All You Need To Know About Korean Currency Rate And Money

May 19, 2023

Last Updated on: Sep 17, 2024

Travel Guides

For avid travelers and investors, the Korean currency rate can be a fascinating topic of discussion. Understanding the fluctuations of the won against other currencies can give insights into its economy.

Likewise, it could say much about Korea’s political developments and investors’ sentiment in the market.

This article will explore everything about the Korean currency rate. As such, we will cover the basic conversion rates to the impact of major events on the Korean economy.

History Of Korean Currency

South Korean currency has rich historical data that dates back to the early dynasties of Korea. It all started with the use of cowry shells and pearls as currency. As time passed, metal coins and paper money became popular.

The Japanese occupation of Korea introduced the Japanese yen as the official currency. Yet, in 1945, the Korean won was introduced and became the official currency.

Interestingly, the won was initially divided into 100 jeon, but the jeon was eliminated in 1960. The won has undergone many transformations to ensure price stability and economic growth. In modern times, the South Korean won is the official currency used in South Korea.

Today, the value of the South Korean won fluctuates with the global exchange rates. It’s one of the world’s top 20 currencies by value.

Current South Korean Won Exchange Rate

Knowing the latest exchange rate for the Korean won can be helpful in budgeting and forecasting your finances. As of January 2023, the exchange rate for Korean won is fluctuating depending on the global market and demand.

Below are some of the latest conversion rates:

  • 1 US dollar = 1,315.29 Korean won (USD to KRW)
  • 1 Australian dollar = 893.35 Korean won (AUD to KRW)
  • 1 Chinese yuan = 192.07 Korean won (CNY to KRW)
  • 1 Japanese yen = 9.90 Korean won (JPY to KRW)

However, exchange rates may vary depending on banks’ locations and policies.

Check exchange rates online through various currency converter websites to ease the currency conversion. Alternatively, download an exchange rate or currency calculator app. With these tools, you can convert your dollars to South Korean won (USD – KRW) or any other currency at the current rate.

Banknotes And Coins

Banknotes and coins in South Korea are not only used for daily transactions. Yet, they also hold significant cultural value. As such, these banknotes come in different denominations and colors.

For instance, the 1,000-won note features a Confucian scholar. Then, the 10,000 won note features Admiral Yi Sun-sin, known for his naval victories against Japan.

Meanwhile, the 50,000 won note features Shin Saimdang, a prominent female artist. Besides that, she was the mother of the famous Korean painter Yi I. These banknotes represent important historical figures and showcase various artistic designs.

Similarly, Korean coins are equally fascinating, with 10, 50, 100, and 500 won denominations. Each coin features a different symbol that holds cultural significance.

The 500-won coin features the portrait of King Sejong, who invented the Korean alphabet. Meanwhile, the 100-won coin features the image of a crane, symbolizing longevity and good fortune in Korean culture.

When visiting South Korea, carry some local currency as most stores prefer cash transactions. Foreign exchange markets are available in major cities, but it is crucial to know exchange fees as they vary.

Overall, banknotes and coins in South Korea hold monetary value and capture the country’s cultural heritage. Visit the Bank of Korea to learn more about their banknotes and coins.

Money-Handling And Etiquette

As with any country, knowing the cultural norms when handling money in South Korea is good. As such, for Koreans, money is not just a means but a representation of energy.

Below are some key points to note:

  • Cleanliness is crucial. Many Koreans believe money represents energy and keep their bills and coins as clean as possible. Hence, you will rarely see crumpled or dirty bills in circulation. Besides that, many Koreans carry cash and coins in wallets and change purses. For them, it is not just a convenient way to have cash but a way to keep it clean and maintain the money’s energy.
  • Respectful giving and receiving. When giving or receiving money, using both hands for respect is customary. This act is particularly true when exchanging money with older people or of a higher status than you.
  • No throwing or placing on the floor. Throwing money or putting it on the floor is considered disrespectful. If you drop a coin or bill, pick it up immediately. Likewise, people usually place money on a designated tray or hand it directly to the receiver.
  • Cash vs. Card. Credit cards are widely accepted in Korea. Yet, having some Korean won for small transactions or in areas that only accept cash is always good.

Keep this Korean currency rate information. Doing so will allow you to navigate financial transactions in South Korea with ease and respect for the country’s cultural norms.

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Abdul Aziz Mondol is a professional blogger who is having a colossal interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, he loves to share content related to business, finance, technology, and the gaming niche.

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Things To Do In San Marcos – Top Activities To Enjoy!

BY  sagnika Feb 9, 2023

Are you planning a trip to San Marcos? Are you wondering what are the best things to do in San Marcos? Do you worry about organising a pleasant trip? You don’t really need to worry because you have arrived at the right destination. We actually visited San Marcos recently. And guess what? It was a crazy trip - we met some amazing people, made some great memories, and came back home so happy. Keep reading, and you will soon have your trip planned - stay tuned! Things To Do In San Marcos - Top Activities To Enjoy Are you already typing ‘things to do in San Marcos tx’ on Google? Come on, stop! You know that one never really works out. There are just way too many search results - we were so spoilt for choice that we ended up wasting a whole lot of time. Fortunately, you don’t have to go through the same - you can just save this article and plan your trip accordingly. So without wasting any time, scroll down and checkout the best things to do in San Marcos! 1. 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So we didn’t literally do the ‘san Marcos things to do’ search to find out all the top premium outlets. You will not just have fun, but you will come back with some crazy clothes! Review By Paul S: This place is HUGE, it is best to go there with a plan of which shops you want to go to. When I was there, it was not so busy, and I could drive from quadrant to quadrant with easy parking everywhere I went. I would not want to be there on a busy day and have to walk the entire place. The range of shops is supreme, but many of them are not outlet or discount shops, so expect to pay full price unless you are a size XS or XXL and can buy off the clearance racks! 3. Central Texas Wing Of The Commemorative Air Force: choicehotels.com There are 7 CAF aircraft in the Central Texas Wing. If you love aircraft or these sorts of activities, then you will have a blast here! You will literally forget about all the fun things to do in San Marcos CA - because this is so much better. You just have to take out words for now, but once you are there, you will know. Review By Liz E: My husband and I popped in here en route to San Antonio to pass an hour, I think we were there for about 4 hours in the end! The guys who volunteer here are so enthusiastic, and we were given our own private tour of the museum. We were even lucky enough to see one of the planes go out on a test flight. I cannot praise these volunteers highly enough for keeping this facility going, and we feel like we have made life-long friends! 4. Wonder World Cave And Park: choicehotels.com One of the best things to do in San Marcos TX, is to visit the beautiful Wonder World Cave! This is the first show cave here, and tourists have enjoyed visiting this cave for over a hundred years now. The place has only evolved, and you will even find a park with several entertainment zones. Review By Viorica: We had a great visit. The cave is beautiful. 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Trek Bicycle North County There are many trails across San Marcos so you can just rent a bike and travel around the place! You can rent the bicycle which costs around $75 to $100 from 11 am to 6 pm. The North County in San Marcos is perfect for bike treks hence, it is convenient for outdoorsy people. You can go on a beachside adventure, events or culinary experience on your electric bike! There are many trails across San Marcos so you need to just go!  Review By Sheree C A fabulous ride peddling or not! As a family we really enjoyed it. All the little interesting stories along the way made it really fantastic. I would definitely recommend this experience. 9. Legoland Visit the iconic amusement park in San Diego when you have a trip planned to San marcos! If you have a child-like personality or have children accompanying you on the trip, this place will be perfect in the itinerary. 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BY  Abdul Aziz Dec 28, 2023

New Zealand, an enchanting realm of natural wonders and cultural richness, beckons discerning travelers to experience luxury like never before. For those seeking a truly personalized journey, Custom Luxury Travel of New Zealand by Into the Vineyard offers the opportunity to tailor every aspect of your experience to match your unique preferences. Nestled in the southwestern Pacific Ocean, New Zealand is renowned for its breathtaking landscapes, from snow-capped mountains to pristine beaches.  In this article, we embark on a journey through the epitome of opulence in New Zealand, exploring exclusive resorts, fine dining experiences, and bespoke adventures that elevate luxury travel to new heights. 1. Exquisite Accommodations and Resorts: 1.1 Huka Lodge – Taupo's Riverside Retreat Located along the banks of the Waikato River, Huka Lodge offers a retreat into nature, where the soothing sounds of the river complement the tranquility of the surroundings. 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Winter Camping In Canada: Tips For Cold-Weather Adventures

BY  Arnab Nov 20, 2023

There are many reasons to travel to Canada in winter. You might have heard people immigrating to Canada for business and job purposes. They provide better opportunity for the young generation with better life style. However, if you are focusing on that part, you need immigration advice before you take further steps. You can set off to iconic mountain resorts, visit a Christmas market, or spend time at an ice rink. At the same time, even more adventures await you if you are ready for winter camping.  The list of perfect cold-weather destinations in Canada is simply endless. Snow-covered Banff National Park in Alberta, untouched nature in the Northwest Territories, and mind-blowing Mont-Tremblant in Quebec to name a few. You will certainly appreciate the silent beauty of the snowy forest in February and January, especially at sunset or dawn.  So, it would be great to pick up a car rental in Toronto and go towards a winter fairy tale. 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Using layers correctly allows you to add or subtract layers throughout the day so you feel comfortable no matter what.  Start with wool or synthetic thermal underwear. Also, avoid cotton. Cotton absorbs moisture and loses all its insulating properties when you sweat, making you feel much colder. The job of thermal underwear is to wick sweat away from your body and keep you dry and warm.  Thus, apply insulating layers such as a fleece, light down jacket, or synthetic jacket as your middle layer to help keep you warm. The greater the middle layer retains heat, the better. Finally, cover the previous two layers with a windproof jacket with a waterproof membrane to keep you warm.  The outer layer also serves to remove moisture evaporated from the body. Don't skimp on a high-quality outer layer if you expect to encounter some serious wind and rain. If it doesn’t cope with its functions, you can become seriously hypothermic. 2. Make sure your sleeping bag can handle low temperatures  Canadian winter camping expeditions require a sleeping bag - this is the golden rule for a hassle-free overnight stay. The temperature label on your sleeping bag can be confusing. For example, if your sleeping bag can withstand +5°C, this doesn’t guarantee that you will feel warm at +5°C. The fact is that sleeping bags have two temperature conditions: a temperature at which a tourist should feel comfortable, and a lower temperature limit at which a sleeping man should feel comfortable.  Temperature values are approximate and depend on multiple factors. Just in case, take a sleeping bag rated for temperatures 5–10°C below expected degrees. You can also add an extra blanket over your sleeping bag to help keep you warm. 3. Select and prepare a place to pitch your tent  Setting up a camp in winter is much more difficult than in summer, so first of all, plan your time correctly - you should arrive at the overnight site at least 30 minutes before sunset. Then, choose the right campsite, prepare it, and set up the tent. Here are some important snow camping hacks to follow.  Place a tent in a sparse forest, on the edge, in a gentle depression between ridges  Remove snow from the area of the tent + 0.5 m around, remove the top layers or clear to the ground if the snow is not deep  Build snow walls around the camp, especially in open areas  Use special elongated winter pegs, which can be replaced with trekking poles  Make an entry from the leeward side 4. Bring all your essentials into the tent Be sure to bring shoes, a backpack with food, a first aid kit and hygiene products, and gas cylinders inside the tent. Plus, put things like your phone and power bank in your sleeping bag. This way you will better conserve charge. If your trekking socks are wet, dry them too.  5. Ventilate your tent The only thing worse than waking up frozen on a hike is waking up cold and wet. It may seem counterintuitive, but opening tent windows for cross-ventilation is among the top priority cold-weather camping essentials. How does it work? When warm, moist air in your tent or RV meets cold surfaces such as tent walls or car windows, condensation occurs. Small droplets of water form and everything becomes wet. Therefore, ensure air circulation in your tent and prevent condensation by opening entrances and windows slightly. 6. Warm up before going to sleep Before you go to bed, warm yourself by the fire or take a walk - whatever you can to warm up. Having a warm drink or snack before bed can also help keep you warm since the process of digestion warms you up from the inside. Just try not to sweat. 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Thus, be sure to change into a spare set before going to bed, and store it in a waterproof bag while hiking. 8. Use heating pads  A heating pad is definitely a must-have on a winter hike! That's why we advise you to stock up on such items. They are lightweight, easy to use, and provide gentle heat (about 50°C). You can choose among the following options:  Chemical heating pads. They are disposable, with enough heat to last all night and even in the morning (about 12 hours overall).  Reusable heating pads. Such items can radiate heat for about 2 hours. Then, you need to charge it by simply boiling it in water. A more advanced option is electronic heating pads with USB charging. Ultimately, use our winter survival techniques for your camping trip to Canada. Also, don't forget to adjust your plans to the current weather. The forecast can be changeable during the off-season, and you should be prepared for everything. 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