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SEOUL, South Korea — North Koreans set piles of old bills alight in anger over their government’s surprise move to redenominate the national currency, a report said, a sign of growing frustration among citizens left with hoards of worthless bills.
On Monday, the communist government informed citizens and foreign embassies that it would redenominate the national currency, the won. But it limited the maximum amount of old bills that could be converted into new ones, telling residents to deposit the rest in government-run banks, according to media reports and diplomats.
There are widespread doubts among North Koreans whether they would be able to get their money back, they said.
