North Korean won
Currency of North Korea
North Korean won
The Korean people's won (symbol: ₩; code: KPW; Korean: 조선 인민 원), more commonly known as the North Korean won (Korean: 조선 원; known as 북한 원 in South Korea) and sometimes known as the Democratic People's Republic of Korea won (Korean: 조선민주주의인민공화국 원), is the official currency of North Korea. Each won (원) is technically subdivided into 100 chon (전), but chon-denominated coins are now rarely used due to inflation. The currency is issued by the Central Bank of the Democratic People's Republic of Korea, which produces both coins and banknotes; it is based in the capital city of Pyongyang. The won has been issued since 1947, and has been the only currency issued in North Korea since.
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