North Korean won
The won (; , ; symbol: ₩; code: KPW) or Korean People's won is the official currency of North Korea. It is subdivided into 100 "chon". The won is issued by the Central Bank of the Democratic People's Republic of Korea, based in the capital city, Pyongyang.
North Korean won
In 2009, another currency reform was initiated to tackle hyperinflation and black market activities. Unlike previous reforms, the 2009 move sparked a nationwide panic when it was announced there would be a two-week waiting period between the withdrawal of the old currency and the introduction of the new currency, coupled with an exchange limit of only 500,000 old won for each person, effectively wiping out savings. The state eventually pulled back on most exchange limits; however, the revaluation proved to be a failure.