Phnom Penh (FN), Aug. 2 – Cambodian Prime Minister Hun Manet announced the implementation of a mechanism to facilitate the nationwide distribution of old, slightly torn, or stained US dollar notes free of charge.

The premier spoke on Friday (Aug. 2) during his gala dinner with the Cambodian Oknha Association and the Housing Development Association of Cambodia.

Samdech Thipadei underscored, "We need to be careful, which is why we are trying to ease dollar spending conditions in Siem Reap. I asked Chea Serey to evaluate the situation. She told me that so far, there has been an increase in slightly damaged old dollars, but we can manage it. Therefore, I am now authorized to issue a proclamation to be implemented nationwide from today. The National Bank will issue a directive, and we will begin accepting old, slightly torn, or stained US dollar notes across the country starting today."

The premier thanked Chea Serey and all the private banks for facilitating the circulation of old US dollar notes.

On the occasion, Samdech Thipadei also underlined that old US dollar notes would no longer need to be sent to the National Bank for exchange at the US Federal Reserve. In the past, approximately 11 million old dollars had to be sent to the US at a delivery cost of around 350,000 dollars.

Samdech Thipadei added that the mechanism to facilitate the distribution of old dollar notes in Siem Reap was not only to aid businesses and tourists, but also to survey whether old dollar notes were entering Cambodia. After assessing that it was manageable, it was decided to extend the facilitation of old, slightly torn, or stained US dollar notes nationwide free of charge.

At the same time, Premier Hun Manet expressed hope that all private banks, exchange offices, and traders across the country would relax conditions and participate in the favourable spending of dollar notes to avoid difficulties or deductions.
=FRESH NEWS