Yuan exchange rate skyrockets amid increased demand for Chinese currency - Daily NK English

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Yuan exchange rate skyrockets amid increased demand for Chinese currency - Daily NK English

North Korea’s yuan exchange rate is climbing sharply, driven by increased demand for the Chinese currency due to North Korea’s “regional development 20×10 policy.” According to Daily NK’s regular survey of market prices in North Korea, the market KPW-RMB exchange rate was KPW 1,550 to the yuan in Pyongyang as of Mar. 31. This was 14% higher than the previous survey two weeks earlier when the yuan traded at KPW 1,360 in the North Korean capital. …