Converting from Hong Kong Dollar (HKD) to North Korean Won (KPW)

What is Hong Kong Dollar (HKD)

The Hong Kong Dollar (HKD) is the official currency of the Hong Kong Special Administrative Region of China. It is abbreviated as HKD and is denoted by the symbol "＄" or sometimes "HK＄" to distinguish it from other dollar-denominated currencies. The HKD is subdivided into 100 cents.

The currency was first introduced in 1863 and has since evolved to become one of the most traded currencies in Asia. The HKD is pegged to the US Dollar (USD) at a rate of approximately 7.8 HKD to 1 USD. This fixed exchange rate system has provided a level of stability for the currency, making it a preferred choice for international trade and investment.

The economy of Hong Kong is one of the most open and dynamic in the world, relying heavily on services, finance, and international trade. As such, the HKD is a key player in regional commerce, with its value often influenced by global market trends, the performance of the Chinese economy, and US monetary policy.

What is North Korean Won (KPW)

The North Korean Won (KPW) is the official currency of North Korea, abbreviated as KPW, and represented by the symbol "₩". It is further divided into 100 chŏn, though the chŏn are virtually obsolete. The Won was first introduced in 1947, replacing the Korean Yen at a rate of 1 Won for 15 Yen after Korean independence.

Understanding the KPW can be complex, primarily due to North Korea's unique and highly controlled economic system. The country operates under a state-controlled economy, where the government has significant influence over prices and salaries. As such, the KPW is not freely convertible in the international market, and its exchange rates may differ, especially between the official rate and the black market rate.

While the KPW's value can be affected by various factors, including international sanctions, trade policies, and economic reforms, it remains a crucial tool for internal transactions within North Korea. Foreigners visiting the country are typically required to use foreign currencies or special credits that can be spent in designated shops.

Conversion from HKD to KPW

To convert Hong Kong Dollars (HKD) to North Korean Won (KPW), you need to be aware that the exchange rate can vary significantly due to different economic conditions and policies in North Korea. As of the latest data, the approximate conversion rate is

1 HKD ≈ 1,600 KPW

However, given the lack of reliable exchange mechanisms and the illegal nature of many conversions, it is vital to consult updated sources or financial institutions that deal specifically with this currency pair. When dealing with such unique currencies, always approach with caution and ensure you have the latest information before making any transactions.