North Korea’s official exchange rate closely tracks international markets. Exchange rate data gathered by NK Pro over the past two years indicates that the Foreign Trade Bank of the Democratic People’s Republic of Korea (below ‘Foreign Trade Bank’ or ‘FTB’) has been broadly successful in carrying out its role as setter of foreign exchange rates.

NK Pro analysis indicates:

The North Korean official exchange rate (exchange rate for Foreign Exchange Won, ‘FX Won’ for short) is set by the FTB, which has a mandate to set the rate in line with exchange rates in