Senate President urges shift from Thai baht to bolster Cambodian riel amid trade slowdown

PHNOM PENH, Cambodia (Oct.09,2025) — Senate President Samdech Techo Hun Sen has called on Cambodians to reduce their reliance on the Thai baht and prioritize the use of the national currency, the Cambodian riel, citing concerns about economic stability and national sovereignty.

In a public statement issued Oct. 6, Hun Sen said residents in Poipet, a border town in Banteay Meanchey province, had begun exchanging Thai baht for riel within hours of his earlier appeal. He praised the move as a step toward reducing financial dependence on foreign currencies.

“It is commendable that Cambodian citizens are using the riel on our own soil,” Samdech Techo said. “This helps safeguard us from financial vulnerabilities and prevents foreign currencies from being used as political tools.”

His remarks come as bilateral trade between Cambodia and Thailand shows signs of strain. According to the General Department of Customs and Excise, trade between the two countries totaled $2.66 billion in the first eight months of 2025, down 4.6% from the same period last year. Cambodian exports to Thailand dropped 6.4% to $535 million, while imports fell 4.1% to $2.12 billion.

Officials have attributed the decline to border closures and logistical shifts, with Thailand redirecting shipments through sea ports and alternative land routes via Laos.
Samdech Techo Hun Sen also expressed concern over reports that Cambodians working in Thailand were facing difficulties withdrawing money from banks.

He warned that continued reliance on the baht, both abroad and domestically, could pose long-term risks to Cambodia’s financial system.

In his address, Samdech Techo Hun Sen urged currency exchange operators to adhere to market rates and avoid manipulating exchange values for profit.

“Do not exploit the situation by devaluing the baht or inflating the riel. These practices harm those who rely on fair and stable exchange rates,” he said.

He called on the public and businesses to stop quoting prices, wages and services in Thai baht, encouraging the use of either the riel or the U.S. dollar, with a preference for the riel.

“If you truly love your country, carry riel banknotes bearing the images of our national leaders, rather than those of a foreign monarch,” he added.

Samdech Techo Hun Sen also appealed to government authorities to crack down on the smuggling of Thai goods into Cambodia, despite official border closures.

“Such behavior invites disrespect from our neighbors and creates the impression that Cambodia cannot function without foreign products,” he said.

Although no longer serving as prime minister, Hun Sen suggested that stronger measures would have been taken under his leadership.

“If I were still prime minister, I wouldn’t need to speak like this. I would simply issue orders for arrests or removals from office,” he said. “But don’t assume that ‘when the cat’s away, the mice will play.’”

Samdech Techo Hun Sen stepped down in 2023 after nearly four decades in office, handing power to his son, Prime Minister Hun Manet.