Cambodian Currency - Riel - Page 2

mrfusion · December 4th, 2012, 03:33 AM

Quote:

Originally Posted by Wisarut

Coins never have gold or any assets as reserve to back up ...

Neither are the notes.

Wisarut · December 4th, 2012, 12:08 PM

^
Nope, according to Bank of Thailand even though the banknotes are going to be a fraction compared with the Hard currencies (US Dollars, Euro, Japanese Yen, GB Pound and Swiss Franc)

mrfusion · December 4th, 2012, 12:48 PM

Quote:

Originally Posted by Wisarut

^
Nope, according to Bank of Thailand even though the banknotes are going to be a fraction compared with the Hard currencies (US Dollars, Euro, Japanese Yen, GB Pound and Swiss Franc)

I don't understand what you mean, but what has Bank Of Thailand, what they say or promised got to do with Cambodia.

I don't think any currencies is back by gold and silver now.

Wisarut · December 4th, 2012, 02:14 PM

I refer to the reserves to back up the printed Banknotes

mrfusion · December 4th, 2012, 03:34 PM

Quote:

Originally Posted by Wisarut

I refer to the reserves to back up the printed Banknotes

Are you sure our government has anything to back up the bank notes. even the US government can not back up its notes.

Anyway, I can't understand the concept of backing up notes and not coins, when a $1 note has exactly the same value as a $1 coin.

Wisarut · December 6th, 2012, 06:27 AM

^
Coins in past were made from gold and silver, so the reserves to back up is not necessary but not in case of paper currency which need reserves to back up - remember the day of Gold Standard when the paper currency had to be back up by reserves in Gold and foreign currency that use Gold Standard ...

mrfusion · December 6th, 2012, 07:47 AM

Quote:

Originally Posted by Wisarut

^
Coins in past were made from gold and silver, so the reserves to back up is not necessary but not in case of paper currency which need reserves to back up - remember the day of Gold Standard when the paper currency had to be back up by reserves in Gold and foreign currency that use Gold Standard ...

Gold Standard was removed like 40 years ago.

Coins today are make out of Alunimium, nickle, copper, etc. It is no different to paper currency when the reserve cannot back up with gold/silver, but both are legal tender and should be view the same.

Actually, coins can be more valuable, metal price appreciate over time, the Australian 5c coins has 6.5c worth of metal now.

I can't see a valid reason why shouldn't Cambodia replace the lower value high circulation notes to more durable coins.

Wisarut · December 6th, 2012, 09:39 AM

^
Yah, I know about that but the old reserves still go on ... BTW, Numismatic values which you are referring cannot be counted for the matter of related to foreign exchange though.

Wisarut · December 7th, 2012, 04:42 AM

Take a look at the report on the International Reserves, Foreign assets held or controlled by the central bank which are readily available for financing the balance of payments imbalances or to be used as a tool in carrying out exchange rate policy. International reserves consists of monetary gold, special drawing rights (SDRs), reserve positions in the Fund, and foreign exchange assets, to give a basic idea about the reserves to back up the banknotes here

http://www.bot.or.th/English/Statist...lReserves.aspx

Here is the report on 30 Nov 2012
http://www2.bot.or.th/statistics/BOT...4&language=ENG

Here is the Currency Act of BE 2501 (1958) -take a look at Section 30 to get the basic idea about the measures to ensure that the banknotes are not worthless paper which should be applied to Cambodian Riel as well

Section 30. The following assests shall be lawful components of the Currency Reserve:
(1) gold,
(2) foreign currencies which are convertible currencies or any other currencies prescribed by a Ministerial Regulation, which must be in the form of deposit with a bank outside the Kingdom or with an international financial institution,
(3) foreign securities payable in foreign currencies as stated in (2),
(4) gold and foreign assets paid as subscription to the International Monetary Fund,
(5) Reserve Tranche Purchase Certificate
(6) Special Drawing Right Certificate,
(7) securities of the Thai Government payable in foreign currencies as stated in (2) or in baht,
(8) domestic bills which the Bank of Thailand is permitted to purchase or rediscount, provided that the total value thereof does not exceed 20 per cent of the total amount of notes issued.

With respect to the assets stated in (1), (2), (3), (4), (5) and (6) above, the Bank of Thailand shall be required to maintain their total value at not less than 60 per centum of the notes issued.

http://www.bot.or.th/English/LawsAnd...5_Currency.pdf

mrfusion · December 7th, 2012, 05:29 AM

Quote:

Originally Posted by Wisarut

^
BTW, Numismatic values which you are referring cannot be counted for the matter of related to foreign exchange though.

Not exactly sure what you are referring to, assume you refer to this

Quote:

the Australian 5c coins has 6.5c worth of metal now.

If you care to collect millions of 5c coin, melt and separate the metal, you can sell the metal for more then its face value worth, obviously, the production cost may not justify the effort.

It has got nothing to do with foreign exchange.

mrfusion · December 7th, 2012, 05:35 AM

Quote:

Originally Posted by Wisarut

Here is the Currency Act of BE 2501 (1958) -take a look at Section 30 to get the basic idea about the measures to ensure that the banknotes are not worthless paper which should be applied to Cambodian Riel as well

I don't know if it applied, or if it can apply to Riel, but if the government can cover the Riel in note form, it can replace the note and cover it in coin form.

Wisarut · December 7th, 2012, 07:32 PM

^
Just encouraging more people to use coins instead of quickly worn banknotes ...
BTW, just tell them that those neighbors who run the printing presses to print banknotes now have to make around the clock vigilante on the prices of cotton (US Dollar per bale) since cotton is the main ingredient for paper for printing banknotes - at the level of Trillions Baht levels ....

thekh · January 30th, 2013, 03:44 AM

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Source:
http://news.sabay.com.kh/articles/366490

mrfusion · January 30th, 2013, 04:25 AM

What does it say, are they going to print this version of 1000r form now on, or is it a special edition?

thekh · January 30th, 2013, 06:55 AM

It's a new bill will come to public on Jan 1, 2013.

December 4th, 2012, 12:08 PM	#22
Wisarut Registered User Join Date: Oct 2003 Posts: 10,501 Likes (Received): 228	^ Nope, according to Bank of Thailand even though the banknotes are going to be a fraction compared with the Hard currencies (US Dollars, Euro, Japanese Yen, GB Pound and Swiss Franc) __________________ BKK Mass Transit Expert

December 4th, 2012, 02:14 PM	#24
Wisarut Registered User Join Date: Oct 2003 Posts: 10,501 Likes (Received): 228	I refer to the reserves to back up the printed Banknotes __________________ BKK Mass Transit Expert

December 6th, 2012, 06:27 AM	#26
Wisarut Registered User Join Date: Oct 2003 Posts: 10,501 Likes (Received): 228	^ Coins in past were made from gold and silver, so the reserves to back up is not necessary but not in case of paper currency which need reserves to back up - remember the day of Gold Standard when the paper currency had to be back up by reserves in Gold and foreign currency that use Gold Standard ... __________________ BKK Mass Transit Expert

December 6th, 2012, 09:39 AM	#28
Wisarut Registered User Join Date: Oct 2003 Posts: 10,501 Likes (Received): 228	^ Yah, I know about that but the old reserves still go on ... BTW, Numismatic values which you are referring cannot be counted for the matter of related to foreign exchange though. __________________ BKK Mass Transit Expert Last edited by Wisarut; December 6th, 2012 at 02:00 PM. Reason: Addendum

December 7th, 2012, 04:42 AM	#29
Wisarut Registered User Join Date: Oct 2003 Posts: 10,501 Likes (Received): 228	Take a look at the report on the International Reserves, Foreign assets held or controlled by the central bank which are readily available for financing the balance of payments imbalances or to be used as a tool in carrying out exchange rate policy. International reserves consists of monetary gold, special drawing rights (SDRs), reserve positions in the Fund, and foreign exchange assets, to give a basic idea about the reserves to back up the banknotes here http://www.bot.or.th/English/Statist...lReserves.aspx Here is the report on 30 Nov 2012 http://www2.bot.or.th/statistics/BOT...4&language=ENG Here is the Currency Act of BE 2501 (1958) -take a look at Section 30 to get the basic idea about the measures to ensure that the banknotes are not worthless paper which should be applied to Cambodian Riel as well Section 30. The following assests shall be lawful components of the Currency Reserve: (1) gold, (2) foreign currencies which are convertible currencies or any other currencies prescribed by a Ministerial Regulation, which must be in the form of deposit with a bank outside the Kingdom or with an international financial institution, (3) foreign securities payable in foreign currencies as stated in (2), (4) gold and foreign assets paid as subscription to the International Monetary Fund, (5) Reserve Tranche Purchase Certificate (6) Special Drawing Right Certificate, (7) securities of the Thai Government payable in foreign currencies as stated in (2) or in baht, (8) domestic bills which the Bank of Thailand is permitted to purchase or rediscount, provided that the total value thereof does not exceed 20 per cent of the total amount of notes issued. With respect to the assets stated in (1), (2), (3), (4), (5) and (6) above, the Bank of Thailand shall be required to maintain their total value at not less than 60 per centum of the notes issued. http://www.bot.or.th/English/LawsAnd...5_Currency.pdf __________________ BKK Mass Transit Expert Last edited by Wisarut; December 7th, 2012 at 04:47 AM. Reason: Addendum

December 7th, 2012, 07:32 PM	#32
Wisarut Registered User Join Date: Oct 2003 Posts: 10,501 Likes (Received): 228	^ Just encouraging more people to use coins instead of quickly worn banknotes ... BTW, just tell them that those neighbors who run the printing presses to print banknotes now have to make around the clock vigilante on the prices of cotton (US Dollar per bale) since cotton is the main ingredient for paper for printing banknotes - at the level of Trillions Baht levels .... __________________ BKK Mass Transit Expert

January 30th, 2013, 03:44 AM	#33
thekh Registered User Join Date: Mar 2008 Posts: 1,031 Likes (Received): 24	ចេញក្រដាសប្រាក់ “ព្រះបរមរតនកោដ្ឋ” ១០០០រៀលថ្មី អនុក្រឹត្យរបស់រាជរដ្ឋាភិបាលកម្ពុជាដែលចុះថ្ងៃទី២៩ ខែមករា ឆ្នាំ២០១៣នេះ បានប្រកាសចេញផ្សាយធនប័ត្រ(ក្រដាសប្រាក់) “ព្រះបរមរតនកោដ្ឋ” ប្រភេទ ១០០០ រៀលថ្មីនៅមុនថ្ងៃដង្ហែព្រះបរមសព ប្រមាណ៤ថ្ងៃទៀតនេះ។ ក្នុងអនុក្រឹត្យបានបញ្ជាក់នៅក្នុងមាត្រា១ថា ដោយផ្អែកតាមសំណើរបស់អគ្គទេសាភិបាលនៃធនាគារជាតិនៃកម្ពុជា រាជរដ្ឋាភិបាលកម្ពុជាបានសម្រេច អនុញ្ញាតឲ្យផ្សព្វផ្សាយ ធ្វើចរាចរ និងប្រើប្រាស់ទូទាំងប្រទេសនូវប្រភេទក្រដាសប្រាក់ថ្មីនេះ ទន្ទឹមគ្នានឹងបណ្ដាប្រភេទក្រដាសប្រាក់ចេញផ្សាយរួចហើយ។ រូប FB គឹម គុណវឌ្ឍន៍ មាត្រា២ នៃអនុក្រឹត្យបន្ថែមទៀតថា ធនាគារជាតិនៃកម្ពុជា មានភារកិច្ចចេញសេចក្តីប្រកាសដើម្បីផ្សព្វផ្សាយពីលក្ខណៈសម្គាល់នៃធនប័ត្រ “ព្រះបរមរតនកោដ្ឋ” ប្រភេទ ១០០០រៀលនេះ។ មាត្រា៣ នៃអនុក្រឹត្យដដែលនោះបានសង្កត់ធ្ងន់ថា រដ្ឋមន្ត្រីទទួលបន្ទុកទីស្ដីការគណៈរដ្ឋមន្ត្រី អគ្គទេសាភិបាលធនាគារជាតិនៃកម្ពុជា រដ្ឋមន្ត្រី រដ្ឋលេខាធិការគ្រប់ក្រសួង-ស្ថាប័ន និងអភិបាលរាជធានី-ខេត្ត ត្រូវទទួលបន្ទុកអនុវត្តអនុក្រឹត្យនេះតាមភារកិច្ចរៀងៗខ្លួន ចាប់ពីថ្ងៃចុះហត្ថលេខានេះតទៅ។ បើគិតចាប់ពីរាជរដ្ឋាភិបាលអាណត្តិទី១ (១៩៩៣) មកទល់នឹងពេលនេះ ក្រដាសប្រាក់ ១០០០ រៀល បានបោះពុម្ពចំនួន៣លើករួចមកហើយ ហើយបើគិតក្រដាស “ព្រះបរមរតនកោដ្ឋ” ដែលត្រៀមចរាចរមានចំនួនបួនលើកហើយ។ ក្រដាសប្រាក់ ១០០០ រៀល បោះពុម្ពលើកទីមួយនៅថ្ងៃទី២៥ មិនា ១៩៩៥ ដែលម្ខាងមានរូបប្រសាទបាយ័ន(ប្រាង្គខាងលើ) និងម្ខាងរូបព្រះបរមរាជវាំង ឈប់ដាក់ឲ្យចរាចរហើយ លើកទីពីរ បោះពុម្ពនៅថ្ងៃទី២៤ ធ្នូ ១៩៩៩ ម្ខាងរូបកសិករកំពុងធ្វើកសិកម្មបែបទំនើប និងម្ខាងរូបប្រាសាទព្រះវិហារ កំពុងចរាចរ លើកទី៣ បោះពុម្ពនៅថ្ងៃទី៦ មករា ឆ្នាំ២០០៦ ម្ខាងរូបក្លោងទ្វាប្រសាទបាយ័ន និងម្ខាងរូបកំពង់ផែខេត្តព្រះសីហនុ និងលើកទី៤នេះ ម្ខាងរូបព្រះបរមរតនកោដ្ឋ និងម្ខាងរូបដង្ហែព្រះបរមសពចេញពីអាកាសយានដ្ឋានអន្តរជាតិពោធិចិនតុង មកព្រះបរមរាជវាំង៕ Source: http://news.sabay.com.kh/articles/366490

January 30th, 2013, 04:25 AM	#34
mrfusion Home Energy Reactor Join Date: Oct 2010 Location: Phnom Penh & Sydney Posts: 4,902 Likes (Received): 24	What does it say, are they going to print this version of 1000r form now on, or is it a special edition? __________________ Your brain has two parts: the left and the right. the left gets nothing right, and the right has nothing left. One of the basic differences between God and humans is, God gives, gives and forgives, Humans gets, gets and forgets.

January 30th, 2013, 06:55 AM	#35
thekh Registered User Join Date: Mar 2008 Posts: 1,031 Likes (Received): 24	It's a new bill will come to public on Jan 1, 2013.

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