Riel Makes Debut in Tokyo Airport
Foreign currency exchange company Travelex has begun trading riel at Tokyo Haneda Airport after the first launch succeeded at Changi Airport in Singapore. Photo: Ou Sokmean
- By Sem Brakdav
- April 17, 2024 3:30 PM
PHNOM PENH – Foreign currency exchange company Travelex has begun trading riel at Tokyo Haneda Airport after the first launch succeeded at Changi Airport in Singapore. In partnership with the National Bank of Cambodia (NBC), the initiative aims to promote the riel’s use in international markets.
The exchange of the riel at Japan's International Airport makes it easier for Japanese tourists visiting Cambodia to change their yen for riel and especially to encourage more international tourists to visit Cambodia.
The inclusion of the riel on the Tokyo trading charts increases confidence in the use of the riel and enables the NBC to intervene in the exchange market to stabilize the riel. In addition, the greater use of the riel stabilizes the Cambodian economy and mobilizes more reserves.
Hong Vanak, director of international economics at the Royal Academy of Cambodia, said tourists will have the convenience of exchanging the currency before coming to Cambodia.
“Tourists won't have a long way to access the exchange at the banks or anywhere else. They can have riel banknotes as soon as they arrive,” he said.
NBC and Travelex will expand the initiative in other countries.
