Cambodia releases virtual currency

1.

virtual currency fraud calls 110 directly

many departments, such as the China Banking and Insurance Regulatory Commission, the central office of information technology, the Ministry of public security and so on, issued risk tips, saying that some criminals, under the banner of "financial innovation" and "blockchain", absorbed funds by issuing the so-called "virtual currency", "virtual assets" and "digital assets", thus infringing the legitimate rights and interests of the public

this kind of activity is not really based on blockchain technology, but on the hype of blockchain concept, illegal fund-raising, pyramid selling and fraud. In essence, it is a Ponzi scheme of "repaying the old by borrowing the new", which is difficult to maintain the long-term operation of funds

the public should treat the blockchain rationally, not blindly believe the promises, establish a correct monetary concept and investment concept, and effectively improve the risk awareness. Report to the public security organ in time after being cheated

extended data:

the first is the obvious networking and cross-border of virtual currency. Relying on the Internet and chat tools for transactions, and using online payment tools to balance funds, the risks spread widely and spread quickly. Some lawless elements set up websites by renting overseas servers to carry out activities for domestic residents and control illegal activities remotely

some indivials claim that they have obtained the investment quota of overseas high-quality blockchain projects in the chat tool group and can invest on their behalf, which is most likely fraud. Most of these illegal funds flow overseas, which makes it very difficult to supervise and trace

followed by deception, temptation and concealment. They use hot concepts to hype, fabricate various "tall and tall" theories, and some also use celebrity "big V" platforms to publicize. They use airdrop "candy" as temptation to claim that "currency value only rises but not falls", "investment cycle is short, income is high, and risk is low", which has strong bewitching

in practice, criminals illegally make huge profits by manipulating the price trend of the so-called virtual currency, setting profit and withdrawal threshold. In addition, some criminals also issue tokens under the guise of ICO, IFO, IEO, etc., or hype virtual currency in the way of IMO under the banner of sharing economy, which has strong concealment and confusion

finally, there are many kinds of illegal risks in this kind of behavior. Through public publicity, the illegal elements attract the public to invest funds, lure investors and development personnel to join, and constantly expand the fund pool with the t of currency appreciation and development offline profits, which has the characteristics of illegal fund-raising, pyramid selling, fraud and other illegal acts

2. The first issue of virtual currency is not recommended to play, because it may cost you nothing, or it may lead you astray into a pyramid scheme. If you want to play virtual currency, you should play those well-known virtual currencies, such as bitcoin, lightcoin, dogcoin and so on

to learn about foreign virtual currency information, you can go to bitcoin home.

3.

The currency of Cambodia is Khmer . According to the exchange rate on December 6, 2019, 100 RMB = 56895.45 Khmer

the exchange rate between RMB and Cambodian Riel is 1 RMB = 568.9545 Cambodian Riel; 1 Cambodian Riel = 0.0018 RMB

After the liberation of Phnom Penh on January 7, 1979, the people's Democratic Republic of Cambodia announced that a new set of currency was being prepared. It began to circulate on March 20, 1980. While retaining the currencies of the socialist neighbors, these currencies are not signed, depicting the pastoral scenery of Cambodia. Together with the money issued in 1987, they were used until the early 1990s, when the severe economic crisis led to the abandonment of small denominations

First, if the local currency depreciates, then the purchasing power of foreign currency will be strong, so a certain amount of foreign currency can buy more domestic procts, which means that the price of domestic procts in the international market is relatively cheap, thus increasing exports; On the other hand, if the local currency depreciates, the price of foreign goods will be expensive, so the domestic imports will inevitably decrease

Therefore, the result of RMB devaluation is to expand exports, restrain imports, increase trade surplus and promote economic development

The devaluation of local currency will cause trade frictions, which is not concive to the stability of national economy

Devaluation will not solve the problem of external demand slowdown. Although devaluation will help export enterprises survive because of cost rection, it is difficult to last. Especially for the instries that have lost competitiveness in China, devaluation will only delay the exit time of instries

4. There is no way to exchange Cambodian Riel at home, so we can only take it to Cambodia for consumption, or exchange Cambodian Riel into US dollars at the Cambodian airport before flying back to China, and then exchange it into RMB at the bank.

5.

Visa, a powerful payment giant with many users around the world, announced that it will support the payment function of virtual currency stable currency (usdc) on its platform. As the most influential payment platform in the world, supporting the entry of virtual digital currency not only increases the access channel of virtual currency, but also means that virtual currency has been graally recognized and supported by the market, which has become a trend of future currency development

although virtual currency has incomparable advantages over traditional paper currency, e to the lack of an international standard and agreement, its price is often hyped up and down by intentional speculators. For the popularization and application of virtual currency in the world, there is still a long way to go in the future

6.

According to the latest exchange rate on September 2, 2020, 1 Cambodian Riel = 0.001668 RMB, 500 Cambodian currency is equal to 0.834 RMB

throughout the 1980s, the Democratic National Bank of Cambodia became the National Bank of Cambodia as Cambodia became more free and market-oriented. In the early 1990s, it changed its name back to the National Bank of Cambodia

In 1992, the UN peacekeeping forces entered Cambodia, which put great pressure on the Cambodian economy. The value of the Cambodian Riel depreciated from 800 Riel to 2000 Riel to us dollar. New 200 and 500 Riel banknotes were put into circulation, and the new 50 Riel banknote replaced the red 50 Riel banknote issued in 1980

extended information:

< P > the development of Cambodian currency. A batch of 1000 Riel banknotes made in Russia and 2000 Riel banknotes printed in Germany, which Hun Sen intended to issue, were transported to Cambodia in early 1993

For fear of aggravating the already severe inflation, Hun Sen decided not to issue the two currencies until he won the UN backed election in May of that year. However, e to the unexpected victory in the Fengxin bick party election, these notes never entered the circulation field. Bundles of banknotes flow into Thailand and are bought by collectors from all over the world

in the years after the election, Cambodians have to carry bags full of small banknotes for shopping until a series of currencies currently in use are finally in circulation. At that time, Riel had fallen to nearly 3000 to a dollar, and even a small transaction required carrying a large pocket with a large amount of paper money

7.

The general legal tender of Cambodia is KHR, which is issued by the Central Bank of Cambodia. As early as 1863, the king of Cambodia made a treaty to take reil as the national legal tender

the currency issued in Cambodia is called Riel, with denominations of 100 Riel, 500 Riel, 1000 Riel, 2000 Riel, 5000 Riel (not yet issued), 10000 Riel, 20000 Riel, 50000 Riel and 100000 Riel respectively

the currency commonly used in Cambodia is US dollar in addition to Riel, and the exchange rate between Riel and US dollar is still fixed, usually one US dollar can be exchanged for 4000 Riel

The initial series of banknotes were printed in France and issued in March 1995. Interestingly, the designs of these notes are all based on the designs of the coins that were issued in the 1950s and 1960s. The green 1000 Riel note is almost the same as the red 5 Riel note that was first issued in 1961. Similarly, the 2000 Riel note is almost a replica of the blue 50 Riel, which was launched in 1956

5000 Riel is a of October Riel in 1962. The other 1000 Riel is equivalent to 100 Riel in 1956. 20000 Riels originated in January 1956. 50000 Riels originated in 1963. 100000 Riels, though not obvious, also came from 500 Riels in 1956

exchange rate

1 RMB (CNY) = 584.46 KHR

1 US dollar (USD) = 4000 KHR

1 (GBP) = 5983.6 KHR

1 EUR = 4322 KHR

8. Exchange: U.S. dollar and R in Cambodia, U.S. dollar and R in Cambodia, about $1 = 4000R. Generally, shops and restaurants charge both. If they encounter small change in US dollars, they usually charge small change according to the conversion of US $1:4000r. However, in the market, they can often exchange it with us $1:4200, so it's more cost-effective to counter-offer with us $R. Hotels, tickets and car rentals are mostly only US dollars. All hotels and markets in Siem Reap, Phnom Penh have exchange points. There are a lot of Chinese shops and restaurants in both Phnom Penh and Siem Reap. However, most of them do not accept RMB because of circulation problems. Master / visa card can be used in most supermarkets and stores. UnionPay card can only be used in the Bank of Canada in Siem Reap, and its logo is not seen in other places.

9.

approach:
1. Foreign exchange market trend is attached to the futures and foreign exchange quotation software
2. Foreign exchange quotation is also available on major financial websites
3. Exchange rate information can also be queried through the foreign exchange inquiry tool of mobile phone
4. Most mobile phone futures quotation software also has major currency exchange rate quotations

precautions:

exchange rate is constantly changing, When using it, please refer to the exchange rate of the day you need. When you exchange it at the bank counter and online banking, you should base on the real-time quotation at that time
for example, for the latest exchange rate query, you can input & quot; Exchange rate of Cambodian Riel to RMB;, You can see the latest exchange rate directly