04/06/2020: Exchange rate stabilization
Efforts were made to stabilize the exchange rate of the Djiboutian franc to reduce inflation and encourage economic growth.
01/09/2013: Replacement of coins with bi-metallic coins
Coins of lower denominations of the Djiboutian franc were replaced with bi-metallic coins.
01/07/2013: Exchange rate unification
North Korea unifies the official exchange rate and market rate, resulting in a significant depreciation of the won.
30/11/2009: Currency revaluation
North Korean government announces a currency revaluation, replacing the old won notes at a ratio of 1 for 100.
01/01/2002: Introduction of new banknotes
New banknotes of the Djiboutian franc were introduced with enhanced security features.
01/12/2001: Currency redenomination
North Korean won is redenominated, with the previous notes and coins being replaced by new ones at a ratio of 1 for 1,000.
15/09/1997: Second devaluation
The Djiboutian franc was devalued by 33% as a result of economic instability and high inflation.
25/02/1992: Introducing foreign exchange certificates
North Korea introduces foreign exchange certificates to counter hyperinflation and stabilize its economy.
06/12/1979: Second major revaluation
North Korean won undergoes its second major revaluation, with the exchange rate being set at 1 for 10.
08/05/1977: First devaluation
The Djiboutian franc was devalued by 50% due to economic difficulties faced by the newly independent country.
27/06/1973: Independence from France
Djibouti gained independence from France and the Djiboutian franc became the national currency.
31/12/1959: First major revaluation
North Korean won undergoes its first major revaluation, with the exchange rate being set at 1 for 100.
01/01/1949: Introduction of the Djiboutian franc
The Djiboutian franc was introduced as the official currency of French Somaliland, replacing the French franc at a 1:1 exchange rate.
06/12/1947: Introduction of North Korean won
North Korean won is introduced as the official currency of North Korea, replacing the Korean yen at par value.