Cambodia aims to reduce dollarization| glObserver Global Economics


Cambodia has designed strategies to give riel (local currency) a boost so as to reduce dollarization, which represents about 80 % of the currencies circulated in the country, the Central Bank’s senior officials said Tuesday.

Sourced through Scoop.it from: globserver.cn

Dollarization in Cambodia measured by the ratio of foreign currency deposit to broad money augmented from 36 % in 1993 to 70 % in 2003 and continued to increase to around 80 % in 2013, Neav Chanthana, deputy governor of the National Bank of Cambodia (NBC), or Central Bank, said at the Second Annual NBC Macroeconomic Conference.

See on Scoop.itglObserver Asia

Author: globserver

Director of Eyecom china

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