About the Author
Peter Ward
Peter Ward is a senior researcher at Kookmin University, a writer and researcher focusing on the North Korean economy, and holds a Ph.D. from the University of Vienna.
A new North Korean publication has confirmed what has been evident and rumored for some time: that markets are integral to the country’s official exchange rates.
In any other country this would be the first sentence in a beginner's textbook on foreign currency markets, but in the DPRK, this marks a major admission of the central role that markets play in North Korean life.