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The North Korean Won is the official currency of the Democratic People’s Republic of Korea. The North Korean won is represented by the symbol ₩ and by the abbreviation KPW. The currency is further divided into 100 Chon. The Won is also known as the Korean People’s Won. The banknotes and coins are issued and circulated by the Central Bank of the Democratic People’s Republic of Korea. The banknotes issued ranges from 5 ₩ to 5,000 ₩ and coins in the range 1 to 50 Chon and of 1₩. The North Korean Won has an exchange value of 12-14 ₩ against the Indian Rupee.
North Korea is a country in Eastern Asia, close to China and South Korea. North Korea is one of the most controversial nations in the world attributed to the political activities of the country. North Korea is always in a state of dispute with other world nations especially the United States and South Korea. North Korea is a communist nation that has been practising an authoritarian governance system, favouring only the Kim family. The country suffers from a deteriorating government and economic condition that forces the citizens to escape from the country. Every industry in the country is nationalized and run by the state. The private sector does not have any particular role in the economy as everything is run by the state. The North Korean Won is hard to obtain for anyone other than the citizens of North Korea. The KPW can only be exclusively used by DPRK citizens. It is illegal for anyone other than the citizens to use the Won for transactions in North Korea. For visitors from aboard the only currencies that can be used are the Euro, Chinese Renminbi and US Dollars. The exchange rates drastically for these currencies against the North Korean Won.
The North Korean Won is very exclusive, making it possible only to use by the North Korean Citizens. Anyone visiting the nation can make transactions only in cash and only in Euros, Renminbi and USD. An interesting factor is that you will be even given change back in a combination of these three currencies. It is impossible to convert INR into North Korean currency in India. The currency is not available in banks and exchange houses in India. Anyone travelling to North Korea should possess any one of the following currency in hand; Euro, Chinese Renminbi or USD. Since Euro is more popular than USD in Korea it is better to carry Euro.
| Currency | North Korean Won |
|---|---|
| ISO Code | KPW |
| Symbol | ₩ا |
| Nick Name | None |
| Sub Units | Chon ( 1 Won= 100 Chon) |
| Denominations | |
| Notes | 5, 10, 50, 100, 200, 500, 1000, 2000, 5000 ₩ |
| Coins | 1, 5, 10, 20, 50 Chon, I₩ |
| Valid in | North korea |
The conversion of INR to Korean currency is not possible due to the fact that North Korean Won can only be used by North Korean citizens. For anyone travelling to North Korea, the only means to make payments is by cash and in Euros mostly. Hence the most practical way is to convert INR to Euro and then use the Euro for expenses in North Korea. Euro is preferred mostly over USD because of the government approach towards the USA. ExTravelMoney.com can help you convert INR to Euros with the best exchange rate of the day. Choose from the list of vendors in your region along with their exchange rate for Euro against INR from our website. Place the order online and wait for our customer care executive to contact you for completing the order. Make the payment online and you can even request the vendor to provide services at your doorsteps for delivering the forex and picking up the KYC documents.
The North Korean Won is not accepted by any money changer or bank in the world other than the ones in North Korea. Hence the conversion of the currency to INR is impossible in India. And the North Korean currency is illegal to possess by anyone other than North Korean citizens. It is best to convert the currency to Euros or USD before you leave the country. Then with the help of ExtravelMoney.com, you can convert Euro or USD into Indian currency. You can choose from the list of vendors along with their exchange rate from our website and place the order. And then our customer care executive will contact you for completing the order. You can request the vendor to offer services at your home in picking up the forex currency and the KYC documents.
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