{"id":64940,"date":"2025-09-17T13:50:15","date_gmt":"2025-09-17T04:50:15","guid":{"rendered":"https:\/\/www.dailynk.com\/english\/?p=64940"},"modified":"2026-04-05T15:39:53","modified_gmt":"2026-04-05T06:39:53","slug":"fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\/","title":{"rendered":"Fake dollars and yuan flood North Korean markets amid exchange rate surge"},"content":{"rendered":"<p class=\"whitespace-normal break-words\">Counterfeit foreign currency is flooding North Korean markets as the country&#8217;s exchange rates skyrocket and the local currency collapses, prompting authorities to launch an urgent crackdown.<\/p>\n<p class=\"whitespace-normal break-words\">Banks, police departments, neighborhood offices and markets throughout the country received orders early this month on how to handle fake money, according to a Daily NK source in Pyongyang recently.<\/p>\n<p class=\"whitespace-normal break-words\">The order, titled &#8220;How to Dispose of Counterfeit Cash When Discovered,&#8221; directed banks to immediately confiscate counterfeit money, record the time and location of its discovery, identify the individual holding it, provide a confiscation receipt, and notify local security authorities.<\/p>\n<p class=\"whitespace-normal break-words\">While authorities didn&#8217;t specify whether the order covered foreign currency or North Korean won, Daily NK believes that the fake money currently circulating in markets is counterfeit U.S. dollars and Chinese yuan.<\/p>\n<p class=\"whitespace-normal break-words\">The directive reminded banks, official money changers and other agencies handling foreign currency transactions about rules for dealing with counterfeit money when discovered.<\/p>\n<h4 class=\"text-xl font-bold text-text-100 mt-1 -mb-0.5\"><strong>Citizens must surrender fake money without question<\/strong><\/h4>\n<p class=\"whitespace-normal break-words\">Under the new rules, anyone caught with counterfeit cash must immediately hand it over to banking officials once it&#8217;s confirmed as fake, regardless of how they obtained it, and must accept a confiscation receipt.<\/p>\n<p class=\"whitespace-normal break-words\">When banks discover counterfeit currency, they enter details about the money and the person carrying it into an electronic system. This information is shared through North Korea&#8217;s internal network with local people&#8217;s committees and police, who use it to investigate counterfeiters and distribution networks.<\/p>\n<p class=\"whitespace-normal break-words\">The confiscation receipts are rectangular, similar in size to banknotes, and printed in light pink. A perforated line divides the paper in half\u2014the bank keeps one portion and the person who had the fake money keeps the other. Each receipt has a serial number showing which bank issued it and in what sequence.<\/p>\n<p class=\"whitespace-normal break-words\">Notably, the order didn&#8217;t specify punishments for people caught with counterfeit money, suggesting authorities want to encourage voluntary reporting rather than prosecute holders.<\/p>\n<p class=\"whitespace-normal break-words\">The crackdown comes as counterfeit dollars and yuan have spread widely through North Korean markets following dramatic currency fluctuations. According to Daily NK&#8217;s regular market surveys, exchange rates spiked dramatically between June and mid-August.<\/p>\n<p class=\"whitespace-normal break-words\">The dollar exchange rate jumped from 27,500 North Korean won in June to 43,000 won by mid-August\u2014a 56% increase. The Chinese yuan rate similarly surged from 3,800 won to 5,600 won over the same period, representing a 47% spike.<\/p>\n<p class=\"whitespace-normal break-words\">These dramatic currency swings have created conditions ripe for counterfeiters to exploit, as people desperately seek stable foreign currency while the local won loses value rapidly.<\/p>\n<p><a href=\"https:\/\/www.dailynk.com\/20250912-6\/\">Read in Korean<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Counterfeit foreign currency is flooding North Korean markets as the country&#8217;s exchange rates skyrocket and the local currency collapses, prompting authorities to launch an urgent crackdown. Banks, police departments, neighborhood offices and markets throughout the country received orders early this month on how to handle fake money, according to a Daily NK source in Pyongyang [&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":[100,274,714,930,1124,1589,1679],"class_list":["post-64940","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-economy","tag-markets","tag-pyongyang","tag-economy","tag-foreign-currency","tag-crackdowns","tag-banking","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>Fake dollars and yuan flood North Korean markets amid exchange rate surge - 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\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fake dollars and yuan flood North Korean markets amid exchange rate surge\" \/>\n<meta property=\"og:description\" content=\"Counterfeit foreign currency is flooding North Korean markets as the country&#8217;s exchange rates skyrocket and the local currency collapses, prompting authorities to launch an urgent crackdown. Banks, police departments, neighborhood offices and markets throughout the country received orders early this month on how to handle fake money, according to a Daily NK source in Pyongyang [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailynk.com\/english\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\/\" \/>\n<meta property=\"og:site_name\" content=\"North Korea News \u2014 Daily NK | Latest DPRK Updates 2026\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-17T04:50:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-05T06:39:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/01\/\ubd81\ud55c\uc2e0\uad8c\ubd80\ucc44\uaf34-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/\"},\"author\":{\"name\":\"Seulkee Jang\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/#\\\/schema\\\/person\\\/194958ce83d17408851c1d378fa83857\"},\"headline\":\"Fake dollars and yuan flood North Korean markets amid exchange rate surge\",\"datePublished\":\"2025-09-17T04:50:15+00:00\",\"dateModified\":\"2026-04-05T06:39:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/\"},\"wordCount\":430,\"publisher\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/01\\\/\ubd81\ud55c\uc2e0\uad8c\ubd80\ucc44\uaf34-1.jpg\",\"keywords\":[\"markets\",\"pyongyang\",\"economy\",\"foreign currency\",\"crackdowns\",\"banking\",\"chinese yuan\"],\"articleSection\":[\"News\",\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/\",\"url\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/\",\"name\":\"Fake dollars and yuan flood North Korean markets amid exchange rate surge - North Korea News \u2014 Daily NK | Latest DPRK Updates 2026\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/01\\\/\ubd81\ud55c\uc2e0\uad8c\ubd80\ucc44\uaf34-1.jpg\",\"datePublished\":\"2025-09-17T04:50:15+00:00\",\"dateModified\":\"2026-04-05T06:39:53+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/fake-dollars-and-yuan-flood-north-korean-markets-amid-exchange-rate-surge\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/01\\\/\ubd81\ud55c\uc2e0\uad8c\ubd80\ucc44\uaf34-1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/01\\\/\ubd81\ud55c\uc2e0\uad8c\ubd80\ucc44\uaf34-1.jpg\",\"width\":1200,\"height\":720,\"caption\":\"FILE PHOTO: North Korean currency. 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