Report: North Korea cracks down on foreign currency transactions By (0) North Korea's informal economy relies heavily on foreign currency transactions involving the Chinese yuan or the U.S. dollar, but the country could be banning the exchanges, according to a Japanese press report on Tuesday. File Photo by Stephen Shaver/UPI | License Photo Dec. 29 (UPI) -- North Korean authorities may have banned the use of foreign currency in informal markets, where ordinary North Koreans generate most of their income, according to a Japanese press report. Citing South Korean government sources, the Asahi Shimbun reported Tuesday North Korea's ban on currencies like the U.S. dollar and the Chinese yuan apply to the more than 500 marketplaces. North Korean buyers and sellers mostly accept foreign currencies for transactions, according to the report.