Yuan loses ground against dollar as North Korean market prices keep falling
Market prices in North Korea fell for a fourth consecutive week in late September 2026, as a fresh corn harvest and easing exchange rates pushed down the cost of grain, fuel and imported food. The pace of the decline has slowed since early September, however, and traders are watching the upcoming Party Foundation Day holiday. […]
In North Korea, steady declines in corn prices due to a new harvest and lowering exchange rates have led to a 4.2% drop in corn prices since early September, according to Daily NK’s market price survey. Corn in Hyesan and Pyongyang markets declined from 16,000 to 16,000 won per kilogram. Meanwhile, rice prices, while still falling, have done so at a slower pace, reversing a recent trend.
The slower price decline in rice is attributed to the depletion of holiday grain supplies received ahead of major holidays like Chuseok and North Korea’s founding day. Exchange rates have also declined, with the yuan losing value against the dollar in North Korean markets. The dollar weakened slightly against the North Korean won, while the yuan fell more noticeably.
Private money changers in North Korea are increasingly considering the yuan overvalued compared to the dollar, leading to adjustments in the cross rate between the two currencies. These factors have contributed to a stabilization of market prices in recent weeks, but price swings could return as supply and demand adjust around upcoming holidays.
Written by urgent.news from Daily NK's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
