Cambodia to phase out US dollar denominations

Cambodia will soon not accept smaller denominated US dollar banknotes — US$1, US$2 and US$5 — due to low demand.

The National Bank of Cambodia (NBC) said it was considering not accepting them from banks and microfinance institutions (MFIs) which it said were flooding its stockpiles.

“We will give banks (and MFIs) three months starting June 1 until Aug 31 to take all those notes to the NBC for transport abroad without a service fee.

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