The third and current incarnation of the DPRK won was brought about as a result of a 2009 revaluation of the currency. This value was removed during 2001.ĭuring 2002 the use of foreign won currency was officially nullified, with the government making a decision that all foreign visitors would use foreign currency. This value was chosen as 2.16 represents the 16 th of February, the birthday of Kim Jong Il. The second incarnation of the DPRK won was to be pegged to the US value of 2.16 won to the dollar. This was not dissimilar to pre-reform China, which had a similar system up until the 1990s. The currency for those from socialist nations would use red notes, and those from capitalist countries were to use green and blue notes. However, this would be divided depending if you’re a visitor from a socialist or a capitalist country. Any foreigner visiting the country would be given another form of the currency to use. North Korean Currency – first issue of the Won (KPW)ĭuring the first incarnation the DPRK won it was intended that only local North Koreans would use the local currency. Since the inception of the won there have been three incarnations in total. The official currency is known in Korean as: 조선민주주의인민공화국 원 or ₩. The KPW was made the official currency of North Korea on December 6th 1947, when it replaced the Korean Yen that was in circulation during the Japanese occupation of Korea during World War II. The official currency of the DPRK is the North Korean Won, with the currency code being KPW. What is the North Korea currency? – The DPRK Won This truly leaves North Korean currency as one of the most unique left on the planet! Cuba previously announced unifying of its currencies. Let us guide you through the full understanding on how spending North Korean money works. Much like the two currencies of Cuba, the North Korean currency is a complicated topic.
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