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The banknotes include over 10 security features in each denomination. The 50,000 won note has 22 security features, the 10,000 won note 21, the 5,000 won note 17, the 2,000 won note 10 and the 1,000 won note 19. Many modern security features that can be also found in euros, pounds, Canadian dollars, and Japanese yen are included in the ...
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). [4] 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.
As in the 1997 Asian financial crisis, Korean currency also experienced massive fluctuations, declining by 34% against the US dollar. [57] Annual growth in the economy slowed to 2.3% in 2008, and was expected to drop to as low as −4.5% by Goldman Sachs, [58] but South Korea was able to limit the downturn to a standstill at 0.2% in 2009. [59]
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The miniatures and models cost ₩5 million ($20,000 in USD), [16] the 12 constructed sets cost ₩7 million ($27,000 in USD), [17] the Yongary suit cost ₩1.2 million ($5,000 in USD), [18] and ₩500,000 ($2,000 in USD) was spent on gunpowder for pyrotechnics.
The silver-colored Susan B. Anthony dollar was replaced with gold-colored Sacagawea dollar in 2000 and Presidential Dollars 2007-2016; though the composition changed, the coin's size and weight remain the same. Some variances in coin size and weight occurred over time, especially as the value of silver varied.
Yoo Byung-eun (Korean: 유병언; Hanja: 兪炳彥,11 February 1941 – 12 June 2014) was a South Korean businessman, inventor, religious leader, and photographer.He was also known by his art name Ahae.
This change led to more conversion of gold into dollars, allowing the U.S. to effectively corner the world gold market. [15] [16] The suspension of the gold standard was considered temporary by many in markets and in the government at the time, but restoring the standard was considered a low priority to dealing with other issues. [12] [15]