The official currency in Cambodia is called the Cambodian Riel (KHR). Banknotes are issued in denominations of 50, 100, 500, 1000, 2000, 5000, 10,000, 20,000, 50,000, and 100,000 riels. The 100,000 bill is rarely used. Coins are available in 50, 100, 200, and 500 riels.
Like in other major cities of Cambodia, the US Dollar is widely accepted in Phnom Penh. Most of the stores display prices both in riels and US dollars. You can pay for your purchases in either currency or a mix of both. One dollar is equivalent to around 4,000 riels. If you pay in dollars, expect to get change in riels since stores do no not give out US coins.
Forex shops are the best places to exchange money in Phnom Penh, considering the exchange rates, though there are not many money changers available in the city. You can find several of them clustered near tourist attractions. Ly Hour Exchange – which often offers the best rates in the market – is the leading currency exchange company with numerous branches in operation. Other reputable forex shops can be found along the city’s main roads like Charles de Gaulle Boulevard.
You can also exchange your currency to riels or US dollars at banks’ branches that are well located in commercial and tourist areas.
If you use the ATM to withdraw cash, be aware that ATM service fees applying to foreign cards are around USD4-5 per transaction.
Check out the list below for the recommended money changers and bank branches for currency exchange in Phnom Penh.
Ly Hour Exchange started as a small family-run trading company. The business later grew into a gold and currency exchange company with 11 branches in Phnom Penh. These branches are conveniently located along main roads in Phnom Penh’s commercial areas.
RECOMMENDED BRANCHES
1) Ly Hour Exchange Head Office
2) Ly Hour Exchange @ Tep Phan
3) Ly Hour Exchange @ Kork
4) Ly Hour Exchange @ Bak Touk
5) Ly Hour Exchange @ Steung
* Business hours may vary. Call first before visiting.
Besides Ly Hour Exchange, there are a couple of other reputable money changers that have competitive rates and good customer service. These shops are strategically located near popular markets, shopping malls, and hotels.
Check out Hui One Currency Exchange if you are shopping at the Central Market, or Lay Ty Exchange if you are in the vicinity of Orussey Market.
RECOMMENDED MONEY CHANGERS
1) Lay Ty Exchange Money
2) Chea Lay Currency Exchange
3) Hui One Currency Exchange
4) True Money
5) Sophally Exchange
*Business hours may vary. Call first before visiting.
Banks are another option to exchange money in Phnom Penh, however their rates are always lower than the rates from forex shops.
If you are staying in Phnom Penh for more than a month or two, it is advisable to open a bank account with a local bank branch to save up on bank fees.
You can find bank branches along major thoroughfares and near tourist places around the city. Most of the bank head offices are located along Preah Ang Duong and Preah Monivong, within walking distance from the Central Market and Democracy Park.
RECOMMENDED BANK BRANCHES
1) ANZ Royal @ Sisowath Quay
2) ACLEDA Bank near Olympic Stadium
3) Canadia Bank head office @ Canadia Bank Tower, Preah Monivong
4) Cambodian Public Bank near Central Market
5) BIDC @ Preah Monivong