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NK Sets Price Levels after Currency Reform

Written: 2009-12-14 07:03:35Updated: 0000-00-00 00:00:00

NK Sets Price Levels after Currency Reform

A Seoul-based group on North Korea human rights says North Korean authorities announced Wednesday new price rates for products following a recent currency reevaluation.

The civic group Good Friends said in its online newsletter that the one kilogram price has been set at 23 won for rice, eight won for corn, 12 won for flour and 45 won for pork.

The newsletter said that before the one to 100 ratio currency redenomination, the market price of rice was 17-hundred won in the capital Pyongyang, 18-hundred-50 won in Hamheung and two-thousand won in Cheongjin.

It also noted that inflation in most North Korean cities caused most products to be sold at prices above the government-set price.

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