Tag: chinese yuan
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...
North Korean food prices soar as currency crisis deepens
North Korean food prices have hit record highs, deepening hardship across the country.
According to Daily NK's regular market survey, rice prices exceeded 8,000 North...
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...
Market shock as North Korean won-dollar rate breaks records
North Korea's market exchange rates have soared to unprecedented levels. After stabilizing for two months following a peak in early September, the US dollar...
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,...
Despite UN ban, North Korea dispatches around 150 laborers to China
North Korea sent about 150 laborers to Jilin province, China, in early October in defiance of U.N. sanctions that prohibit sending workers overseas. Most...
