Giving speech at the 30th anniversary ceremony for the National Bank of Cambodia (NBC), which was reestablished after the topple of Khmer Rouge regime, the Prime Minister Hun said that despite Cambodia suffered from the global financial crisis, Cambodia’s foreign exchange reserves is up to US$2.522 billion by the end of August of this year.
“Today, the banking industry is growing both in scope and operations, attracting large foreign banks to open, and the amount of deposits and loans have consistently increased – this reflects confidence from the public in this industry,” he said, encouraging banks to list on the long-awaited Cambodian stock exchange, according to the Phnom Penh Post.
The premier also said that Foreign exchange reserves had climbed 21.48 percent so far this year.
International Monetary Fund (IMF) data shows that reserves reached a record high of $2.594 billion in May after climbing steadily at the beginning of the year from $2.076 billion at the end of 2008, the Post quoted Hun Sen as saying.
Popularity: 4% [?]
