Cambodia’s Serey calls for greater use of local currency
Governor says demand for the riel has improved over the years
Cambodia’s central bank governor Chea Serey called for concerted efforts to promote the use of the Khmer riel, saying the country’s heavy use of the US dollar has made monetary policy less effective.
“Promoting riel usage is a collective effort. It requires active and consistent support from all ministries, the private sector and the populace,” Serey said at a seminar on November 10, according to the Phnom Penh Post.
Dollarisation had spurred economic recovery and growth and stabilised the
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