All transactions conducted must be made using local currency (North Korean Won). However, as foreigners are not allowed to obtain Won, the shops and restaurants catering to visitors will exchange foreign currency into Won on site and at the official rate. Cash is the only acceptable form of payment, with the Euro and US Dollar being the most widely recognised and accepted currencies, although Chinese RMB can also be changed in some places. The import and export of local currency is prohibited. The import and export of foreign currency is not restricted, subject to declaration on arrival. Credit cards and travellers’ cheques are not accepted and there are no ATMs.