KPW

AAA

DEFINITION of 'KPW'

The currency symbol or currency abbreviation for the North Korean won (KPW), the currency for North Korea. The won is divided into 100 chon and is often presented with the symbol (W). The word "won" is a hybrid of the Chinese word "yuan" and Japanese "yen".

INVESTOPEDIA EXPLAINS 'KPW'

The won was first seen in 1947, replacing the previous Korean yen. It underwent a 100-to-1 revaluation in 1959. The North Korean government abandoned the set exchange rate with the U.S. dollar in 2001, and the real exchange rate has dropped precipitously since then.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Hard Currency

    A currency, usually from a highly industrialized country, that ...
  3. Forex - FX

    The market in which currencies are traded. The forex market is ...
  4. Money

    An officially-issued legal tender generally consisting of currency ...
  5. ISP (Internet Service Provider)

    A company that provides consumers, businesses, and other Internet ...
  6. TIMP (acronym)

    'TIMP' is an acronym that stands for 'Turkey, Indonesia, ...
Related Articles
  1. What Causes A Currency Crisis?
    Forex Fundamentals

    What Causes A Currency Crisis?

  2. The Greatest Currency Trades Ever Made
    Forex Education

    The Greatest Currency Trades Ever Made

  3. The New World Of Emerging Market Currencies
    Forex Education

    The New World Of Emerging Market Currencies

  4. How Bitcoin Casinos Work
    Investing Basics

    How Bitcoin Casinos Work

comments powered by Disqus
Hot Definitions
  1. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  2. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  3. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  4. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  5. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
  6. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
Trading Center