Cambodian riel

At such rates, the purchasing power of money deteriorates quickly enough to change how people behave.

A household receiving wages in Riel has a reason to spend them before prices increase further.

A merchant holding Riel earnings has a reason to convert them into something expected to retain value.

A person accumulating savings must consider whether those savings will purchase substantially less in the future.

The result can become self-reinforcing.

The Dollars That Arrived With Peace By the beginning of the 1990s, Cambodia was approaching a political turning point.

Years of civil conflict had damaged its economy, weakened its institutions and left much of the population struggling to rebuild ordinary life.

The Cambodian Riel had returned, but confidence in it remained fragile.