{"id":63699,"date":"2025-06-09T08:05:02","date_gmt":"2025-06-08T23:05:02","guid":{"rendered":"https:\/\/www.dailynk.com\/english\/?p=63699"},"modified":"2026-04-06T14:11:42","modified_gmt":"2026-04-06T05:11:42","slug":"north-korea-expands-currency-exchange-beyond-dollar-yuan","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/north-korea-expands-currency-exchange-beyond-dollar-yuan\/","title":{"rendered":"N. Korea expands currency exchange beyond dollar, yuan"},"content":{"rendered":"<div data-test-render-count=\"1\">\n<div>\n<div class=\"group relative -tracking-[0.015em] pb-3\" data-is-streaming=\"false\">\n<div class=\"font-claude-message relative leading-[1.65rem] [&amp;_pre&gt;div]:bg-bg-000\/50 [&amp;_pre&gt;div]:border-0.5 [&amp;_pre&gt;div]:border-border-400 [&amp;_.ignore-pre-bg&gt;div]:bg-transparent [&amp;&gt;div&gt;div&gt;:is(p,blockquote,h1,h2,h3,h4,h5,h6)]:pl-2 [&amp;&gt;div&gt;div&gt;:is(p,blockquote,ul,ol,h1,h2,h3,h4,h5,h6)]:pr-8\">\n<div>\n<div class=\"grid-cols-1 grid gap-2.5 [&amp;_&gt;_*]:min-w-0\">\n<p class=\"whitespace-normal break-words\">Pyongyang&#8217;s official currency exchanges are expanding beyond the dollar and yuan to handle yen, euros and rubles as North Korea diversifies its trade relationships.<\/p>\n<p class=\"whitespace-normal break-words\">A Daily NK source in Pyongyang said recently that official exchange offices in central districts handle various foreign currencies, with yen and euro exchange frequency increasing significantly in recent months.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"whitespace-normal break-words\">Among yen, euros and rubles, demand for Japanese yen has grown most noticeably.<\/p>\n<p class=\"whitespace-normal break-words\">&#8220;Yen demand has increased as more Japanese products flow in,&#8221; the source said. &#8220;Of course, they don&#8217;t come directly from Japan but through China, but more diverse Japanese goods are being imported than before.&#8221;<\/p>\n<p class=\"whitespace-normal break-words\">North Korean trade workers primarily import Japanese electronics and used cars, according to reports.<\/p>\n<p class=\"whitespace-normal break-words\">Euro demand has also risen as imports of European-made automobiles, furniture and luxury goods have increased, the source said.<\/p>\n<p class=\"whitespace-normal break-words\">Ruble demand remains relatively low. While small amounts of rubles can be exchanged for North Korean currency, some exchange offices don&#8217;t handle rubles at all due to limited demand compared to yen or euros.<\/p>\n<p class=\"whitespace-normal break-words\">Despite expanding North Korea-Russia trade ties, transactions are primarily settled in dollars rather than rubles, and most deals involve barter trade, keeping ruble demand low in Pyongyang.<\/p>\n<h4 class=\"text-xl font-bold text-text-100 mt-1 -mb-0.5\"><em>Daily exchange rate updates continue<\/em><\/h4>\n<p class=\"whitespace-normal break-words\">North Korean authorities continue issuing official exchange rates once daily. In March, Daily NK reported that authorities announce floating exchange rates around 10 a.m. daily through national State Foreign Exchange Service offices and Cooperative Currency Exchanges nationwide.<\/p>\n<p class=\"whitespace-normal break-words\">These rate announcements include yen and euros. On May 19, one official exchange office in Pyongyang&#8217;s Jung district posted rates of 18,200 North Korean won per dollar, 2,400 won per yuan, 12,600 won per 100 yen and 21,500 won per euro.<\/p>\n<p class=\"whitespace-normal break-words\">Converting these rates to dollar values shows a dollar-yuan rate of 7.58, euro-dollar rate of 1.18 and dollar-yen rate of 144.44 \u2014 levels similar to international markets.<\/p>\n<p class=\"whitespace-normal break-words\">However, exchange offices nationwide don&#8217;t post uniform rates. Regional banks set rates autonomously within certain parameters based on local market conditions and foreign currency reserves.<\/p>\n<p class=\"whitespace-normal break-words\">On May 19, an official exchange office in Kangdong county on Pyongyang&#8217;s outskirts posted rates of 17,800 won per dollar, 2,600 won per yuan, 12,100 won per 100 yen and 20,800 won per euro \u2014 slightly different from the Jung district office.<\/p>\n<p class=\"whitespace-normal break-words\">&#8220;Kangdong county produces coal, so there&#8217;s more buying and selling of dollars and yuan than North Korean money,&#8221; the source said. &#8220;Dollar and yuan demand varies depending on which agency handles coal exports, and rates are set considering these situations.&#8221;<\/p>\n<p class=\"whitespace-normal break-words\">While authorities post daily floating rates similar to market levels to encourage use of official exchanges, gaps between market and official rates can reach 25%.<\/p>\n<p class=\"whitespace-normal break-words\">On May 19, market rates near Jung district were 21,000 won per dollar, 3,000 won per yuan, 14,800 won per 100 yen and 24,900 won per euro. Compared to official exchange rates, informal market rates were 15.4% higher for dollars, 25% for yuan, 17.5% for yen and 15% for euros.<\/p>\n<p class=\"whitespace-normal break-words\">Since market rates offer better value than official rates, people exchanging foreign currency for North Korean money still prefer private money changers over official exchange offices.<\/p>\n<p><a href=\"https:\/\/www.dailynk.com\/20250609-1\/\">Read in Korean<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pyongyang&#8217;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 Daily NK source in Pyongyang said recently that official exchange offices in central districts handle various foreign currencies, with yen and euro exchange frequency increasing significantly in recent months. Among [&hellip;]<\/p>\n","protected":false},"author":128,"featured_media":39438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[67,645],"tags":[100,714,735,925,930,1499,1679],"class_list":["post-63699","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-economy","tag-markets","tag-economy","tag-trade","tag-electronics","tag-foreign-currency","tag-japan","tag-chinese-yuan"],"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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