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The U.S. government believes that North Korean officials have passed off supernotes in various countries and accuses North Korea of producing them. [5] Over $35 million worth of counterfeit $100 bills were produced by British criminals, who were arrested in 2002.
The United States authorities alleged that Garland had been involved in the distribution and resale of counterfeited U.S. dollars – so-called "superdollars" or "supernotes" – in 1998 in Belarus, the Czech Republic, Denmark, the UK, the Republic of Ireland, Poland, and Russia.
North Korea's foreign trade deteriorated in the 1990s. After hitting the bottom of $1.4 billion in 1998, it recovered slightly. North Korea's trade total in 2002 was $2.7 billion: only about 50% of $5.2 billion in 1988, even in nominal US dollars. These figures exclude intra-Korean trade, deemed internal, which rose in 2002 to $641 million.
WASHINGTON (Reuters) -The United States on Tuesday imposed sanctions on two people and one entity based in the United Arab Emirates, accusing them of being involved in a network that launders ...
Room 39 has been described as the linchpin of the North's so-called "court economy" centered on the dynastic Kim family. [8]According to claims made by North Korean defector Kim Kwang-jin, in 1972, Kim Jong Il created the central party department called "Office No. 39", which was named after the arbitrary office number where it began operations. [9]
The U.S. dollar touched a two-week low on Tuesday as traders bet on riskier currencies on new signs of a thaw in relations between North and South Korea and the North's willingness to discuss ...
North Korea most likely experienced hyperinflation from December 2009 to mid-January 2011. Based on the price of rice, North Korea's hyperinflation peaked in mid-January 2010, but according to black market exchange-rate data, and calculations based on purchasing power parity, North Korea experienced its peak month of inflation in early March 2010.
The Korean People's won, more commonly known as the North Korean won (Symbol: ₩; Code: KPW; Korean: 조선 원) and sometimes known as the Democratic People's Republic of Korea won (Korean: 조선민주주의인민공화국 원), is the official currency of North Korea. It is subdivided into 100 chon.