Chea Serey, governor of the National Bank of Cambodia (NBC), has noted that Cambodia’s economic situation in 2025 remained positive, as the Kingdom was able to maintain exchange rate stability and keep inflation at a low level, while a series of measures were introduced to address several major challenges.
She shared the welcome news during a meeting with an International Monetary Fund (IMF) team, led by Kenichiro Kashiwase, at the NBC offices near Wat Phnom, on March 5.
Serey briefed Kashiwase on Cambodia’s economic and financial sector situation in 2025. During 2025, the NBC introduced several new measures aimed at addressing key challenges such as issues arising from the Cambodia–Thailand border tensions, cyber fraud and the liquidation process for banking institutions, in accordance with the laws of the Kingdom of Cambodia.
Kashiwase explained that the purpose of his team’s visit was to review the progress of Cambodia’s financial sector and to demonstrate the IMF’s support in helping develop the banking sector, including providing technical assistance, scholarships and training programmes to further strengthen the capacity of Cambodian officials.
The NBC’s 2025 Annual Report showed that overall inflation in 2025 rose to 2.5%, after dropping to a decade-low 0.8% in 2024. The increase was mainly due to a low base of comparison and rising food prices in early 2025, while the continued decline in global crude oil prices helped ease inflationary pressure.
At the same time, the exchange rate of the riel against the US dollar remained stable in 2025, and even appreciated slightly, with an average rate of 4,011 riel per US dollar, compared to the 4,071 recorded in 2024.
This appreciation was mainly supported by rising demand for the local currency in daily transactions, increased agricultural production and the growth of electronic payments conducted in riel.
“Cambodia’s economy continued to grow, although due to external challenges, at a slower pace than in previous years. Inflation remained low and manageable, while the riel maintained strong stability with a slight appreciation trend. Meanwhile, international reserves continued to accumulate steadily, strengthening resilience and investor confidence in Cambodia’s economy,” said the report.
“The banking system continued to support economic activities despite facing ongoing challenges,” it added.
