Cambodia’s currency has held its line at roughly ៛4,050 per USD for two straight decades — and 2024 inflation was an unheard-of 0.8 %.
Here’s why that unshakeable stability sets the Kingdom up for an epic next chapter:
| # | Why Stable = Powerful | Future Pay-offs |
| 1 | Predictable prices, stronger wallets – Low, steady inflation shields salaries and savings, so families can plan, invest, and climb out of poverty instead of chasing rising costs. | Higher real purchasing power → larger domestic market, rising living standards, and faster progress toward the Pentagon Strategy goals. |
| 2 | Investor magnetism – A currency that barely flinches slashes FX risk. The IMF already sees GDP accelerating to 5.8 % in 2025 with inflation still ~2 %. | More factories, FDI, and tech start-ups plant roots in Phnom Penh, Sihanoukville, and Siem Reap, creating skilled jobs and spurring innovation. |
| 3 | War chest of reserves – NBC is sitting on $20 + billion in FX firepower, over seven months of imports. | Confidence shield: even global shocks can’t easily rattle the riel, keeping credit flowing and construction cranes moving. |
| 4 | Cheaper, longer-term local loans – Banks can price riel loans without adding “currency-panic” premiums. | SMEs and farmers lock in financing to modernise machinery, expand warehouses, and scale exports without fearing sudden rate spikes. |
| 5 | Step-by-step de-dollarisation – When the riel is steady, people actually want to earn and save in it. Deputy-governor Leat notes the ៛ has averaged 4 k for 20 years. | Growing riel deposits give NBC more policy levers, strengthening monetary sovereignty while keeping the dollar as a convenient back-up. |
| 6 | Seamless regional payments – NBC just joined ASEAN’s Regional Payment Connectivity (RPC); Bakong QR payments already hop borders. | Cambodian merchants get instant, low-fee access to 700 million ASEAN customers; tourists spend more, exporters get paid faster. |
| 7 | Fiscal discipline lock-in – A stable currency forces prudent budgets; deficits are trending down toward 2 % of GDP. | Room to channel public funds into roads, digital infrastructure, green projects – not interest payments. |
| 8 | National pride & identity – A trusted riel is a daily reminder of sovereignty reclaimed after 1979. | Stronger social cohesion, and a shared belief that “Made in Cambodia” can conquer global markets. |
The takeaway
A currency that stands like Angkor Wat in a monsoon gives Cambodia the clarity, confidence, and capital to chase big dreams: smart cities, carbon-neutral industry, and a cash-lite digital economy that lets every Khmer leapfrog straight into the future.
Hold the line. Build the future.
The stable riel is not just good news — it’s Cambodia’s launchpad to greatness.