The Riel's Quiet Strength: What Exchange-Rate Stability Really Tells Investors

The analysis in brief

The riel holds steady against the dollar because the National Bank of Cambodia manages it in a narrow band, backed by reserves. This analysis reads the stability as a policy choice, not a market verdict: currency risk is concentrated in rare policy moves, defending the band has a cost in reserves and riel lending, and the full text explains who gains, who pays, and what could change it.