Copyright © 2011 Sihanoukville Gazette. All Rights Reserved.
The local currency in Cambodian is called the Riel but for money in Phnom Penh and Siem Reap, Sihanoukville and most of the larger towns, you can almost always use US dollars. It is quite easy to exchange even small bills of USD for Riel in restaurants, shops, markets, hotels and guesthouses, but be sure the USD bills you use and receive in change are fairly clean and free of tears as old bills are often not accepted. Riel are often handy for paying for small things like motor fares.
Other currencies don't receive as favorable an exchange rate and are usually only exchangeable through banks. Thai Baht is as popular as USD in some towns in the west of Cambodia but in particularly remote areas, you may be more limited to the Riel. Except for upper end hotels and restaurants or if you're purchasing airfare and big ticket items, most places do not accept credit cards.
Travelers checks are accepted at some hotels and can be exchanged at banks. There are no ATMs in Cambodia for withdrawing cash though cash advances can be made on credit cards for a fee.
As of September, 2011, $1 US Dollar = 4,109 Cambodian riel.
US dollars are as commonly used as the Cambodian Riel and even Thai Baht is acceptable in many places. Most hotels and many restaurants and shops set their prices in dollars. Small transactions are usually done in Riel. Always carry some small Riel for motorcycle taxis, snacks, beggars and other small purchases.
Riel notes come in 50, 100, 200, 500, 1000, 5000, 10,000, 50,000 and 100,000 denominations, but the distinctive red 500 Riel note is the most commonly used.
Credit cards and travelers checks are not common but are catching on. US dollar travelers checks are much more easily encashed than any other kind.
Banking
Money changers cluster around the markets. When accepting money, inspect the bills. Marred Riel is acceptable tender, but the tiniest tear in a large US note renders it worthless.
There are banks in all of the larger provincial capitals, including Phnom Penh, Siem Reap, Sihanoukville, Battambang. Banks can change money, effect telegraphic transfers and some banks can cash travelers checks and accept Visa cards.
The first offering ATM in Cambodia is the Canadia Bank, and you must have a local account in order to use it. You cannot access foreign accounts from this.
Now the ANZ Bank is making offering for all International ATM Card carriers more easier at all over the main business locations such as Phnom Penh and Siem Reap.
