Wednesday, January 5, 2011

North Korea launches monetary reform "in the second round"

According to the Korea the Korean daily news "reported that the monetary reform earlier this month, to absorb the marketers and the rich have cash. Reports that North Korea launched a monetary reform "in the second round".

The Korean daily that the North Korean Government from mid of this month is strictly forbidden the use of foreign currency in the foreigners directly in China, only allow the use of the Korean currency. It is said that, prior to the hotel or the market, do not have to exchange the currency, or you can directly use the dollar and other currencies.

The Korean Government has also informed that if the party responsible for earner of institutions in the absence of reasons for a long time to hold dollars, or to use US dollars cash settlement, all be confiscated.

The Korean Government after the announcement of such measures through the national cable radio and other media to encourage residents to "If you find that using the dollar to immediately report." It is noted that the current measures, in the currency reform after the boom of the dollar value gradually restore stability.

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