Thanks to the Central Bank's intervention, the
Cambodian Riel versus the US Dollar exchange rate remains stable, hovering around Riel 4000 per US Dollar.
While all taxpayers are required to fulfil their obligation in
Cambodian riel to GDT, Sokhom said most taxpayers displayed their tax invoice in US currency as they generally obtain the foreign currency for their customers.
'We believe the forex-indexed bond is a particularly useful product for Cambodia during this transitional period whereby the market will look to achieve two goals - promoting the
Cambodian riel and attracting both riel and USD investors to the local capital market,' he said.
An announcement from the National Bank of Cambodia (NBC) said it would let users bypass the need to use costly exchanges to turn
Cambodian riel into Thai baht, or vice versa.
NBC said the system allows transfers in
Cambodian riels or US dollars.
