North Korea Scraps Currency
North Korean banks on Wednesday formally began a currency exchange aimed at wiping out much of the private savings people have accumulated through market activities. […]
North Korea said Monday that new currency would be issued this week and said it would accept only a strict limit — amounting to around the equivalent of US$40 — on the amount of old currency it would accept in exchange. The rest of the money would be scrapped in an apparent effort to make people more dependent on the government.
