Tag: chinese yuan
N. Koreans abandon won as currency redenomination fears spread
Amid persistent rumors of currency redenomination, North Koreans are increasingly shunning the domestic won in favor of foreign currencies. This growing distrust is accelerating...
In N. Korea’s Hoeryong, private truckers struggle with rising tire expenses
Truck drivers in the North Korean city of Hoeryong are traveling to Chongjin for tire purchases. Despite steep prices, drivers are willing to take...
N. Korean markets hit new peaks as yuan and rice prices...
Market prices in North Korea are rising at an unprecedented rate, with rice costs and Chinese yuan exchange rates reaching record highs.
Daily NK's market...
N. Korea’s currency crisis forces return to barter economy
The North Korean won has plunged in value, driving exchange rates for U.S. dollars and Chinese yuan to record highs. In response, North Koreans...
N. Korean won-dollar rate stabilizes while won-yuan continues climb
The soaring won-dollar exchange rate at marketplaces in North Korea appears to have paused, at least for the moment. But the won-yuan market exchange...
N. Korea’s failed whistleblower system: Informants left unprotected
North Korea's Public Reporting System Law encourages overseas workers to report their colleagues' illegal activities, but the system has proven ineffective due to inadequate...
Currency crisis drives North Koreans to dollar, yuan
The North Korean won has lost half its value against the dollar and yuan this year, driving more citizens to conduct marketplace transactions in...
Chongjin drivers face growing police shakedowns
Traffic police in Chongjin, North Hamgyong province, are increasingly extorting bribes from taxi and motorcycle drivers. Drivers report feeling distressed as officers demand payments...
N. Korean youth drive demand for smuggled Chinese coats
Chinese-made padded coats are selling rapidly in markets in Hyesan, according to a source in Ryanggang province recently.
The source said that Chinese winter coats...
N. Korea’s anti-socialist watchdog faces internal probe over currency control failures
North Korea's Unified Command 82, tasked with policing anti-socialist behavior, has launched an internal investigation into its own currency stabilization efforts. On Oct. 20,...
