North Korean won

1 EUR = 176.189 KPW 100 KPW = 0.567573 EUR

The Won ( currency symbol ₩, ISO 4217 code: KPW) is the currency of North Korea. A Won is divided into 100 chon ( 전 Hangul, Hanja钱).

The current Won was introduced in early December 2009, he was issued during a brief exchange period against old won. An official exchange rate against other currencies Wons does not exist. The exchange rate of the old won was established by the Government fixed to 1 euro = 169 Won; on the black market however it was worth considerably less. For trade with other countries there was a special currency that was discontinued in July 2002 in favor of foreign currencies. After a short time, the U.S. dollar was using, now the Euro and partly also the Japanese yen will be used. Inside North Korea's win in the markets ( the so-called Changmadangs ) foreign currencies is becoming increasingly important. Above all, the Chinese yuan spreads lately more and more as the predominant means of payment, because most imported goods to North Korea anyway originate from China. In addition, the state stores that only accept local currency, losing more and more important because they can no longer guarantee that the population especially with food for quite some time. So the won losing more and more important.

The new Won there in notes 5, 10, 50, 100, 200, 500, 1000, 2000 and 5000, and won in coins of 1, 5, 10 and 50 chon and 1, 10, 50 and 100 won.

Before 1980, there were coins in circulation in three versions: without, with one and on the back with two stars. Spending without star destined for North Koreans, coins with a star for visitors from socialist countries, coins with two stars for visitors from capitalist countries.

In early December 2009, the North Korean government a currency section of the new currency was exchanged at a rate of 100:1 ( two zeros of the old currency will be deleted). The population was allowed to convert a maximum of 100,000 won per family until December 6. Cash amounts over 100,000 were either exchanged according to different sources only to a maximum of 30% or at the rate of 1000:1.