CAMBODIA and its Currency

Cambodia is a country in Southeast Asia that has a rich and diverse history and culture. It is the successor of the ancient Khmer Empire, which ruled over much of the region from the 9th to the 15th century. The Khmer Empire is famous for its magnificent temples, such as Angkor Wat and Bayon, which are now UNESCO World Heritage Sites.Cambodia's location on the Mekong River and the Gulf of Thailand made it an important trade hub and a crossroads of civilizations. It was influenced by India, China, Thailand, Vietnam, France, and the United States, among others. Cambodia has also endured periods of war, colonization, genocide, and civil strife, which have shaped its modern society and politics.Today, Cambodia is a constitutional monarchy with a multiparty democracy. The king is the head of state, while the prime minister is the head of government. The country has a population of about 16.5 million people, most of whom are ethnic Khmers who practice Theravada Buddhism. Cambodia's official language is Khmer, which uses a unique script derived from Indian alphabets.Cambodia's currency is the riel, which is divided into 100 sen. The riel was first introduced in 1953, when Cambodia gained independence from France. It replaced the Cambodian franc, which was used during the French protectorate. The riel was briefly abolished by the communist Khmer Rouge regime from 1975 to 1979, when money was banned and a barter system was enforced. The riel was reintroduced in 1980 by the Vietnamese-backed government that ousted the Khmer Rouge.The riel is issued by the National Bank of Cambodia, which also regulates the banking and financial sector. The riel comes in banknotes of 50, 100, 200, 500, 1,000, 2,000, 5,000, 10,000, 15,000 (commemorative), 20,000, 30,000 (commemorative), 50,000, and 100,000 (commemorative) riels. The riel also comes in coins of 50, 100, 200, and 500 riels, but they are rarely used.The riel is not widely convertible outside Cambodia and has a low value compared to other currencies. As of October 2020, one US dollar is worth about 4,050 riels. However, the US dollar is widely accepted and used in Cambodia alongside the riel. Many prices are quoted in dollars, especially for large transactions or in tourist areas. The exchange rate between the dollar and the riel is relatively stable and fixed by the market.Cambodia's old currency was the tical (or tical), which was used before the French colonization. The tical was a silver coin that weighed about 15 grams and had a value of four Spanish dollars. The tical was also used as a unit of weight for gold and silver. The tical was subdivided into smaller units called fuang (1/8 tical), salung (1/4 tical), and baht (1/2 tical). The tical was replaced by the Cambodian franc in 1875.