Sunday, February 3, 2008

Riel money

The Cambodian unit of currency is the riel. 100 riel will buy an A4 photocopy. This is the smallest denomination bill I have yet seen, there are also 500, 1000, 2000, 5000, 10,000. There may be others I haven't encountered yet. 10,000 – 20,000 riel gets you a main course in most restaurants.

This is obviously an impractical currency for large purchases, so the majority of transactions are done in good ole US greenbacks. The riel-dollar rate is fixed at, for all practical purposes, 4,000 riel to the dollar.

The drawback is that riels are effectively used in place of cents, so for a 6.50 transaction, you hand over a $20and get back a $10, 3 $1's and 2,000 Riel. Or, for a 3,000 riel purchase, you hand over a dollar bill and get 1,000 riel in change.

This all works fabulously if your change required is 25c, 50c, or 75c, but if you need 80c change you'll get either 3,000 or 3,500 riel. I have seen 100 riel notes.

I am still in the process of mastering the quick change mental arithmetic to work out if my change is correct, also the occasional heart attack moment where you ask the price and get a number but not a currency.

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