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In 1962, 10 and 50 jeon, 1, 5, 10, 50, 100 and 500 won notes were introduced by the Bank of Korea. The first issue of 1, 5, 10, 50, 100 and 500 won notes was printed in the UK by Thomas De La Rue. The jeon notes together with a second issue of 10 and 100 won notes were printed domestically by the Korea Minting and Security Printing Corporation.
10.3 Other. 11 Free floating. Toggle Free floating subsection. 11.1 Inflation-targeting framework. 11.2 Other. 12 See also. 13 References. Toggle the table of contents.
The Unicode code point is U+20A9 ₩ WON SIGN: this is valid for either appearance. Additionally, there is a fullwidth character at U+FFE6 ￦ FULLWIDTH WON SIGN (in the block halfwidth and fullwidth forms ).
In 1959, the old won was replaced with the Second Won, with price and exchange rates fixed to the U.S. dollar. This banknote series was issued in denominations of 50 chon, and 1, 5, 10, 50, and 100 won. These notes were much larger than the previous issue and depicted images representing various industries in the North Korean economy.
The price of the certificates quickly reached 332% of face value by April 1958, i.e. Rp38, a rate at which the government chose to end the free market, fixing the price at 332% of face value. The currency devaluation of large notes in 1959 had the official exchange rate devalued to Rp45 as of August 1959.
The price index at the end of 1965 had been calculated at 363 times higher than in 1958, and prices had risen approximately seven times over the previous 12 months. [7] In real terms (i.e. with inflation taken into account), a labourer in Jakarta was estimated to have earned 40 per cent of his earnings in 1958. [8]
The lower denominations, Rp1,000 and Rp5,000, were updated in 2000 and 2001. While the Rp5,000 note is still being printed, the Rp1,000 note was last issued dated 2013 (a limited number of notes dated 2016 were issued later) and, while remaining in circulation, has largely been replaced by a coin of the same value.
Display a table link to exchange rates between a currency to one of the top 9 most traded currencies in the world, and, optionally, three other currencies. Template parameters [Edit template data] This template prefers inline formatting of parameters. Parameter Description Type Status Currency code 1 The currency code to be used in this template. String required Additional currency 2 ...