Polls Don’t Affect Riel

Cambodia’s currency re­mained steady in the wake of Sunday’s polls, defying analysts who had predicted the riel would plummet to 5,000 riel to the dollar before the election.

On Tuesday, exchange dealers were selling the dollar for 3,950 riel and buying at 3,900.

The National Bank of Cambo­dia’s director of economic re­search, Chea Sok, said Tuesday he was pleased with the currency’s performance, attributing its relative stability to a calm atmosphere in the wake of the polls.

With the riel stable, he said, he believes prices will begin to fall, after rising by about 20 percent over the past two months.

Exchange dealers at Phsar Thmei said Tuesday that business was slow and fewer people were buying dollars this week than before the elections.

The value of the riel has drop­ped 44 percent since the factional fighting last July, when it traded at about 2,700 to the dollar.

 

 

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