Shenyang, China — The rice price in Shinuiju has been soaring. In late February it was less than 500 won per kilo, but by March 2 it was 800-900 won and by the afternoon of March 3 it had reached more than 1,000 won.
Compared to the level immediately after the redenomination, just 25 won, the price has increased by 40 times.
USD exchange rates have been going up alongside rice prices. Late last month, the average exchange rate was around 1,200 won to the dollar, but as of the 3rd it had reached 2,100-2,500 won.
A source from inside North Korea explained his belief, that the rice price “is returning to the level from before the redenomination; 2,500 won per kilogram.”
