North Korea comes up with most brilliant economic idea yet

Under the new system, an old 1,000 North Korean won note will now be worth just 10 won…

But there appears to be a limit on how much can be exchanged – one report says each adult can cash in only 100,000 won…

That means each adult can exchange about US$740-worth (£445) of won.

Many residents are reported to have reacted with anger and panic because any cash held above that figure will be worthless – effectively wiping out people’s savings.