North Korean Won is the basic unit of currency of North Korea. The currency ISO code of North Korean Won is KPW.
North Korean Won has floating rate. Since summer 2003, the North Korean authorities have introduced a floating exchange rate system and strongly depreciated the North Korean currency. The official exchange rate was raised from KPW 150 to KPW 900 per USD. It reflects the efforts the authorities make to reduce the difference between the official rate and the black market rate. The measures are part of the North Korean economic reform which began in July 2002.