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Itar-Tass: N. Korea to Implement Currency Reform

Written: 2004-08-24 00:00:00Updated: 0000-00-00 00:00:00

Russia's Itar-Tass News Agency says North Korea will implement currency reform measures in the near future. Itar-Tass said the North Korean government is planning currency reform to control inflation and prevent forgery of bank notes. The news agency also said a delegation of officials from the People's Bank of China had advised North Korean officials on the matter in Pyongyang last week. The value of the North Korean won in the North's black-market was 1,400 per euro several months ago, but has recently gone up to two thousand won to the euro. The official exchange rate is 170 North Korean won per euro and 140 won per U.S. dollar.

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