Background
The National Assembly hosted a seminar on 19 March 2026 at the National Assembly building under the theme “The Importance of the Riel: Understanding Currency in Cambodia’s Economy.” The event marked the 46th anniversary of the reintroduction of the riel into circulation (1980–2026). It was organized in cooperation with the National Bank of Cambodia and brought together parliamentary, governmental and academic participants to discuss the role of the national currency.
Scope of Application
The seminar focused on the use of the riel in Cambodia’s domestic economy, including rural economic activities, small-scale businesses and digital payment systems such as KHQR and Bakong. It also addressed broader public awareness of the riel’s role in monetary stability and national economic policy, particularly among students and representatives of key economic ministries.
Key Provisions or Decisions
H.E. Cheang Vun, Chair of the National Assembly Commission on Economy, Finance, Banking and Audit, emphasized that the riel is not only a means of payment but also a symbol of national sovereignty, national pride and the independence of Cambodia’s economic policy. He stated that wider use of the riel would enable the National Bank of Cambodia to manage interest rates and money supply more effectively.
He further noted that the riel plays an important role in promoting the rural economy and small businesses, particularly through fast and low-cost digital payment systems such as KHQR and Bakong, which also avoid concerns over exchange rate losses.
H.E. Yem Lat, Deputy Governor of the National Bank of Cambodia, presented data indicating that riel circulation is currently increasing by around 12% per year, while the riel has maintained a stable value for nearly two decades, helping to build public confidence. He stressed that reducing reliance on the US dollar is a strategy to protect Cambodia from economic shocks originating in dollar-using economies.
H.E. Leng Penglong, Secretary-General of the National Assembly, underlined that the seminar coincided with the 46th anniversary of the riel’s reintroduction, and stated that promoting the riel contributes to strengthening national unity and a spirit of patriotism.
The seminar included invited speakers and presentations, and participation by representatives from the Ministry of Economy and Finance, the Ministry of Commerce, and around 400 students from four universities in Phnom Penh, focusing on the role of the riel in commerce and monetary stability.
Implications for Investors, Businesses, or Compliance
The seminar signals continued policy emphasis on strengthening the role of the riel in Cambodia’s economy and reducing dependence on foreign currency, particularly the US dollar. Businesses and financial sector participants can anticipate ongoing encouragement of riel-denominated transactions, especially through digital payment platforms such as KHQR and Bakong, which are highlighted as efficient tools supporting small businesses and rural economic activity. While no new regulatory measures were announced in this event, the discussion indicates sustained support for monetary stability and the gradual deepening of riel usage across the economy.
Official Source
The information is based on an official communication from the National Assembly of Cambodia.
