Surprise on North Korea to decide the currency redenomination is suppose Scaoill and desperation among the traders sitting with piles notes worthless, even driving some to suicide, activists said today.
North Korea informed citizens and foreign embassies on Monday that it would redenominate the national currency, the won, diplomats said. Residents told state cumannach are reclusive until Sunday with a limited amount to exchange old bills, they said.
The news to Pyongyang residents rushing into the black market in hoarded bills ndollair and Chinese yuan, reported South Korea's news agency Yonhap, North Korea unidentified state companies operating in neighboring China.
Shops, bathhouses, Barber shops and restaurants closed, activists said.
"We have heard the industry and the market, which was suspended on all activities," said Lee Seung-yong, an officer of his good friends, in Seoul based on social group which food and other assistance to North Korea. "There are people any money to participate in the business."
The authorities have threatened "merciless punishment" for anyone who violated exchange rules, Good Friends said.
The review of North Korea won - the most dramatic in 50 years - that inflation is too hollow and clamp down on street markets that have sprung up in the tightly controlled nation, analysts said.
Unable to feed 24 million people, the system began in 2002 allowing some markets, including farmers markets.
Markets may encourage the trade, but they also gave in prohibited goods, such as films and soap operas from South Korea, threatening leader Kim Jong-il's totalitarian regimes, analysts said. As the country's largest wholesale market in Pyongyang, reportedly closed in June.
With overhaul of the currency, the government is regaining control of the economy, traders, analysts said.
"This is aimed at abolishing the nascent private sector," said Jeong Kwang-min, a research member at the Institute for National Security Strategy in Seoul, adding that the transfer is broader purpose: to resolve on the way to For Kim Jong-il to hand power to a younger son, Kim Jong-un, and make sure he got a stable economy.
Kim, 67, resulted in North Korea since 1994, but said he suffered a stroke in August 2008.
The country has endured economic turmoil since the disaster of the Soviet Union and floods and economic mismanagement in the mid-1990s. North Korea because it is dependent on international food handouts and aid in exchange for negotiated commitments to dismantle its nuclear program.
Much of that aid is suspended, and the tightened international sanctions, because of Pyongyang's nuclear opposition.
North Korea announced on state radio that the exchange rate would be set at a ₩ 100 new aged ₩ 1 on this foreign diplomat. Residents are permitted to exchange the new currency and 150,000 won, according to South Korea's Joong ANG Ilbo newspaper and other media, radio monitoring North Korea.
Cash in excess of the amount permitted to be stored in government-run banks, but it was not clear whether residents of money could change in new orders, according to the media, South Korea.
A stampede in Hoeryong, in north-east, almost forced a suspension of trains, the guards blocking the way into bank in the city, the Seoul-based Network for North Korea Democracy and Human Rights, which demonstrates that -- sources identified.
In the North province Hamgyŏng, trade a couple in their 60s slain themselves heard from the revaluation, according to the Daily NK, in Seoul-based online news outlet that focuses on North Korea issues.
Yoo Ho-Yeol, in North Korea expert at Korea University Seoul, said he did not expect any further drastic measures. He said: "Other forms of private economic enterprise will eventually spring back up."
North Korea informed citizens and foreign embassies on Monday that it would redenominate the national currency, the won, diplomats said. Residents told state cumannach are reclusive until Sunday with a limited amount to exchange old bills, they said.
The news to Pyongyang residents rushing into the black market in hoarded bills ndollair and Chinese yuan, reported South Korea's news agency Yonhap, North Korea unidentified state companies operating in neighboring China.
Shops, bathhouses, Barber shops and restaurants closed, activists said.
"We have heard the industry and the market, which was suspended on all activities," said Lee Seung-yong, an officer of his good friends, in Seoul based on social group which food and other assistance to North Korea. "There are people any money to participate in the business."
The authorities have threatened "merciless punishment" for anyone who violated exchange rules, Good Friends said.
The review of North Korea won - the most dramatic in 50 years - that inflation is too hollow and clamp down on street markets that have sprung up in the tightly controlled nation, analysts said.
Unable to feed 24 million people, the system began in 2002 allowing some markets, including farmers markets.
Markets may encourage the trade, but they also gave in prohibited goods, such as films and soap operas from South Korea, threatening leader Kim Jong-il's totalitarian regimes, analysts said. As the country's largest wholesale market in Pyongyang, reportedly closed in June.
With overhaul of the currency, the government is regaining control of the economy, traders, analysts said.
"This is aimed at abolishing the nascent private sector," said Jeong Kwang-min, a research member at the Institute for National Security Strategy in Seoul, adding that the transfer is broader purpose: to resolve on the way to For Kim Jong-il to hand power to a younger son, Kim Jong-un, and make sure he got a stable economy.
Kim, 67, resulted in North Korea since 1994, but said he suffered a stroke in August 2008.
The country has endured economic turmoil since the disaster of the Soviet Union and floods and economic mismanagement in the mid-1990s. North Korea because it is dependent on international food handouts and aid in exchange for negotiated commitments to dismantle its nuclear program.
Much of that aid is suspended, and the tightened international sanctions, because of Pyongyang's nuclear opposition.
North Korea announced on state radio that the exchange rate would be set at a ₩ 100 new aged ₩ 1 on this foreign diplomat. Residents are permitted to exchange the new currency and 150,000 won, according to South Korea's Joong ANG Ilbo newspaper and other media, radio monitoring North Korea.
Cash in excess of the amount permitted to be stored in government-run banks, but it was not clear whether residents of money could change in new orders, according to the media, South Korea.
A stampede in Hoeryong, in north-east, almost forced a suspension of trains, the guards blocking the way into bank in the city, the Seoul-based Network for North Korea Democracy and Human Rights, which demonstrates that -- sources identified.
In the North province Hamgyŏng, trade a couple in their 60s slain themselves heard from the revaluation, according to the Daily NK, in Seoul-based online news outlet that focuses on North Korea issues.
Yoo Ho-Yeol, in North Korea expert at Korea University Seoul, said he did not expect any further drastic measures. He said: "Other forms of private economic enterprise will eventually spring back up."
