KPW - North Korean Won currency

North Korea flag North Korea

The North Korean Won (KPW) is the official currency of North Korea, a country known for its isolated economy and rigid government controls. Introduced in 1947 to replace the Korean Yen, the KPW is issued and regulated by the Central Bank of the Democratic People’s Republic of Korea. The Won is used exclusively within North Korea, and its value is tightly controlled by the government. Exchange rates for the Won are fixed and differ significantly between official and black market rates, making it difficult to determine its true market value. North Korea’s economy is largely state-controlled, with limited interaction with the global financial system due to sanctions and the country's isolationist policies. The KPW exists primarily in paper currency and coins, with limited denominations available. The banknotes feature patriotic imagery, including monuments, historical figures, and revolutionary slogans. Foreign currencies, such as the Chinese Yuan and U.S. Dollar, are often used in border trade and by foreign visitors, but the KPW remains the standard currency for domestic transactions.

KPW - North Korean Won profile

Symbol
ISO 4217 Code KPW
Central Bank Central Bank of the Democratic People’s Republic of Korea
Nicknames None
Countries using this currency North Korea

KPW - North Korean Won
live currency rates

Last updated:
Exchange rates here are informational, reflecting mid-market rates which fluctuate regularly. For an estimation of the rates offered by Instarem, please check our currency conversion calculator at the time of transfer.

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Disclaimer: All information in this article is provided for general knowledge and educational use only. It should not be considered legal, tax, or financial advice. We recommend contacting a licensed expert in your area for assistance with specific concerns.

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