Cold hard cash? Currency coupons give North Korea options with money supply
Inability to print cash likely behind coupons, but they also provide a safeguard for post-pandemic currency devaluation
News recently leaked out of North Korea that authorities had printed a new currency for use in lieu of foreign banknotes at the country’s shops.
As it turned out, this was not the case. What had actually happened was monetary authorities had printed new currency coupons, money in all but name, to make up for a shortfall in the currency supply.
But this raised the question: Why is North Korea suffering from a cash crunch? And what effect might these new cash coupons be having?
NK Pro analysis points to the following
- 01Timeline: From COVID-19 vaccines to preparations to reopen North Korea’s border
- 02How has COVID-19 impacted North Korean market prices?
- 03Juche H-bomb: North Korea’s efforts to tie self-reliance to its nuclear weapons
- 04North Korea reels in cash from fishing permits this year, despite UN ban
- 05Why America is fighting a losing battle against North Korean cyber crime
- 06North Korea warily eyes the markets that now dominate food distribution
- 07Political disputes leave US no closer to appointing DPRK human rights envoy
- 08Kim Jong Un builds new mansions across country as North Korean public suffers