Currency Exchange Rates for Korean won Rate? Convert GBP to KPW at todays exchange rate. See money transfer for north Korea and historical to restrictions.
KPW is the currency code for the North Korean currency. The currency comes with its own value and can be exchanged with other currencies in the world. Read on to discover some amazing information about the North Korean currency called KPW.
Nicknames for that currency if any?
The nickname for the North Korean currency is simply called Won. Won can be exchanged with other currencies such as the GBP, USD, Euro and just to mention a few. The North Korean currency Won is represented by the unique symbol â‚©.
Name of Central Bank:
The Central Bank of the DPRK is the name for the official monetary system of the country. The Central Bank of the DPRK came into existence on December 6, 1947.
In July 2013, the North Korean inflation is recorded at fifty-five percent. From 2010 to 2013, the average inflation rate of the country reads 551.36 percent. It reached the highest point of 4376 percent during August of 2010. The inflation rate also recorded the lowest point at 30 percent during January of 2012. In 2017, the highest percentage is at 360 percentage.
Spelling and Capitalization:
The spelling of the currency is KPW, which means Korean People's Won. The capitalization of the currency is to stress the value of each letter and its representation.
Use of the currency outside the country:
Without any doubt, the KPW is only used in the country. This means that its value outside North Korean will not be valued. There is also a strong monetary restriction on using the currency outside of the country.
Exchanging currency in the country:
One KPW is equal to 0.00786 US dollar. The currency can be exchanged with GPB, Euro, Australian Dollars, INR, CAD, PHP, TRY and just to mention a few.
Converting from GBP pounds to (currency):
One KPW is equal to 0.00602 GBP.
What does GBP to (currency) mean?
GBP simply means converting the North Korean Won to the British pounds.
What is the sign for the (currency)?
The symbol of the money is â‚©
Is (currency) stable or undervalued? and what is the cause?
With the currency UN sanction on the country, it is clear that its currency is undervalued.
What are the main currencies in use and why?
The main currency used in the country is Won.
Currency Information on North Korean Won - KPW — north Korean won - ₩
Coins are available in 1, 5, 10 and 50 chon, as well as 1, won. Banknotes are available in denominations of 5, 10, 50, 100, 200, 500, 1000, 2000 and 5000 won.
The name ‘won’ is an amalgamation of the Chinese ‘yuan’ and Japanese ‘yen’, all of these are words which man ‘round’.
As North Korea is a socialist state, a separate currency is issued for visitors. North korea issue foreign exchange certificates for visitors, blue for non- socialist country visitors and the red for visitors from other socialist countries.
I run a local delicatessen business in Surrey. Many of my artisan suppliers are based in Italy, Spain and France. We are always making payments to these suppliers and knowing we are getting the best rates is vitally important for us; our margins are tight and any savings are crucial for the success of our business.
Comment written by Artisan supplier based in Italy.
View more testimonials...