North Korea - 10 Won - P-20s - 1978 dated Foreign Paper Money

10 Won, P-20s. (Specimen). North Korea. After the division of Korea, North Korea continued using the Korean yen for two years, until the Central Bank of the Democratic People's Republic of Korea was established on 6 December 1947 and the first North Korean won was issued. In February 1959, the second North Korean won was introduced, equal to 100 old won.

From 1978 on, the North Korean government maintained an iconic rate of 2.16 won to the US dollar (which is said to have been based upon Kim Jong Il's birthday, 16 February). Over the decades, however, rampant inflation eroded the currency's value, and from 2001 the government abandoned the rate in favor of those closer to the black market's. A report by defectors from North Korea claimed the black market rate was ?570 to the Chinese yuan (about ?4,000 per U.S. dollar) in June 2009. Read more at https://en.wikipedia.org/wiki/North_Korean_won