PHNOM PENH: Travelex, a market leading foreign exchange brand, in cooperation with the National Bank of Cambodia (NBC), listed Khmer Riel (KHR) for trading at Tokyo Haneda Airport on April 16.
The move is a result of an effort of the NBC to promote the use of the Cambodian currency. It is also a sign of the growing international recognition of the Cambodian Riel.
The ribbon cutting ceremony was presided over by H.E. Kimty Kormoly, Director General of the NBC’s Central Banking Operation.
According to NBC, the listing of KHR in Tokyo for the first time, made available the currency to Japanese tourists visiting Cambodia, further facilitating more tourism flow to the country.
More importantly, it underlined, the listing of KHR in an international financial centre such as Tokyo shows international convertibility of KHR reflecting the growing confidence and acceptance of KHR internationally as a result of more than two decades of exchange rate stability.
This is the second country Travelex has listed KHR for trading after doing so in Singapore Changi airport in 2023, with plan to list KHR in other countries going forward.
This is a significant development for the Cambodian economy, and it is likely to boost the country’s tourism and investment sectors.