As rumors of a new won redenomination grow, North Koreans are shunning the local currency and preferring to use American dollars and Chinese yuan instead.
They remember the hardship of the last redenomination in 2009, in which families were limited in the amount of old currency they could redeem.
Retail merchants have now problems making change of large U.S. or Chinese banknotes, as clients refuse to take back North Korean won, and small dollar and yuan notes are scarce.
Source: Daily NK.
Courtesy: Dr. Wolfgang Schuster.
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