Monday, 14 June 2010By Nguon Sovan
The Phnom Penh Post
NBC to off-load additional US$7 million to stabilise struggling local currency
AN additional US$7 million will be put up for sale by the National Bank of Cambodia (NBC) this month in the organisation’s latest attempt to stablilse the value of the riel, it was announced Friday.
Banks, private companies and money lenders will be able to use riel to buy seven separate lots of $1 million from NBC.
Bidding on the first sale begins today with the last sell-off scheduled for June 30, according to an announcement signed by the bank’s Secretary General Sum Saniseth and released Friday.
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Bidding on the first sale begins today with the last sell-off scheduled for June 30, according to an announcement signed by the bank’s Secretary General Sum Saniseth and released Friday.
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