North Korea Travel Answers

change location
DSwede's Profile Photo

Money conversion

by DSwede Online Now Aug 7, 2007 at 9:41 PM

I'm not looking to exchange a lot of money, but just a little to get some things along the way.

I know USD are derated. I know Chinese Yuan, Japanese Yen, Euro and Korean Won are accepted at most places.

But if I were to pick one, which would be the best choice. I have all of them, just want to know which to pack.

Quote & Answer
3 Answers
  • CliffClaven's Profile Photo

    Re: Money conversion

    by CliffClaven Online Now Aug 7, 2007 at 10:51 PM

    The official exchange currency in DPRK is now euros (US dollars were taken out of circulation in 2003 but can still be used though we advise you to bring euros). It is possible to exchange other currencies (such as pounds, yen, renminbi, HK dollars) in the hotel but be aware that the rate will not be in your favour; it is better to change the money before entering the DPRK. We do not recommend taking in travellers' cheques as they are difficult to cash. Economic reforms at the end of 2002 mean that the DPRK won is now valued at roughly 165 won to one euro. It may be possible to get hold of real DPRK money in the hotel but the best currency to use when buying goods remains the euro.

    Source: www.koryogroup.com

    Be the first to rate this answer!

    Was this helpful? Quote & Answer
  • DSwede's Profile Photo

    Re: Money conversion

    by DSwede Online Now Aug 7, 2007 at 11:45 PM

    Thanks! Now all I have to do is break my Euros into smaller denominations.

    Be the first to rate this answer!

    Was this helpful? Quote & Answer
  • DSwede's Profile Photo

    Re: Money conversion

    by DSwede Online Now Sep 29, 2007 at 10:19 AM

    FYI, obtaining North Korean Won is illegal for foreigners. If you want some, you'll have to sweet talk one of your guides, or tip them well. Bills can be found in Dandong China tourist shops.

    Any place that you can purchase goods in DPRK will do the exchage calculation on the spot. They accept RMB, EUR or USD. Your change will be given back in the same currency as your payment.

    Be the first to rate this answer!

    Was this helpful? Quote & Answer
Your Answer
Advanced Editor View Guidelines

Popular North Korea Travel Answer Locations