Value of U.S. dollar dives in N. Korea amid foreign currency ban

The value of the U.S. dollar has plunged in North Korea in recent months, as the country’s authorities have started to ban in principle the use of foreign currency since two months ago, sources close to the matter said Wednesday. The prohibition is apparently aimed at depriving citizens of U.S. dollars, given that North Korea has faced difficulties in obtaining foreign currency after the pandemic of the novel coronavirus stifled its trade with its neighbors earlier this year. In January, dollars, used at home, were stably exchanged above 8,000 won in Pyongyang. But the U.S. currency began to p…

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