Throughout the1980s, the National Bank of Democratic Kampuchea became the National Bank of Cambodia because Cambodia was more free and market-oriented. In the early 1990s, it was renamed the National Bank of Cambodia.
1992, the United Nations peacekeeping forces entered Cambodia, which caused great pressure on Cambodia's economy. Cambodia's riel depreciated, from 800 riel to 2000 riel 1 USD. The new 200 and 500 riel banknotes were put into circulation, and the new 50 riel banknotes replaced the 1980 Democratic Kampuchea red 50 riel banknotes.
Extended data:
The Development Course of Cambodian Currency
As the real value fluctuates every day, there is a real demand for high-value banknotes. Hun Sen prepared a batch of Russian-made 1000 riel banknotes and German-printed 2000 riel banknotes for distribution, and shipped them to Cambodia starting with 1993.
Afraid of aggravating the already serious inflation, Hun Sen decided not to issue these two currencies until he won the election supported by the United Nations in May of that year. However, due to funcinpec party's unexpected victory in the election, these banknotes never entered the circulation field. Bundles of banknotes flowed into Thailand and were bought by collectors all over the world.
In the years after the election, Cambodians had to shop with bags full of small bills until a series of currencies currently in use finally entered circulation. At that time, riel had fallen to nearly 3000 against the US dollar, and even a small transaction needed to carry a lot of money in a big bag.