Information about currency: Riel (1953 - 1975)
| Currency Name | Riel (1953 - 1975) |
|---|---|
| System | 1 Riel = 100 Sen |
| Description | As part of French Indochina, Cambodia had used the French Indochinese Piastre until it gained independence in 1953. In 1953, the Cambodia branch of the Institut d'Émission des États du Cambodge, du Laos et du Vietnam issued notes dual denominated in piastre and Riel with the Riel being at par with the piastre. At the same time, the two other branches of the Institut had similar arrangements with the đồng in South Vietnam and the kip in Laos. The piastre itself was derived from Spanish pieces of eight (pesos). The Riel was at first subdivided into 100 centimes (abbreviated to cent. on the coins) but this changed in 1959 to 100 sen (សេន). For the first few years, the Riel and piastre circulated alongside each other. The 10, 20 and 50 centimes of 1953 and sen coins were minted in aluminium and were the same size as the corresponding att and xu (su) coins of Laos and South Vietnam (though without the holes in the Lao coins). In 1975, the Khmer Rouge communists took control of the country and abolished not only the currency, but the concept of money altogether. After their defeat, a second Riel currency was established in 1980 based on the US Dollar. |
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