Price Tag on All Products and Services in Cambodia Will Change From USD to Riel

Phnom Penh- The Ministry of Commerce has issued an announcement, which obliges business operations such as Supermarket, Mall, Mart, and others to put price tag on products and services in Riel to significantly increase transparency for consumers and boost the use of the local currency.

The government will cooperate well with multiple agencies to regularly inspect business operations to ensure that price tag on products and services are properly displayed in riel. The purpose of this decree is to motivate local people to use local currency in order to avoid the reduction of using Khmer currency and improve the circular flow of the economy.

Due to the differences and uncertainties of currency exchange rate on Cambodian market, the government makes a decision to integrate all currencies into one currency to boost economy.

“It is compulsory for businesses and services in Cambodia need to put a price tag on products in Khmer riel. And if there is someone that doesn’t conform to the announcement, they will face serious fine or punishment that is set by the Ministry”, stated by the announcement.

What do you think about this notable change?

The currency of Cambodia, ” Riel”