Tag - denomination

Money Matters in Cambodia

Money Matters in Cambodia
Money Matters in Cambodia
Money Matters in Cambodia

Cambodia has its own currency, which is known as the riel and comes in denominations of 50, 100, 500, 1,000, 5,000, 10,000, 50,000 and 100,000 riel notes. However, visitors are most likely to come across the 500 and 1,000 riel notes, while changing 50,000 and 100,000 riel notes can be rather tricky and should be done at up market hotels as well as fancy restaurants and banks.

In addition to the riel, US$ are also widely accepted throughout Cambodia, and the pricing for hotel rooms and often food and other items in tourist areas tends to be quoted in riel. Travellers who have just come from Thailand will also be able to spend any leftover Baht in areas close to the Thai/Cambodian borders. It is a good idea to carry a selection of US$ and riel notes and take good care of them as notes that are torn and crumpled will usually be rejected.  

Costs
While the cost of visiting Cambodia is cheap by Western standards, it is quite a bit more expensive than in the neighbouring nations of Laos and Thailand. The biggest costs here are accommodation and transport, although both can be done cheaply by those who are on a shoestring budget. By cutting back to the absolute necessities it is possible to send just US$10 a day, while those who want a few little luxuries such as beer should allow themselves US$25. A budget of US$100 a day offers access to some of the country’s best hotels and restaurants, while the sky is the limit for those who can afford to spend US$200 per day.

Changing your money
Banks can be found in all major tourist areas of Cambodia and while these establishments offer to change currency, local moneychangers generally offer much better rates. Changing riel into other currencies can be rather tricky and costly, so it is best to avoid changing large amounts of cash unless you really need to.

ATMs
The number of ATMs in Cambodia is on the rise and although there are incidents of cards being swallowed, this is becoming less common. ATMs usually accept just MasterCard and Visa and dispense cash in US$.

Travellers’ cheques and credit cards
Traveller’s cheques and credit cards can usually be used in up market hotels and banks in most tourist areas of the country. However, changing travellers’ cheques elsewhere can be difficult, and it is best stockpile some cash before heading out into the countryside.

Tipping
Although tipping is not expected it can make a big difference as wages are extremely low and even a tip of $2 might almost double the waiter or waitress’ wages.

Money Matters in Thailand

Money Matters in Thailand
Money Matters in Thailand
Money Matters in Thailand
Money Matters in Thailand

The currency used in Thailand is the Baht. Baht notes come in denominations of 20 (green), 50 (blue), 100 (red), 500 (purple) and 1000 (brown). All notes feature pictures of the current king, His Majesty King Bhumibol Adulyadej, and you must be careful when handling the notes not to tear them as it is an offence to defile his image. Coins are large 10 Baht coins, 5 Baht, 2 Baht and 1 Baht. The two Baht and 1 Baht coins look very similar, although the 2 Baht coins are slightly bigger and have a picture of The Golden Mount on the back.

Satang coins are much smaller and bronze coloured. There are 100 satang in one Baht and these coins are available in 25-satang and 50-satang pieces.

Compared to the West, Thailand is actually a very inexpensive country for visitors. If you are willing to dine at small street stands or markets, you can eat a good meal for less than 50 Baht. Public transport is very cheap too, as are clothes and accessories.

For those travelling on a tight budget, 500.00 Baht a day should be enough anywhere in Thailand. If you want to stay in comfortable hotels and eat at restaurants, you should increase your budget to around 600.00 – 1000.00 Baht a day outside Bangkok and major tourist hot spots such as Phuket, where you can expect to pay around double.

For those with deep pockets, there is no end to the luxury that you can find in Bangkok and key tourist destination. Bangkok boasts some excellent dining options, top of the range hotels and shopping opportunities.

Changing Your Money

Banks or legal money-changers offer the best rates. ATMs that accept Visa and other credit cards are easy to find throughout Thailand, although an obvious exception is small villages to the north of Thailand. Many exchange booths will give you a cash advance on your credit card.

When buying Baht, US dollars are the most eagerly accepted currency and it is a good idea to have a supply of travellers’ cheques as they receive a better rate than cash. British pounds are the next-best alternative. Credit cards are becoming increasingly acceptable in shops, hotels and restaurants, with Visa being the most useful, followed by MasterCard.

Sample Prices:

Pad thai on the street: 40 Baht
Bottled water: 10-12 Baht
Bus fare: 6-16 Baht
Small Singha beer: 70-100 Baht
Souvenir t-shirt: 200-300 Baht
Cinema tickets: 120-170 Baht +

Average Room Prices Baht:

Budget: 130 (limited number) -600 Baht

Mid: 600-1500 Baht

High: 1500+ Baht

Tipping

Tipping is not generally expected in Thailand, although change is often left at the end of a large, expensive meal. However, most Thais will generally only leave a token tip of 20 baht or so.

There is often a 10% service charge will be added to your bill at many top class restaurants and in this case tipping is not expected.