KPW

North Korean Won

KPW is the official currency of North Korea. It is issued by the Central Bank of the Democratic People's Republic of Korea and is subdivided into 100 chon.

The won is a blocked currency, not freely traded internationally. The official exchange rate differs dramatically from black market rates. In 2021, emergency 'donpyo' (money coupons) were issued due to currency printing shortages caused by pandemic lockdowns.

Related Terms

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South Korean Won

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Central Bank of the Democratic People's Republic of Korea

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