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Keyword: foreigntransaction

From NK Border: Supernotes, Defacto Currency of N. Korea(Truly Bizzare Development)

07/31/2006 8:07:03 AM PDT · by TigerLikesRooster · 36 replies · 1,588+ views
The Daily NK ^ | 07/31/06 | Kwon Jung-hyun & Shin Ju-hyun

/begin my excerptFrom NK Border: Supernotes, Defacto Currency of N. Korea "Hyperinflation,... payment in Supernotes" [2006-07-31 12:11] food section at No.1 Dept. Store in Pyongyang Recently, 100-dollar Supernotes are circulated as defacto currency (of N. Korea) among merchants, which is a shocking development. Until now, Supernotes have been inserted among genuine dollar bills when some trading outfits and drug smugglers make their payment in China and other places, but now they are used as unofficial means of payment at N. Korean markets. Some N. Korean merchants started to use Supernotes(nominal value: 100 dollars) as '70 dollar bill' early this year, and this...

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