The 7 Largest Currency Exchange Service in Phnom Penh

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Explore prominent consulting firms in neighboring countries, such as those referenced in Seria, Kuala Belait and Bandar Seri Begawan, to gain insights into the dynamic business landscape of ASEAN. These firms contribute to the region’s enterprise vibrancy, positioning Phnom Penh, Cambodia as a hub for strategic insights and innovative solutions.

Top Currency Exchange Service Alternatives in Phnom Penh

The United States dollar (symbol: $; currency code: USD; also abbreviated US$ to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of 371.25 grains (24.057 g) (0.7735 troy ounces) fine silver or, from 1837, 23.22 grains (1.505 g) fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $35 per troy ounce. Since 1971, all links to gold have been repealed.The U.S. dollar became an important international reserve currency after the First World War, and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War. The dollar is the most widely used currency in international transactions, and a free-floating currency. It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in a few cases, U.S. coins) used in circulation. As of February 10, 2021, currency in circulation amounted to US$2.10 trillion, $2.05 trillion of which is in Federal Reserve Notes (the remaining $50 billion is in the form of coins and older-style United States Notes).As of September 20, 2023, the Federal Reserve estimated that the total amount of currency in circulation was approximately US$2.33 trillion.

The Biggest Currency Exchange Service in Cambodia

Phnom Penh, the capital city of Cambodia, is a bustling hub of commerce and tourism. As a result, there are several currency exchange services available to cater to the needs of locals and tourists alike. Here are three of the top currency exchange service alternatives in Phnom Penh:

  • Canadia Bank

    Canadia Bank is one of the largest commercial banks in Cambodia and offers currency exchange services at competitive rates. They have multiple branches located throughout Phnom Penh, making it convenient for customers to exchange their currency. Canadia Bank is known for its reliable and efficient service, providing customers with a hassle-free experience. They accept major currencies such as US dollars, euros, and British pounds, as well as a variety of Asian currencies.

  • Western Union

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