Currency of North Korea !!

Posted by gmygotravel

The North Korean won, denoted by KPW, is the official currency used in North Korea. Since December 2001, the North Korean government has abandoned the rate of 2.16 won to the dollar (of which the root is Kim Jong-il's birthday, February 16). 

Instead, banks in the country now issue at exchange rates that are closer to those of the black market. However, unchecked inflation has been eating into the value of the won to such an extent that it is currently worth about the same as the won of South Korea. 

An interesting note on bill design: Unusually, the 100, 1000 and 5000 won bills are of essentially the same basic design, portraying the exact same subjects (although they are colored differently). North Korea has in the past issued whole series of notes in which the designs are exactly the same, right down to color, only the denomination being different.