NBC committed to strengthen confidence in the riel

The National Bank of Cambodia (NBC) said it will continue to strengthen confidence in the local currency by stabilising the currency exchange rate and enforcing its existing financial tools to boost the riel’s usage.

NBC’s Monetary Policy Committee conducted a meeting last Friday and according to its press release issued the same day, it will continue stabilising the currency exchange rate based on actual economic change.

It will also stabilise the interest rate of liquidity-providing collateralised operations (LPCO) and make 800 billion Cambodian riel ($200 million, Bt6.4 billion) a month available for banks and financial institutions to obtain funds through the LPCO.

In full: http://www.nationmultimedia.com/detail/asean-plus/30369759

© 2019, The Cambodia Daily. All rights reserved No part of this article may be reproduced in print, electronically, broadcast, rewritten or redistributed without written permission.