Korea: A Land Divided. Economics. North Korea. Official Name: Democratic People’s Republic of Korea (DPRK) The government of North Korea is secretive about its economic performance. They limit the information which is released both to their own population, as well as the outside world.
As of November 17, 2006, 1 US Dollar is equal to 2.20 KPW.
1 Won = 100 jon
There are three types of currency in North Korea.
The first is local currency, which comes in banknotes and coins. (This money cannot be converted into foreign currency.)
There are also two types of currency for use by foreigners.
Foreigners exchanging hard currency receive banknotes, which are green for won and blue for jon.
Foreigners exchanging `nonconvertible' currency (such as countries in the former Communist block and the third world) receive banknotes, which are red for won and pink for jon.Currency of North Korea
Currency: Won (KRW)
Won’s symbol: 'W'
As of November 17, 2006, 1 US Dollar is equal to 940 W.