The National Bank of Cambodia (NBC) and the country's Ministry of Commerce have recently announced a major step to promote the use of the local currency by encouraging businesses to register new bank accounts in riel.

The National Bank of Cambodia (NBC) will soon sign agreements with the Bank of Lao (BOL), the State Bank of Vietnam (SBV) and other countries in the region to boost the usage of the local currency in the economy through technological advancement that makes it easier for the people, NBC’s Deputy Governor Chea Serey has said.

The Cambodia Rice Federation (CRF) and the National Bank of Cambodia (NBC) discussed ways to use the riel and the Chinese yuan in rice exports between China and Cambodia, Khmer Times newspaper reported on June 18.