North Korea - North Korean Won - Currency Guide

KPW News, Forecasts and Trends

The below interactive chart shows the USD to KPW exchange rate, trend and recent alerts for the last 90 days.

U$1,000 USD
=
₩900,000 KPW

Converted at USD/KPW wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

Travel, Currency and Money saving tips for North Korea

Travel money for North Korea

As mentioned above, the North Korean Won is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (KPW) before departure and will need to buy it upon arrival in North Korea.

For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the KPW you will incur currency conversion or foreign transaction fees if you use a travel money card in North Korea.

However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.

Sending money to North Korea

When searching around for information on how to get a good exchange rate when sending money to North Korea you need to start with finding out the latest North Korean Won exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.

Get a better deal for foreign transfers to North Korea

When sending money to North Korea it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

1. Open an account with a BER reviewed FX provider (id docs may be required)
2. You specify the local or North Korean Won amount you want to transfer
3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
4. Once your funds are received by the provider the converted KPW amount will be transfered to the recipient account you specify in North Korea.

Use the above Send to North Korean Won calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more North Korean Won deposited into the recipient bank account and less margins and fees kept by the banks!