, using the US dollar regarded as the official second currency here has more and more common (a 90% level of dollarization), so most travelers do not get anxious about converting their money into Cambodian riel too much when travelling to this country.
Exchange Rate
Perhaps, exchange rates for getting US dollars from your money are no problem to you as this is a common currency in the world. How about the rate for converting to Cambodian riels? As a rule of thumb, 1USD = 4,000 Riels, and in some cases, 1USD = 4,200 Riels.
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Where to Exchange Money
At Your Home
As the US dollar is also one of the two official second currencies in Cambodia, it is better to convert your money into US dollars in your own country for a Cambodia tour. This practice is quite easy at most banks in the world.
Ever wonder why we should get some Cambodian riels before arriving in Cambodia while US dollars are accepted here? Actually, for small bills or tips when using some services, you are advised to have your money exchanged into the riels to avoid rip-offs.
In Cambodia
The airport
One of the places to exchange currency in Cambodia is at the airport. Inside the arrival hall, currency exchange booths are easily found, and you can have deals in most main currencies. Of course, there will be a certain fee for the transaction.
The local banks
ACLEDA Bank, ANZ, and Canadian Bank are recommendations to you when you need to change your money since their services are not only friendly, but also fast. Obviously, just like many other banks in different countries all over the world, to utilize the currency exchange service requires you to show their passport and fill out the form bank staff gives you. The easy-to-realize advantage you get from going to the local bank for currency exchange is in an exchange rate that is better than that of other places.
Money changers around the markets
For a Cambodia tour, it is supposed that how to exchange currency in Cambodia is not a big deal, but tourists would rather know about the best place for this practice. Money changers around the markets are the most convenient spots where you can deal in some currencies like Aussie dollars, Thai baht, Brit pounds, Japanese yen, and Euros. There will be a specific fee for this exchanging, but it is not too high.
To be honest, it is not common to exchange money at banks in Cambodia because tourists find it easy and convenient to do that at the money changer in the markets while exchange rates there are not too far from those at the banks.
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