When it comes to sending money to Cambodia, you are more limited than you are when sending money to many other countries. This is not a reason to be pessimistic, as there are still easy and simple methods for sending money to Cambodia. We should note that for transfers to Cambodia, high fluctuations in currency exchange rates and petty crime for physical cash pickups will make it so the recipient should remain more vigilant.
The current exchange rate for the Cambodian Riel (KHR) is 4070.000351 KHR per American Dollar (USD) as of the time this was written. The KHR reached a high of 4,081.6988 KHR per USD and a low of 4,070.0004 KHR per USD during the last 90 days. The average exchange rate over the last 90 days was 4,073.3375 KHR per USD.
The KHR had an average volatility rate of 0.83% against the USD for the last 90 days. This is a high volatility rate, although the KHR has demonstrated far more grounded behavior during the last month. Going forward, you can reasonably expect moderate-high fluctuations to continue, barring any unforeseen circumstances.
The fastest way to send money to Cambodia is through Western Union’s fast option. With Western Union’s fast option, your money will usually reach its Cambodian destination in a matter of minutes. With Western Union, you do end up spending far more money, but you save a lot of time with their fast option. On the bright side, you do have far easier access to Western Union than you do to similar services in most areas. It is also a safe and widely trusted company.
The cheapest way to send money to Cambodia is through MoneyGram. MoneyGram generally offers competitive rates and well-rounded service. Keep in mind that they make far more money off of their hidden currency conversion fees than they do for stated, upfront fees.
If you don’t like MoneyGram, Xoom offers similar pricing and is easier for online transactions.
Western Union is the easiest way to send money to Cambodia. The company offers multiple means of sending money, and you can choose the best one to suit your needs. Cash pick up at a Western Union location is a common and very simple method of sending money. Western Union is ubiquitous and tailored to the needs of millions of people around the world, and they offer both old and modern methods for transferring money.
The overall best way to send money to Cambodia is through Western Union. Western Union is widely trusted and used for a reason. While it’s not the cheapest option available, Western Union is a well-rounded option and it’s easy to use too.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com