Cross-border payments key to boosting riel, Cambodian governor says

QR payments set to expand to India and Japan, as central bank aims for independent monetary policy

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Cross-border payments using Cambodia’s Bakong digital payments system are key to expanding use of the riel, National Bank of Cambodia governor Chea Serey said on May 24.

The cross-border function is a way “to promote the use of local currency”, as merchants open accounts and accept payments in riel, said Serey. Cambodia currently operates a dual-currency system with the US dollar dominant in the economy.

During an interview at the Nikkei’s Future of Asia conference in Tokyo, the governor said

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