"Am I therefore become your enemy,because I TELL YOU THE TRUTH...?"
(Galatians 4:16)

Monday, December 7, 2009

North Korea revalues currency...

SEOUL-North Korea has revalued its currency, Yonhap news agency reported Tuesday, quoting sources close to North Korean traders in China.The old currency started being exchanged for a new one Monday afternoon, Yonhap said.
Daily NK, an online newspaper on North Korean affairs, said the exchange rate for the new currency is 100 to 1 with old 1,000 won bills being replaced by new 10 won bills.
"It looks like an attempt to control inflation, but it may have the side effect of making consumer reliance on dollars or Yuan rise due to a loss of confidence in the value of the North Korean currency," Daily NK said....

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