| 10-03-02 ~ 10-03-08 |
2300 (■ 0) |
2500 (■ 0) |
2350 (■ 0) |
1300 (▲ 350) |
1100 (▲ 100) |
1450 (▲ 250) |
|
| As the story that Kim Young Il, the Premier of the North Korea Cabinet, had acknowledged the failure of the redenomination spread, wholesalers who were holding rice in stock would not release it onto the market. Therefore prices went up for sellers and buyers alike. Since the redenomination the value of North Korean won has been steadily depreciating, and the tendency to keep savings in products instead of monetary holdings has been spreading across the country. |
|
|
|
| 10-02-25 ~ 10-03-03 |
2300 (▲ 1800) |
2500 (▲ 1990) |
2350 (▲ 1835) |
950 (▲ 480) |
1000 (▲ 550) |
1200 (▲ 750) |
| 10-02-17 ~ 10-02-23 |
500 (▲ 105) |
510 (▲ 110) |
515 (▲ 110) |
470 (▲ 100) |
450 (▲ 100) |
450 (▲ 90) |
|
| After the crackdown on the jangmadang was lifted, rice prices and exchange rates dropped, but now they are going up again. This is, of course, because the value of products and foreign currencies continues to rise relative to the value of the North Korean currency. |
|
|
|
| 10-02-02 ~ 10-02-08 |
395 (▲ 180) |
400 (▲ 183) |
405 (▲ 185) |
370 (▲ 160) |
350 (▲ 160) |
360 (▲ 160) |
|
| Since the redenomination, due to jangmadang regulations and a ban on the use of foreign currencies, rice prices and exchange rates had been rising relentlessly. However, on February 1, jangmadang regulations were lifted, and rice prices of more than 400 won dropped to around 350 won. |
|
|
|
| 10-01-08 ~ 10-01-14 |
215 (▲ 95) |
217 (▲ 95) |
220 (▲ 90) |
210 (▲ 90) |
190 (▲ 90) |
200 (▲ 100) |
|
| Exchange rates and the price of rice are rising dramatically after the closure of the jangmadang and decrees prohibiting both food circulation and foreign currency usage, along with the distribution of excessive cash to farmers. Farmers feel no need to sell rice stocks right now since they can purchase food and have cash savings. Therefore, they are holding onto their rice stocks to see how high the price will go. |
|
|
|
| 10-01-05 ~ 10-01-06 |
120 (▼ 14) |
122 (▼ 8) |
130 (▼ 3) |
120 (▲ 65) |
100 (▲ 47) |
100 (▲ 40) |
| 09-12-30 ~ 10-01-04 |
134 |
130 |
133 |
55 (▲ 11) |
53 (▲ 7) |
60 (▲ 16) |
|
| The authorities released a measure banning the people from using foreign currency on December 28, and thereafter the informal jangmadang currency exchange rate, which had been around 35 won in the new denominations, rose four-fold to 133 won, while the formal exchange rate continued to be publicized as 1.1 won to the dollar. Rice prices are rising in inland regions, so the people are concerned about food shortages. |
|
|
|
| 09-12-09 ~ 09-12-15 |
0 (▼ 3845) |
0 (▼ 3840) |
0 (▼ 3845) |
44 (▼ 2156) |
46 (▼ 2154) |
44 (▼ 2256) |
|
| The North Korean authorities have yet to announce the state-designated rice price, only implying that the price is approximately the same as that which followed the July 1st Economic Management Reform Measure in 2002. Some organizations claim that the state price is around 20 won, but this has not been confirmed.
Procurement stores are allegedly selling rice at 20 won/kg but these stores do not have much rice so it is insignificant. Currently rice is being traded at between 40-50 won/kg on the black market. |
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 Most
Popular |
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10.03.08 |
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|
|
| |
2,300 |
2,500 |
2,350 |
| |
1,300 |
1,100 |
1,450 |
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