Denomination cause chaos in the DPRK

North Korea redenominate its currency, removing two zeros from the value of banknotes to cope with inflation and black market, officials said, referring to South Korean news agency Yonhap.

Yonhap quoted North Korean officials in China, according to which the measure was launched yesterday and has led people to seek feverishly to exchange their money Paid in Chinese yuan and U.S. dollar forward BTA.
Black markets in Pyongyang were overcome by chaos because people rushed to exchange local currency into U.S. dollars or yuani „said one source. South Korea said it had received information about such a move, but said he could not confirm whether this is true.
Seoul, adding that in the past, the DPRK has not attempted to conceal such measures, said yesterday.

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Finance