[Khmer Times]: The National Bank of Cambodia (NBC) has reported continued strength in the Kingdom’s monetary and financial position, with net foreign assets (NFAs) reaching 104,364 billion riel (around $25.5 billion) in May 2026, according to its latest survey.

In a survey put out on NBC’s official website on June 30, the ‘Central Bank Survey’ highlighted robust growth in NFA, a stable monetary base, and prudent coordination between fiscal and monetary authorities amid a complex global environment.

According to the Monetary and Financial Statistics (MFS) compiled by the NBC’s statistics department, net foreign assets reached 104,364 billion riels at the end of May, equivalent to approximately $25.5 billion at prevailing exchange rates.

The figure reflected the central bank’s strong external position, supported by accumulated reserves from export performance, a gradual tourism recovery and continued foreign investment inflows.

The survey follows the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG) of the International Monetary Fund (IMF), ensuring international comparability and providing a comprehensive snapshot of the NBC’s balance sheet and its financial linkages with the broader economy.

Net foreign assets, defined as claims on non-residents minus liabilities to non-residents, have remained on a steady upward trajectory. Over the past 12 months, the indicator expanded by around 6.3 percent, extending a multi-year growth trend.

Claims on non-residents stood at around 105,759 billion riels (approximately $26.4 billion), representing external assets held by the central bank abroad, while liabilities remained contained.

The strong external position continued to serve as a key buffer for the economy, supporting exchange rate stability, reinforcing confidence in the dual-currency system, and helping shield the economy from external shocks such as commodity price volatility and geopolitical tensions.

NBC’s active management of foreign assets has played a key role in maintaining macroeconomic stability amid shifting global interest rates and trade conditions, supporting exchange rate stability, investor confidence and overall resilience of the economic climate.

The monetary base, comprising currency in circulation and reserves held by other depository corporations at NBC, rose to 61,469 billion riels, an equivalent of $15.4 billion in May 2026.

Currency in circulation continued to expand in line with economic activity, reflecting stronger demand for both riel and US dollar cash amid rising consumption and business transactions.

The expansion of the monetary base supports broader money supply growth and facilitates credit expansion to the private sector. However, the NBC continues to stress careful liquidity management to prevent inflationary pressures, as the monetary base remains a key driver of the money multiplier process in the financial system.