North Korea shuns dollar, welcomes euro

China’s Xinhua news agency reported that foreign exchange banks, international institutions and other FX services would receive no US dollars from the state-owned Korea Trade Bank from the start of this month.

North Koreans and foreigners will have to convert dollar accounts into euros or other currencies. Any individuals who fail to declare dollar holdings will have their accounts switched automatically, the bank said.

The US halted oil shipments to North Korea following the Asian nation’s

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