Navigating Cambodia's dual currency practices

[macaroni21]

I was last in Cambodia more than 10 years ago, and I recall that both USD and the Cambodian riel were in circulation. It's been too long and I can't remember how the "system" worked or how I survived it, so I'm asking for updates or advice here, from those (and I think there quite a few) who've made one or more recent trips to the country.

Firstly, is it still a dual currency system?

Secondly, how does one know which currency to use? I guess the seller will say so, but if something is quoted in USD, can one say "No, I pay in riel"? Would that be a more advantageous rate?

Thirdly, if one pays for something with a biggish USD note, does one get change in smaller USD or does change come in the form of little little riels at some arbitrary exchange rate? I don't expect to enter the country with a fistful of one-dollar or five-dollar notes, but I suppose I will need those smaller denominations for daily expenses. So what then happens? Do I get change in smaller USD denominations or do I end up with a satchel of riels by the end of the trip?

Thanks in advance for any help.

[spoon]

I just went there last year and in most places, they are still accepting both currency. Given than riel can only be used in cambodia, probably best to use all the riel whenever u have them. 1usd equals 4k riel is the rate and its fixed so i guess there is no advantages in using either except that riel can only be used there. I didnt use money changer there, since i brought enough usd. If u gave big denomination of usd, most likely, you will receive returns in usd + riel, unless its an  even usd in returns, then usually you will get usd. I noticed most of the time, the smaller return usd i got are old and crumpled. While for bigger denomination, somehow they insist it to be crisp or they wont accept. My friend had trouble to use his old and crumpled usd20 that he got from a restaurant there.

Most menu price in restaurant are in usd, so does massage places and drinks. Tips asked by guy at gay massage blue hatha also are in usd.

[macaroni21]

Thanks. Looks like I need to equip myself with small USD before I arrive, but how to get them when I'm nowhere near the US of A?... hmmm, that's going to take some ingenuity.

I'm been surfing the last hour and am reading that even the ATMs in Cambodia issue USD. That wasn't the case ten years ago -- or maybe there were no ATMS then (can't remember).

[anddy]

1 hour ago, macaroni21 said:

Thanks. Looks like I need to equip myself with small USD before I arrive, but how to get them when I'm nowhere near the US of A?... hmmm, that's going to take some ingenuity.

I'm been surfing the last hour and am reading that even the ATMs in Cambodia issue USD. That wasn't the case ten years ago -- or maybe there were no ATMS then (can't remember).

get crisp USD at Superrich, they have a special service for that, knowing that in some countries you need those. They a slightly more expensive than regular USD notes, which is understandable and if I remember correctly the difference is negligible.

I was in Cambodia only this last March and already completely forgot what the currency situation was LOL. 

[colmx]

As Spoon points out above - watch out when changing 100USD notes

e.g. if you are paying for $12 meal with $100 note they will often issue you with:

2x $20s, 2x $10s, 2 x 20000 Riels, 7 x 10000 riels, 1 x 5000 riels 15 x 1000 riels etc

Of course its very difficult to tot up on the fly whether you are being short changed or not and work out tips etc.

In addition, one of the larger USD notes stuck amongst your wad may be damaged or old and not accepted in any shop when you try and spend it later

The other thing is to make sure you have small money for the tuktuks, they always claim to have no change, so your $2-3 ride ends up costing $5. The tuktuks will also take riel as long as they are 1000, 5000 or 10000 riel notes.

PassApp is the local equivalent of Grab/MyTaxi/Uber, so be sure to download that on arrival to get "fair" fare on Taxis and Tuktuks

 

[vinapu]

9 hours ago, macaroni21 said:

 Looks like I need to equip myself with small USD before I arrive, but how to get them when I'm nowhere near the US of A?... 

I'm been surfing the last hour and am reading that even the ATMs in Cambodia issue USD. That wasn't the case ten years ago -- or maybe there were no ATMS then (can't remember).

Yes, that's the best idea to get a lot of small denomination , ask your bank whenever you are, it may be easier than you think although it may take few days for the to fill an order.

having them you will avoid situation colmx  is describing when you will be confused by  change you receive in mix of both currencies and some USD notes received may be damaged i.e. hard to spend in Cambodia.

Last time I was there in Dec 2016  i armed myself with 50*1, 20*5, 10*10, 10*20 , 2*50 and 5*100 notes and it worked well, not all was spent but most of small denominations were 

Yes,   ATM will spit out USD

Yes , when price will be quoted in USD in most cases they will accept riels  so you can pay for  that 20 $ shirt with  100 000 riels note and receive 3 $ and 8000 riels in change. 

They will not accept riels in airport   if you will be buying visa on arrival and on deperture behind  controls, better hotels may also require paymnet in USD but otherwise is is full blend of currencies, just USD are more portable.

When you will see 15000 riel note is not a fake - it's recently issued commemorative note for kings 15th anniversary of coronation.

 

[spoon]

Owh, forget to mention, i did exchanged smaller denomination at my hotel receptions. U can also try to ask at money changer there to change for smaller denomination. 

[macaroni21]

Thanks, everyone, for sharing and your advice, especially Anddy's tip about getting fresh notes at Superrich. I knew this would be a good community to reach out to for information.

BTW, I need to apologise for putting this into the Gay Thailand forum; I've only just (like 2 minutes ago) noticed that there is a Gay Cambodia forum! Doesn't seem to be as active, though.

 

[Guest]

I generally view it as the Riel are there in place of cents.    

So USD for anything from USD 1 and above.  Riel for anything below $1, or if I am paying fractions of a dollar.     When the quantity of Riel start to build up to several dollars worth, I will start to pay for some purchases of several dollars worth to keep the quantity of Riel down.

I don't recall ever changing USD into Riel and I've been to Cambodia 5 times so far.     I just collect the Riel as change from other transactions.

As stated above, the ATMs dish out USD.   However, these charge something like about $4 if I remember correctly.  

The USD for my last trip were mostly obtained in London, pre-booked at International Currency Exchange to get a good rate.    It's good know that Superrich stock crisp notes, just in case I need some.  I made one ATM "top up" withdrawal on the last trip.  The spare USD from one trip are kept at home until the next trip.

I start off with $50 notes, plus a couple of $20s and at least $10 in USD$1 notes, so I am able to pay tuk tuk drivers.   

Note, if you go into a shop and purchase say $2 worth of goods with a $20 or $50 note, they will often ask if you have anything smaller.    Even if it's a large supermarket.    Be prepared for this and say no, as you have to break the notes somewhere

 

I also recommend using the Pass App for Tuk Tuks.       Pass app means your driver knows EXACTLY where you need to go and you pay the same price as the Khmers, not the farang price.   As an example, Pass App quoted me about $1.20 for a short trip.   The kerbside tuk tuk driver quoted $3 for the same trip.  [He did rapidly agree to match the Pass App price, but I went with Pass App, as he started off at an insulting price].   

Myanmar is also very fussy about the condition of larger USD bills.  

[traveller123]

Just a further post on the need to make sure you have crisp notes as I have been caught out twice.

A few years ago I bought US$ from my local Bangkok bank branch for a trip to Siem Reap, one of the 100$ bills had a small biro number written on the bill and nowhere in Siem Reap would accept it (on my return to Thailand my bank took it back)

The second time was this year when I brought back GBP from UK ATMs and tried to change into baht at Superrich. Again three of the notes had numbers written on in small writing and were not accepted either at BKK or later at Bangkok bank in my home town (fortunately friends visited from the UK, changed the notes into baht and spent them on their return to the UK)

 

[Guest]

 

1  Both Cambodia AND Myanmar require large denomination USD bills to be immaculate.     Obviously their central bank cannot take in all the tatty old USD notes and replace them with brand new ones. 

2  If you have slightly imperfect $50 notes, try to spend them when paying for your hotel and keep your better $50 notes hidden away, so you can say you don't have any better ones.   The emphasis is on slightly in the last sentence.    Don't bother with anything torn or with writing on it.

3  I have no problem obtaining new $50 notes in London (e.g. ICE, pre-booked) , or almost perfect $50 notes in my local town (e.g. Debenhams, pre-booked).  

4 Having obtained new $50 notes, I transport them in a plastic envelope, with a semi-rigid piece of plastic inside to prevent damage.    They remain in this from the time of receipt to the time I spend them.

5 I check both sides of all my notes before travelling.      The £50 GBP notes I take to Thailand are free from writing and tears, but may be worn.   I've had some with writing rejected, but nothing else.   So a lower quality standard than USD for Cambodia etc.

6  In all cases if marginal notes are rejected, try somewhere else.

7  For Laos, I had no problems at all exchanging Thai baht at a very good exchange rate (ie low spread).   However, it's advisable to take just enough USD to pay for your visa on arrival.   On my most recent trip, the customs official asked me for 2500 baht.     Which was about $76 at the time.    I asked to pay in USD and was quoted $35.       Essentially, the visa on arrival fee is set in USD and the crooked customs officials try to make a quick buck on foreign exchange.  Having got past that hurdle,  they processed my visa within a few minutes, without any other attempts to charge for extras.