Cambodia - Money

Since Cambodia is basically a dollarized economy, the National Bank of Cambodia has only limited influence

Exchange rates: Cambodia
new riels per US$1
Jan 2001 3,909.0
2000 3,840.8
1999 3,807.8
1998 3,744.4
1997 2,946.3
1996 2,624.1
SOURCE: CIA World Factbook 2001 [ONLINE].

with respect to monetary policy . Given the strength of the dollar and, thus, Cambodia's relative immunity to currency devaluation problems, the country has done well in avoiding inflation , which was virtually nil in 2000, 4 percent in 1999, and only 12 percent in 1998, despite the Asian economic crisis. In fact, inflation has been extremely low since 1994.

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