1 us dollar official exchange rate 150, folk 1 us dollar is about 2900. Trade banks and their agencies handle foreign currency exchange business. Foreigners staying in the DPRK, catering, shopping and making phone calls must be settled in common currencies such as euro, US dollar, Japanese yen or RMB. Korean won can be used in farmers' markets.
North Korea implements strict foreign exchange control, so the foreign exchange trading price has the official exchange rate, 150 won, convertible to 1 US dollar. But in fact, due to the backward economy of North Korea, the status of North Korea's currency in the world is very low. It is estimated that no one wants it except North Korea's domestic and border areas. Therefore, the official exchange rate seriously overestimates the Korean won, and this real price is reflected in the private black market (the government does not allow people to exchange money), that is, 2900 won can only be exchanged for 1 US dollar.
According to the comparison of the actual value of domestic currency and key currency, the exchange rate between domestic currency and key currency is calculated, which is the basic exchange rate.
Exchange rate ",also known as" foreign exchange market "or" exchange rate ",is the ratio of one country's currency to another country's currency and the price of another currency expressed in one currency. Because of the different names and values of currencies in the world, one country's currency should set an exchange rate for other countries' currencies, that is, the exchange rate. In the short term, a country's exchange rate is determined by the demand and supply of foreign currency.
Exchange rate can be understood as price. When the exchange rate rises, the price will rise. The exchange rate is the price at which one currency represents another.
There are two main ways to express the exchange rate: one is based on how much local currency the unit foreign currency is converted into, that is, direct quotation, for example, China's 100 USD =637.35 RMB. In this way, the rise of exchange rate means that the unit foreign currency is converted into more local currency, that is, the local currency depreciates; The other is how much foreign currency the local currency is converted into, which is called indirect pricing method. Under this representation, the rise of foreign exchange rate means the appreciation of local currency.
Most countries in the world quote directly, so there is no special explanation. The direct purchase price is the default purchase price, and the exchange rate rises to the depreciation of the local currency. Generally speaking, the exchange rate refers to the conversion of foreign currency into RMB.