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North Koreans angry, markets paralyzed after currency reform: reports
SEOUL, Dec. 1 (Yonhap) -- The North Korean government's abrupt currency reform has thrown the local market into chaos, paralyzing domestic commercial trading and prompting a growing public backlash, reports said Tuesday.
North Korea sharply raised the value of its currency on Monday, with a 100 to 1 exchange rate for new denominations, according to various sources in China and South Korea. North Korean media has yet to announce the country's first monetary reform since 1992.
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