The North Korean won, also known as the Korean People's won or Democratic People's Republic of Korea won, is the official currency of North Korea. It is subdivided into 100 chon. The Central Bank of the Democratic People's Republic of Korea is North Korea's central bank. Established on December 6, 1947, it issues the North Korean wŏn. The Bank is subordinated to the Cabinet of North Korea.
During your stay in North Korea you will see two DPRK won currencies. The old currency mentioned above which is available to buy at souvenir stores and presented as a collectors edition. Coins starting from ₩1 up to a ₩5000 note. Purchasing the old currency within North Korea will mean it is 100% legit. Buying it in China, most commonly found in the Chinese border city of Dandong will most likely be a fake copy – cheap for tourists visiting the area. The new currency is currently being used in North Korea. Despite the won being the national currency, the Chinese RMB is used widely within North Korea and much preferred by the locals. It is also easier receiving change in RMB. EURO and USD are accepted in most places however your change may be given back to you with RMB, euro or a mixture of the above.
Technically it is not permitted to take North Korean currency out of the country. If it is found on your person or in your luggage by the DPRK immigration, the officers will politely inform you it’s not allowed and you will need to forfeit the cash. However, it’s not uncommon for tourists to take cash out of North Korea as a souvenir.
Few Important Points of the North Korean Won (KPW)
Symbols: ₩
ISO code: KPW
Currency Subunit: Chon = 1/100
Denominations: Banknotes: ₩5, ₩10, ₩50, ₩100, ₩200, ₩500, ₩1000, ₩2000, ₩5000
Coins: ₩1, 1 Chon, 5 Chon, 10 Chon, 50 Chon
Countries using this currency: North Korea
Value of the North Korean Won (As on 23/04/2022)
1 North Korean Won = INR 0.085 (Indian Rupees)
1 North Korean Won = PKR 0.207 (Pakistani Rupees)
1 North Korean Won = BDT 0.096 (Bangladeshi Taka)
1 North Korean Won = USD 0.0011 (United States Dollar)
1 North Korean Won = EURO 0.0010 (Euro)
You can watch the following videos in YouTube in my channel "CURRENCY UNIVERSE" to know more about the North Korean Won. Please note that the videos are in Hindi.
NORTH KOREA CURRENCY - THE WON
1000 NORTH KOREA WON AND 1000 SOUTH KOREA WON VIDEO
Have any thoughts. Be sure to leave a comment below for any doubts or queries !!
Contact me through Instagram @currencyuniverse (https://www.instagram.com/currencyuniverse)
Last updated on 23/04/2022
Comments