North Korea has long allowed an unusual degree of private trade in foreign currency for a communist bloc country, and a new study has shone a light on just how common it is.
South Korea’s central bank recently published a survey of North Korean refugees that deals with the payment systems in the North last year and found that nearly one in three defectors who remitted money to family in the DPRK sent dollars or yuan. Those sending cash to Pyongyang preferred dollars, while border city destinations were more likely to receive yuan.
North Korea has long allowed an unusual degree of private trade in foreign currency for a communist bloc country, and a new study has shone a light on just how common it is.
South Korea’s central bank recently published a survey of North Korean refugees that deals with the payment systems in the North last year and found that nearly one in three defectors who remitted money to family in the DPRK sent dollars or yuan. Those sending cash to Pyongyang preferred dollars, while border city destinations were more likely to receive yuan.
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.