{"id":51857,"date":"2022-06-03T11:00:12","date_gmt":"2022-06-03T02:00:12","guid":{"rendered":"https:\/\/www.dailynk.com\/english\/?p=51857"},"modified":"2026-04-06T14:11:09","modified_gmt":"2026-04-06T05:11:09","slug":"north-korean-won-weakens-more-than-10-against-dollar-over-past-two-weeks","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/north-korean-won-weakens-more-than-10-against-dollar-over-past-two-weeks\/","title":{"rendered":"N. Korean won weakens more than 10% against the dollar over the past two weeks"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The North Korean won has weakened over 10% against the dollar during the last two weeks. This comes after repeated fluctuations from the start of the year following the start of China-North Korea freight train service, which later declined and then was suspended altogether.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, grain prices have fallen across the board after climbing since January.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Daily NK\u2019s regular survey of North Korean prices determined that as of Monday, the dollar was trading at KPW 7,300 in Pyongyang. This represents an 11% climb from May 16, just half a month ago, when the dollar was trading at KPW 6,560.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The dollar strengthened in Sinuiju and Hyesan, too. The greenback was trading at KPW 7,350 in Sinuiju and KPW 7,260 in Hyesan, about 10-11% more than it was on May 16.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, the yuan slightly weakened against the won. The yuan was trading at KPW 810 in Pyongyang and KPW 830 in Sinuiju and Hyesan on Monday, holding steady or trading 1-2% less than in the previous survey.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The differences apparently reflect international prices, including the recent strengthening of the dollar and weakening of the yuan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a telephone conversation with Daily NK, Mun Sung Min, a research associate with the North Korean Economy Team of the Bank of Korea\u2019s Economic Research Institute in Seoul, said international exchange rates are generally reflected in North Korea. \u201cAs recently as early last month, the dollar was clearly strengthening while the yuan was clearly weakening, and these trends may have impacted North Korean markets, too,\u201d he said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, since the middle of last month, the dollar appears to be weakening while the yuan has begun strengthening in international markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding this trend, Mun said while international prices are reflected in North Korea, \u201cthe North Korean market could respond a bit late because the market is inefficient and information moves slowly.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the price of rice, corn and other grains fell across the board after climbing from the start of the year. As of Monday, a kilogram of rice in the market cost KPW 5,000 in Pyongyang, KPW 5,200 in Sinuiju and KPW 5,300 in Hyesan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Basically, prices fell KPW 300 to 400 from May 16, when grain cost KPW 5,400 in Pyongyang, KPW 5,600 in Sinuiju and KPW 5,640 in Hyesan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Corn fell slightly, too. A kilogram of corn cost KPW 2,600 in Pyongyang, KPW 2,700 in Sinuiju and KPW 2,800 in Hyesan, about KPW 150 to 240 less than it did in the last survey.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The falling rice and corn prices in North Korean markets despite continued regional lockdowns and controls in the wake of COVID-19 appear due to the availability of alternative foodstuffs as farmers begin harvesting potatoes and other grains.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;Potatoes and barley are ready to be harvested in some regions and, nationwide, the harvest will soon begin in earnest, which appears to have led fewer people to seek out rice or corn,&#8221; a Daily NK source in North Korea said, adding, &#8220;It&#8217;s not because there were government distributions of food.&#8221;<\/span><\/p>\n<p><em><strong>Translated by David Black. Edited by Robert Lauler.<\/strong><\/em><\/p>\n<p><em>Please direct any comments or questions about this article to dailynkenglish@uni-media.net.<\/em><\/p>\n<p><a href=\"https:\/\/www.dailynk.com\/20220602-1\/\"><em>Read in Korean<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The North Korean won has weakened over 10% against the dollar during the last two weeks. This comes after repeated fluctuations from the start of the year following the start of China-North Korea freight train service, which later declined and then was suspended altogether. Meanwhile, grain prices have fallen across the board after climbing since [&hellip;]<\/p>\n","protected":false},"author":128,"featured_media":51858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[67,645],"tags":[714,930],"class_list":["post-51857","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-economy","tag-economy","tag-foreign-currency"],"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>N. 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