North Korea's trade bank reportedly set the exchange rate for one U.S. dollar at 96-point-nine won on January first, in line with its November currency reform.

China’s International Herald Leader daily says the bank also set rates for other currencies, with one euro trading at 138-point-three won and one Chinese yuan at 14-point-two won.

Before the currency reform on November tenth, one euro was trading at 189 won and one yuan at 18-point-five won.

But given that Pyongyang authorities revalued their currency, which in the process made 100 won worth one won, the North Korean note has actually depreciated sharply.

One U.S. dollar should technically be trading at about one-point-four won.