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| Stock quotations must be in riel only, the Securities and Exchange Commission of Cambodia (SECC) said in a statement on its website, ending a debate about whether listings on the bourse, set to open in July, should be in riel, US dollars or a combination of both. -- PHOTO: REUTERS |
AFP
PHNOM PENH - CAMBODIA will use the local currency for trading on its soon-to-be-launched stock exchange, officials said on Saturday, in a bid to boost the use of the riel in the heavily dollarised country.
Stock quotations must be in riel only, the Securities and Exchange Commission of Cambodia (SECC) said in a statement on its website, ending a debate about whether listings on the bourse, set to open in July, should be in riel, US dollars or a combination of both.
But for the first three years, 'if buyers and sellers both agree, then they can arrange to settle payments in US dollars", Chan Narith, director of the SECC's securities market supervision department, told AFP.
Cambodia has a long-term goal to reduce reliance on the greenback, which according to the Asian Development Bank makes up more than 90 per cent of all currency in circulation in Cambodia.
The country signed an agreement in 2008 with representatives from South Korea's stock exchange, the Korea Exchange (KRX), Asia's fourth-largest bourse operator, to establish a stock market in 2009 but the launch date has been pushed back twice.
While still among one of the world's poorest countries, Cambodia has emerged from decades of conflict as one of the region's rising economies.
6 comments:
ដោយ ៖ កោះឯករាជ្យ
ថ្ងៃ សុក្រ ទី ១១ ខែ មិនា ឆ្នាំ ២០១១
ជនសង្ស័យដែលឃាត់ខ្លួនឈ្មោះង្វៀន យ៉ុងធឹក និងនារីរងគ្រោះអាយុ១៨ឆ្នាំ
(រូបថត បាសាក់)
ជនសង្ស័យដែលឃាត់ខ្លួនឈ្មោះង្វៀន យ៉ុងធឹក និងនារីរងគ្រោះអាយុ១៨ឆ្នាំ
ខេត្តកណ្តាល ៖ បុរសជនជាតិវៀតណាមម្នាក់ត្រូវសមត្ថកិច្ចកងរាជអាវុធហត្ថឃាត់ ខ្លួនកាលពីថ្ងៃទី១០ មីនា ២០១១ ដោយយោងតាមពាក្យបណ្តឹងរបស់ពី អាក្បត់ជាតិ ជា សា រុនប្រធាន សាខា បក្សប្រជាជន កុម្មុយនិស្ត វៀត ណាមនៅប្រទេសកម្ពុជាដែលចោទថាបានចាប់ កូនស្រីវាដាក់រថយន្តនាំយកទៅរំលោភ សេពសន្ថវៈកាលពីវេលាម៉ោង៨ និង៤០នាទីព្រឹកថ្ងៃទី៧ មីនា ២០១១ នៅចំណុចភូមិព្រែកល្វា ឃុំពញាឮ ស្រុកពញាឮ.
អាក្បត់ជាតិជា សា រុនប្រធាន សាខា បក្សប្រជាជន កុម្មុយនិស្ត វៀត ណាមនៅប្រទេសកម្ពុជាវាថា
គ្មានវៀតណាមម្នាក់រស់នៅប្រទេសកម្ពុជា ដូចចោទប្រកាន់ថាស្អីនោះទេតែឥឡូវ ឃើញទេ?
កូនស្រីវាត្រូវអា ង្វៀន យ៉ុងធឹក ដាក់រថយន្តនាំយកទៅរំលោភ.
អាក្បត់ជាតិ ជា សា រុន វាថា អាហ៊ុន សែន ជាវរ្ម័នទី១ ជាទេវតានៃកម្ពុជា,អាក្បត់ជាតិ
សព្វថ្ងៃនេះអាក្បត់ជាតិហ៊ុន សែន ឲ្យយួនរស់នៅពេញទឹកដី ពួកគេធ្វើថីមិនខ្ចីមាត់
សព្វថ្ងៃនេះយួនពង្វក់អាក្បត់ជាតិហ៊ុន សែន ឲ្សំឡាប់ប្រជាជនខ្មែរ
ឲ្យអស់រលីង!
បរាជ័យ! ពួកអាក្បត់ជាតិ ចក្រពត្ដិ សក្ដិភូមិ នឹងបរិវារយោធាយួន ហ៊ុន សែន និង ជា សា រុន
i think this is a good strategy for cambodia with the aim of strengthening and reintroducing the use of khmer currency, the riel. god bless cambodia.
there are many currencies in the world, there is nothing wrong with khmer currency, really! we should help to strengthen and reintroduce our national currency, the riel, again.
Who says there is anything wrong with the Riel?
Cambodia does not need God to bless her; she simply needs her people to learn to work together for her sake and put her first in their mind.
God only comes after that unity and the spirit of working together has been achieved to celebrate the achievement of Cambodians and Cambodia.
God has been an outsider all along so we need to depend on ourselves first before inviting him to come and join us for our celebration.
God was so scared during the KR regime that is why he was nowhere to be found during those 3 years 8 months and 20 days.
Now the question is:
Will the ordinary Khmers use the national currency in their daily transactions ?
"CAMBODIA will use the local currency for trading on its soon-to-be-launched stock exchange, officials said on Saturday, in a bid to boost the use of the riel in the heavily dollarised country."
=Oh my God! Why are these dirt poor Cambodian people are in such hurry to gamble their money away? It doesn't matter whether it is riel or dollar because this is pure gambling! If dirt poor Cambodian people don't even know the inner working of the stock market and they are in for a sucker!
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