PHNOM PENH: Cambodia’s national currency, the Khmer Riel (KHR), was officially listed on Travelex’s foreign exchange board in Melbourne on Sept. 1.
The official ceremony was attended by H.E. Ly Sideth, Deputy Governor and General Cashier of the National Bank of Cambodia (NBC), and Mr. Adam Nezval, Head of Wholesale Banknotes and Cash Operations for Australia and New Zealand at Travelex, according to an NBC statement issued on Monday.
The collaboration between NBC and Travelex to introduce Riel trading in Australia will enable Australian tourists visiting Cambodia, as well as Cambodian tourists visiting Australia, to exchange between Riel and Australian dollars more conveniently. This is expected to help promote tourism and economic exchanges between the two countries.
Moreover, the inclusion of the Riel on the foreign exchange board in Australia demonstrates the currency’s growing international recognition and reflects increased confidence in its stability and acceptance.
This achievement is the result of NBC’s consistent efforts to maintain the Riel’s stability over the past two decades.
Melbourne is the fourth location where the Riel has been listed, following similar launches in Chongqing, Tokyo, and Singapore. NBC affirmed that it will continue working to list the Riel in other major international financial centres worldwide.