Tuesday, June 1, 2010

Cambodia's central bank to take measure to stabilize riel

June 01, 2010
Source:Xinhua

The National Bank of Cambodia ( NBC) has been putting another 3 million U.S. dollars to buy in riel currency in a bid to stabilize riel currency which is depreciated in recent weeks.
According to a Monday's announcement, seen Tuesday, from the NBC signed by the NBC's Director General Tal Nay Im, NBC has been putting each of 1 million U.S. dollars for bidding on Monday, Wednesday and Friday this week. Bidders can be commercial banks, licensed money changers and companies, it stated.
"On Monday's bidding for 1 million U.S. dollars, there were nine money changers joined. As a result, Vong Rithy Exchange shop near Phnom Penh's Olympic Market won the bidding at 4,232 riel a U.S. dollar," a central bank official who asked not to be named said Tuesday.
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