Tokyo - North Korea banned the use of foreign currencies after the government revalued the won last December, threatening to impose the death penalty on violators, a Japanese journalist who specializes in North Korean affairs said Monday.Jiro Ishimaru, founder and editor of Rimjin-gang, a magazine featuring reports and photographs by North Koreans living in the country, released a photo showing a North Korean government announcement on the ban dated Dec. 28.
The photo, taken in early January on the outskirts of Pyongyang by a contributor to the magazine, shows the notice was issued by the Ministry of People's Security on Dec. 28.
The notice announces a ban on the circulation of all foreign currencies as of Jan. 1 and urges members of the public who witness the illegal use of foreign currencies ''to immediately report to legal authorities.'' Ishimaru said the notice was apparently posted throughout the country but he believes the measure was relaxed by mid-February.
North Korea revalued the won last December and imposed restrictions on the quantity of old bills that could be converted into new ones. Under the revaluation, 1 new won is equivalent to 100 old won.
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