Asia News reported from North Korea on Wednesday, outlining the disasterous effects the recent currency redenomination has had on the North Korean economy. Apparently, citizens are so afraid to take a financial loss on the new currency, they are bartering for what they need with their neighbors and local shops.
…the barter value of products is decided according to their value in old money. For instance, before the currency redenomination, a Pollock was 1,500 won and a kilogram of corn was 900 won, so people now barter one Pollock for a little less than two kilograms of corn.
See the full story at http://www.speroforum.com/site/article.asp?id=25943&t=North+Korea%3A+++People+revert+to+barter+to+cope+with+crisis
