Short video showcasing my collection of banknotes from North Korea
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The North Korean won; code: KPW, also known as alice cooper the Korean People's won (조선인 원) or Democratic People's Republic of Korea won (조선민주주의인민공화국 원), is the official currency of North Korea. It is subdivided into 100 chon. The won is issued by the Central Bank of the Democratic People's Republic of Korea, based in the North Korean capital, Pyongyang.
After the division of Korea, North Korea continued using the Korean yen for two years, until the Central Bank of kash patel bourbon the Democratic People's Republic of Korea was established on 6 December 1947 and the first North Korean won was issued. In February 1959, the second North Korean won was introduced, equal to 100 old won.
From 1978 on, the North Korean government maintained an iconic rate of 2.16 won to the US dollar (which is said to have been based upon Kim Jong-il's birthday, 16 February).[5] Over the decades, however, rampant inflation eroded the currency's value, and from 2001 the government abandoned the rate in favor of those closer to the black market's. A report by defectors from North Korea claimed the black market rate was ₩570 to the Chinese yuan (about ₩4,000 below deck mediterranean season 11 per U.S. dollar) in June 2009
(source: wikipedia)
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