A steady rise in the value of Cambodia’s riel since the beginning of the year demonstrated increased confidence in the currency often shadowed by predominant usage of the US dollar, officials said yesterday. The riel has strengthened 1 per cent against the dollar since early January, according to a commodity price report from the Ministry of Commerce.
The currency traded at 4,013 riel per dollar yesterday, up from 4,057 riel at the beginning of the year, the report showed. “The consequent rising value of riel proves there is more confidence in local currency, and it can help to strengthen the usage of the riel,” said Ngoun Sokha, director general and spokeswoman of the National Bank of Cambodia
Riel sees stable gains on dollar this year
CLMV’s economic growth crashes to two-decade low due to COVID-19
The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year
Cambodia’s aid and investment affair with China
China is Cambodia’s biggest aid provider and Chinese investors hold almost a quarter of Cambodia’s total FDI stock. Distinguishing Chinese aid from investment is difficult, but there is no doubting China’s huge economic impact in Cambodia.
Thailand pushes CLMVT as the “New Value Chain Hub of Asia”
The Ministry of Commerce, in cooperation with 11 relevant agencies, hosted the CLMVT Forum 2019 with delegates from Cambodia, Laos, Myanmar, Vietnam, and Thailand
BANGKOK, 24 June 2019 (NNT) – Thailand’s Prime Minister, Gen. Prayut Chan-o-cha, today attended the opening of the CLMVT Forum 2019, and urged its member countries to push for the development of the CLMVT Regional Value Chain, so that they can have more bargaining power and improve the well-being of their citizens.(more…)
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