Local Currency and Exchange Information

The official currency in Cambodia is the Cambodian Riel (KHR), but the US Dollar (USD) is widely accepted and often preferred for transactions, especially in urban areas like Phnom Penh.

• As of the latest rates, 1 USD is approximately 4,000 KHR.
• Exchanging currency can be done at banks, exchange offices, and some hotels, but avoid street vendors for better safety and rates.
• It’s advisable to keep some small US notes for transactions, as change may often be given in KHR.

Payment Methods and Banking Options

Phnom Penh offers a variety of payment methods to suit different preferences:

• Credit and Debit Cards: Most major cards (Visa, Mastercard) are accepted in hotels, restaurants, and larger shops. However, smaller vendors may only accept cash.
• ATMs: Widely available throughout the city, dispensing both USD and KHR. Look for ATMs from reliable banks like ACLEDA Bank or Canadia Bank.
• Mobile Payments: Services like Wing and Pi Pay are growing in popularity, especially among locals.

Be mindful of foreign transaction fees charged by your bank when using cards abroad.

Tipping Customs and Payment Etiquette

Tipping is appreciated in Phnom Penh, though not mandatory. Here are some guidelines:

• Restaurants: A tip of 10% is standard if service is not included.
• Guides and Drivers: Consider tipping around $5 for a full-day service.
• Hotels: Small tips for bellhops or housekeepers ($1 or less) are common.

When making payments, it’s polite to hand money directly to the person rather than placing it on the counter.

Cost Considerations and Budgeting Tips

Phnom Penh is generally affordable compared to Western cities, but costs can vary:

• Accommodation: Budget hotels start around $10 per night, while mid-range options can range from $30 to $70.
• Food: Street food can be as low as $1, while a meal in a restaurant typically costs between $3 and $10.
• Transport: Tuk-tuks are a popular choice, with typical fares around $1 to $5 depending on the distance.

To manage your budget effectively, consider using a daily spending limit and prioritizing experiences that offer the best value.

Practical Financial Advice for Travelers

Here are some essential tips to enhance your financial experience in Phnom Penh:

• Carry Small Bills: Keep a mix of small USD and KHR notes for easier transactions.
• Stay Vigilant: Be cautious with your belongings and financial transactions, especially in crowded areas.
• Inform Your Bank: Notify your bank of your travel plans to avoid potential card blocks.
• Use Local SIM Cards: Get a local SIM for internet access to use mobile payment apps conveniently.

By following these tips and being informed about the local financial landscape, you can make your visit to Phnom Penh both enjoyable and financially savvy.