Tag: foreign exchange
North Korea’s soaring exchange rates crush small merchants while enriching the...
Small-scale merchants in North Korean markets who conduct business in local currency say life has become "exhausting" as the country's internal exchange rates have...
Rice and fuel prices soar in N. Korea as won weakens...
North Korean market prices remain high after spiking earlier this month. With market exchange rates staying elevated, import prices are soaring.
According to Daily NK's...
N. Korea shutters exchange centers amid currency crisis
Foreign currency service centers installed near markets and foreign-currency shops in North Korea are being consolidated. The move appears to be driven by the...
N. Korean exchange rates hit record highs
North Korean market prices have surged across the board after briefly appearing to stabilize. Rice prices in North Korean markets have broken into the...
Grain prices soar in N. Korea as won-dollar rate crosses 24,000
North Korean market prices are soaring again, with both grain prices and foreign exchange rates hitting record highs and driving continued volatility.
According to Daily...
N. Korea expands currency exchange beyond dollar, yuan
Pyongyang's official currency exchanges are expanding beyond the dollar and yuan to handle yen, euros and rubles as North Korea diversifies its trade relationships.
A...
Wonsan-Kalma facilities must register foreign currency payment systems
North Korea has ordered all commercial facilities in the Wonsan-Kalma Coastal Tourist Zone to register their electronic foreign currency payment systems by May 14.
The...
N. Korean grain prices surge to near-record levels after brief dip
North Korean grain prices are climbing again after a brief lull earlier this month, according to market data.
Rice sold for 9,500 North Korean won...
N. Korea expands foreign currency payments through smartphone apps
North Korean smartphones are processing more payments in foreign currencies, and an increasing number of businesses are now required to offer electronic payment systems,...
Wage hikes widen N. Korean income gap 18 months after reform
A year and a half has passed since the North Korean cabinet issued a directive to "increase statutory wages paid monthly to workers in...
