◆Authorities Worried Counterfeit Money May Worsen Inflation
North Korea suffered severe inflation last year, with rice prices surging 1.7 times and gasoline prices 2.2 times. The mass circulation of counterfeit money will further accelerate this inflation. This presents a major headache for authorities, who have no choice but to be vigilant.
A reporting partner in Hoeryong in North Hamgyong Province also reported: "Counterfeit money circulation is causing problems. While we're told to establish a reporting system for donpyo or fake money and report immediately upon discovery, hardly anyone reports receiving fake money."
Chinese 10 yuan, 20 yuan notes, and donpyo vouchers are commonly counterfeited. The reporting partner reported that donpyo vouchers, which were already avoided due to distrust in government monetary policy, are now being refused by everyone.
※ ASIAPRESS communicates with its reporting partners through Chinese cell phones smuggled into North Korea.
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