UNDP Urges Greater Use of Khmer Riel in Support of De-Dollarization Efforts

Phnom Penh, March 20, 2026 — The United Nations Development Programme (UNDP) has called for increased use of the Khmer riel (KHR) as part of ongoing efforts to support Cambodia’s de-dollarization agenda.

In a letter to the Governor of the National Bank of Cambodia, UNDP Resident Representative Enrico Gaveglia extended warmest congratulations to the National Bank of Cambodia on the 46th anniversary of the re-introduction of the riel, while reaffirming the organization’s commitment to advancing the country’s financial objectives, following discussions held in September 2025 on strengthening monetary policy and improving public welfare.

UNDP stated that it will progressively expand the use of the Khmer riel across its operations, including partner transfers where feasible, petty cash expenses, small-value purchases, micro-procurement of goods and services, staff subsistence allowances, and payments for utilities and services denominated in riel.

The agency noted that transactions with national counterparts are expected to reach approximately US$5 million per year, and emphasized the importance of continued cooperation with government ministries and implementing partners to facilitate the transition toward greater use of the national currency.

UNDP reiterated its support for the National Bank of Cambodia’s de-dollarization efforts and pledged to continue contributing to strengthening the role of the Khmer riel within the country’s financial system.

Source:NBC, 20 March 2026

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Reported by The Khmer Today