Central Banking

North Korea drastically revalues currency


North Korea is revaluing its currency, knocking two zeroes off its existing banknotes in a process that began on Tuesday, according to a large number of sources.

Yonhap, a South Korean news wire; Reuters, a news wire; and Daily NK, a news website, all reported that the currency reforms had been announced on Monday through the state-run cable broadcast system. North Koreans will have until Sunday to convert their existing won holdings at a ratio of 100:1, such that an existing Won 1,000 banknote

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: