North Korea’s market exchange rate for foreigners suddenly drops by more than 9%



News North Korea’s market exchange rate for foreigners suddenly drops by more than 9% The abrupt shift could mean trade and travel restrictions will stay in place for the foreseeable future, experts say Chad O'Carroll January 28, 2021 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Photo by olia danilevich from Pexels North Korea’s market exchange rate for foreigners suddenly dropped on Wednesday, according to NK Pro’s Exchange Rate Index, hinting that the country’s borders will remain closed for the foreseeable future. The U.S. dollar dropped by 12.5% from 8,000 KPW to 7,000 KPW, while the euro dropped 9.3% from 8,600 to 7,800 KPW, an informed source said. This ends a discrepancy that had allowed foreigners to exchange cash at more favorable rates than locals over the last three months. North Korea’s market exchange rate for foreigners suddenly dropped on Wednesday, according to NK Pro’s Exchange Rate Index, hinting that the country’s borders will remain closed for the foreseeable future. The U.S. dollar dropped by 12.5% from 8,000 KPW to 7,000 KPW, while the euro dropped 9.3% from 8,600 to 7,800 KPW, an informed source said. This ends a discrepancy that had allowed foreigners to exchange cash at more favorable rates than locals over the last three months. Try unlimited access Only $1 for four weeks Unlimited access to all of NK News: reporting, investigations, analysis Year-one discount if you continue past $1 trial period 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

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North Korea’s market exchange rate for foreigners suddenly drops by more than 9%

The abrupt shift could mean trade and travel restrictions will stay in place for the foreseeable future, experts say

Chad O'Carroll January 28, 2021

North Korea’s market exchange rate for foreigners suddenly drops by more than 9%

North Korea’s market exchange rate for foreigners suddenly dropped on Wednesday, according to NK Pro’s Exchange Rate Index, hinting that the country’s borders will remain closed for the foreseeable future.

The U.S. dollar dropped by 12.5% from 8,000 KPW to 7,000 KPW, while the euro dropped 9.3% from 8,600 to 7,800 KPW, an informed source said. This ends a discrepancy that had allowed foreigners to exchange cash at more favorable rates than locals over the last three months.

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