US dollar drops by 20% in North Korea, signaling government market manipulation



News US dollar drops by 20% in North Korea, signaling government market manipulation Devaluation is latest policy apparently designed to decrease the volume of foreign currency in circulation Chad O'Carroll November 6, 2020 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Photo by Karolina Grabowska from Pexels The U.S. dollar took another big hit in North Korea and dropped by about 20% in market value, several sources told NK News. However, there are conflicting reports about when exactly this happened. In recent weeks, the market value of the U.S. dollar dropped from 8,000 KPW to 6,500 KPW, according to multiple informed sources who spoke with NK News on the condition of anonymity. The decrease took place at exchange kiosks, which cannot be used by foreigners. The U.S. dollar took another big hit in North Korea and dropped by about 20% in market value, several sources told NK News. However, there are conflicting reports about when exactly this happened. In recent weeks, the market value of the U.S. dollar dropped from 8,000 KPW to 6,500 KPW, according to multiple informed sources who spoke with NK News on the condition of anonymity. The decrease took place at exchange kiosks, which cannot be used by foreigners. Become a member for less than $5.75 per week. Unlimited access to all of NK News: reporting, investigations, analysis The NK News Daily Update, an email newsletter to keep you in the loop Searchable archive of all content, photo galleries, special columns Contact NK News reporters with tips or requests for reporting Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts. Subscribe now All major cards accepted. No commitments – you can cancel any time. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

News

US dollar drops by 20% in North Korea, signaling government market manipulation

Devaluation is latest policy apparently designed to decrease the volume of foreign currency in circulation

Chad O'Carroll November 6, 2020

US dollar drops by 20% in North Korea, signaling government market manipulation

Photo by Karolina Grabowska from Pexels

The U.S. dollar took another big hit in North Korea and dropped by about 20% in market value, several sources told NK News. However, there are conflicting reports about when exactly this happened.

In recent weeks, the market value of the U.S. dollar dropped from 8,000 KPW to 6,500 KPW, according to multiple informed sources who spoke with NK News on the condition of anonymity. The decrease took place at exchange kiosks, which cannot be used by foreigners.

Become a member for less
than $5.75 per week.

Unlimited access to all of NK News: reporting, investigations, analysis
The NK News Daily Update, an email newsletter to keep you in the loop
Searchable archive of all content, photo galleries, special columns
Contact NK News reporters with tips or requests for reporting

Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts.

Subscribe now

All major cards accepted. No commitments – you can cancel any time.

US dollar drops by 20% in North Korea, signaling government market manipulation

Become a member for less than $5.75 per week.

Start your day with the North Korea stories that matter most –

as selected by <img width="226" height="50" class="logo" src="https://www.nknews.org/wp-content/themes/nknews/images/header-logo.png" alt="NK News Logo">

One more step!

Trending

Recent Stories

About the Author

Chad O'Carroll

Become a member for less
than $5.75 per week.

Start your day with
the North Korea stories that matter most –

as selected by