{"id":47213,"date":"2020-12-18T11:08:04","date_gmt":"2020-12-18T02:08:04","guid":{"rendered":"https:\/\/www.dailynk.com\/english\/?p=47213"},"modified":"2026-04-05T15:39:57","modified_gmt":"2026-04-05T06:39:57","slug":"north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\/","title":{"rendered":"North Korea&#8217;s won-to-dollar exchange rate shows signs of modest recovery"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">North Korean exchange rates are reportedly showing signs of a modest recovery. After dropping about 20% in early November and subsequently fluctuating, the North Korean won-to-dollar exchange rate has been strengthening since late November.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to a Daily NK source in North Korea, the won-to-dollar rate as of Monday was KPW 7,100 in Pyongyang, KPW 7,050 in Sinuiju and KPW 7,150 in Hyesan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Compared to what it was on Nov. 28 &#8211; KPW 6,500 in Pyongyang, KPW 6,380 in Sinuiju and KPW 6,540 in Hyesan &#8211; the dollar appears to have strengthened by about 10% over the course of half a month.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of Dec. 14, the RMB was trading at KPW 890 in Pyongyang, KPW 880 in Sinuiju and KPW 880 in Hyesan. It appears to have stayed in the KPW 800 range since falling from the KPW 1,100 range in mid-October all the way down to KPW 840 in late November.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Daily NK has not found any signs that North Korean authorities have implemented any exchange rate-related measures.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nor has there been any unusual activity by Group 1118, which roams markets and other gathering places to crack down on illegal financial transactions.<\/span><\/p>\n<figure id=\"attachment_40626\" aria-describedby=\"caption-attachment-40626\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-40626\" src=\"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-\u1107\u116e\u11a8\u1102\u1169\u11bc\u110e\u1169\u11ab_1-\u110c\u1161\u110c\u1165\u11ab\u1100\u1165-\u1109\u1169_\u1103\u1161\u11af\u1100\u116e\u110c\u1175-\u1109\u1161\u11af\u1105\u1175\u11b7\u110c\u1175\u11b8-\u1109\u116e\u11ab\u110e\u1165\u11ab-\u1100\u116a\u11ab\u1105\u1175\u110b\u116f\u11ab-1.jpg\" alt=\"Market official on patrol in Sunchon, South Pyongan Province\" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-\u1107\u116e\u11a8\u1102\u1169\u11bc\u110e\u1169\u11ab_1-\u110c\u1161\u110c\u1165\u11ab\u1100\u1165-\u1109\u1169_\u1103\u1161\u11af\u1100\u116e\u110c\u1175-\u1109\u1161\u11af\u1105\u1175\u11b7\u110c\u1175\u11b8-\u1109\u116e\u11ab\u110e\u1165\u11ab-\u1100\u116a\u11ab\u1105\u1175\u110b\u116f\u11ab-1.jpg 1200w, https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-\u1107\u116e\u11a8\u1102\u1169\u11bc\u110e\u1169\u11ab_1-\u110c\u1161\u110c\u1165\u11ab\u1100\u1165-\u1109\u1169_\u1103\u1161\u11af\u1100\u116e\u110c\u1175-\u1109\u1161\u11af\u1105\u1175\u11b7\u110c\u1175\u11b8-\u1109\u116e\u11ab\u110e\u1165\u11ab-\u1100\u116a\u11ab\u1105\u1175\u110b\u116f\u11ab-1-300x200.jpg 300w, https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-\u1107\u116e\u11a8\u1102\u1169\u11bc\u110e\u1169\u11ab_1-\u110c\u1161\u110c\u1165\u11ab\u1100\u1165-\u1109\u1169_\u1103\u1161\u11af\u1100\u116e\u110c\u1175-\u1109\u1161\u11af\u1105\u1175\u11b7\u110c\u1175\u11b8-\u1109\u116e\u11ab\u110e\u1165\u11ab-\u1100\u116a\u11ab\u1105\u1175\u110b\u116f\u11ab-1-768x512.jpg 768w, https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-\u1107\u116e\u11a8\u1102\u1169\u11bc\u110e\u1169\u11ab_1-\u110c\u1161\u110c\u1165\u11ab\u1100\u1165-\u1109\u1169_\u1103\u1161\u11af\u1100\u116e\u110c\u1175-\u1109\u1161\u11af\u1105\u1175\u11b7\u110c\u1175\u11b8-\u1109\u116e\u11ab\u110e\u1165\u11ab-\u1100\u116a\u11ab\u1105\u1175\u110b\u116f\u11ab-1-1024x683.jpg 1024w, https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-\u1107\u116e\u11a8\u1102\u1169\u11bc\u110e\u1169\u11ab_1-\u110c\u1161\u110c\u1165\u11ab\u1100\u1165-\u1109\u1169_\u1103\u1161\u11af\u1100\u116e\u110c\u1175-\u1109\u1161\u11af\u1105\u1175\u11b7\u110c\u1175\u11b8-\u1109\u116e\u11ab\u110e\u1165\u11ab-\u1100\u116a\u11ab\u1105\u1175\u110b\u116f\u11ab-1-696x464.jpg 696w, https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-\u1107\u116e\u11a8\u1102\u1169\u11bc\u110e\u1169\u11ab_1-\u110c\u1161\u110c\u1165\u11ab\u1100\u1165-\u1109\u1169_\u1103\u1161\u11af\u1100\u116e\u110c\u1175-\u1109\u1161\u11af\u1105\u1175\u11b7\u110c\u1175\u11b8-\u1109\u116e\u11ab\u110e\u1165\u11ab-\u1100\u116a\u11ab\u1105\u1175\u110b\u116f\u11ab-1-1068x712.jpg 1068w, https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-\u1107\u116e\u11a8\u1102\u1169\u11bc\u110e\u1169\u11ab_1-\u110c\u1161\u110c\u1165\u11ab\u1100\u1165-\u1109\u1169_\u1103\u1161\u11af\u1100\u116e\u110c\u1175-\u1109\u1161\u11af\u1105\u1175\u11b7\u110c\u1175\u11b8-\u1109\u116e\u11ab\u110e\u1165\u11ab-\u1100\u116a\u11ab\u1105\u1175\u110b\u116f\u11ab-1-630x420.jpg 630w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-40626\" class=\"wp-caption-text\">In this undated photo, a market official can be seen on patrol in Sunchon, South Pyongan Province. \/ Image: Daily NK<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Daily NK sources have pointed out that the government\u2019s need to intentionally prop up currency markets may have dissipated with falling exchange rates, which has made it easier to acquire foreign currency.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">North Koreans with cash to spare are reportedly using the fall in exchange rates as an opportunity to buy foreign currency on the sly. A Daily NK source said, however, that they are buying relatively small amounts from trusted money changers because exchanging large amounts of cash could draw attention from the authorities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In some regions, rumors are going around that there was an increase in the number of people looking to buy dollars when the exchange rates fell. Based on these rumors, there is reportedly speculation that the growing number of people who want to acquire dollars has led to a modest recovery of the dollar in recent weeks.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cExchanging money may put you on the government\u2019s radar because there\u2019s nowhere to use foreign currency with the border closed,\u201d said the source. \u201cEver since the dollar rate fell, however, there are people who want to buy dollars &#8211; even just small amounts. So, the thinking is that an increase in demand for dollars will gradually lead to a rise in the exchange rate.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, rumors are reportedly circulating in North Korea that a money changer was executed in Pyongyang.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a report to the Intelligence Committee of South Korea\u2019s National Assembly in November, South Korea\u2019s National Intelligence Service said North Korean leader Kim Jong Un had recently ordered the execution of a bigwig Pyongyang money changer for his alleged involvement in the drastic fall in the exchange rate.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, multiple Daily NK sources in North Korea have said that the Pyongyang money changer\u2019s execution had nothing to do with the falling exchange rate. Rather, the money changer &#8211; who also engaged in trade &#8211; not only brought in imported items in violation of quarantine guidelines, but also got caught trying to inflate the price of goods in local markets. <\/span><\/p>\n<div class=\"td-post-header\"><em>Please direct any comments or questions about this article to dailynkenglish@uni-media.net.<\/em><\/div>\n<div><\/div>\n<div class=\"td-post-header\"><em><a href=\"https:\/\/www.dailynk.com\/%eb%b6%81%ed%95%9c-%ed%99%98%ec%9c%a8-%ec%86%8c%ed%8f%ad-%ec%83%81%ec%8a%b9%ec%84%b8-%eb%8b%ac%eb%9f%ac-%ec%8c%80-%eb%95%8c-%ec%82%ac-%eb%86%93%ec%9c%bc%eb%a0%a4%eb%8a%94-%ec%82%ac\/\">Read in Korean<\/a><\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>North Korean exchange rates are reportedly showing signs of a modest recovery. After dropping about 20% in early November and subsequently fluctuating, the North Korean won-to-dollar exchange rate has been strengthening since late November.\u00a0 According to a Daily NK source in North Korea, the won-to-dollar rate as of Monday was KPW 7,100 in Pyongyang, KPW [&hellip;]<\/p>\n","protected":false},"author":128,"featured_media":36538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[645,67],"tags":[714,100],"class_list":["post-47213","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","category-news","tag-economy","tag-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>North Korea&#039;s won-to-dollar exchange rate shows signs of modest recovery - North Korea News \u2014 Daily NK | Latest DPRK Updates 2026<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailynk.com\/english\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"North Korea&#039;s won-to-dollar exchange rate shows signs of modest recovery\" \/>\n<meta property=\"og:description\" content=\"North Korean exchange rates are reportedly showing signs of a modest recovery. After dropping about 20% in early November and subsequently fluctuating, the North Korean won-to-dollar exchange rate has been strengthening since late November.\u00a0 According to a Daily NK source in North Korea, the won-to-dollar rate as of Monday was KPW 7,100 in Pyongyang, KPW [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailynk.com\/english\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\/\" \/>\n<meta property=\"og:site_name\" content=\"North Korea News \u2014 Daily NK | Latest DPRK Updates 2026\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-18T02:08:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-05T06:39:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2018\/06\/\uae30\uc0ac-696x556-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"696\" \/>\n\t<meta property=\"og:image:height\" content=\"556\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Seulkee Jang\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Seulkee Jang\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\\\/\"},\"author\":{\"name\":\"Seulkee Jang\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/#\\\/schema\\\/person\\\/194958ce83d17408851c1d378fa83857\"},\"headline\":\"North Korea&#8217;s won-to-dollar exchange rate shows signs of modest recovery\",\"datePublished\":\"2020-12-18T02:08:04+00:00\",\"dateModified\":\"2026-04-05T06:39:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\\\/\"},\"wordCount\":569,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2018\\\/06\\\/\uae30\uc0ac-696x556-1.png\",\"keywords\":[\"economy\",\"markets\"],\"articleSection\":[\"Economy\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.dailynk.com\\\/english\\\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\\\/\",\"url\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/north-korea-won-to-dollar-exchange-rate-show-signs-modest-recovery\\\/\",\"name\":\"North Korea's won-to-dollar exchange rate shows signs of modest recovery - 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