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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Best Places For Highest Bungee Jumping In India – Adventure Guide

BY Shahnawaz AlamAug 22, 2022

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The funniest part of all is that they offer you a certificate saying that you have overcome your fear of heights. Location: Maharashtra, Della Adventures in Lonavala. Bungee Jump Height: 45 m Minimum Age: 10 years Cost Per Jump: INR 1500 3. Ozone Adventures, Bangalore If you love adventure, then you will love Bungee jumping from a crane. Yes, unlike the other locations, Ozone Adventures offers you the highest Bungee jumping in India from a height of 80 ft. Most interestingly, the equipment is attached to a 130 ft tall crane. Doing Bungee jumping from a crane/ unfixed platform makes it riskier for jumpers. The staffs here are helpful, and they offer to take all the precautionary measures before you jump and also give you valuable instructions before you make your jump. Location: Ozone Adventures, St. Mark's Road, Bangalore, Bangalore Bungee Jump Height: 25 m Platform and 40 m Crane Minimum Age: 18 to 60 years. Cost Per Jump: INR 400 4. Gravity Zone, Goa Beach hopping is not the only thing you can do in Goa. You can also go bungee jumping. It is not the highest bungee jumping point in India, but Anjuna beach has its reasons for the attraction. If you are new to bungee jumping, then this is indeed the place you can go to. Gravity Zone is a 25 m high tower and is perfect for first-timers to experience Bungee jumping. Compared to other locations, it is a smaller location for jumping. Also, the place does not charge you too much. Location: Gravity Zone, Anjuna Beach, Goa. Bungee Jump Height: 25 m Minimum Age: 14 years Cost Per Jump: INR 500 5. Chhattisgarh, Jagdalpur Another good and less overwhelming place to try Bungee jumping is Jagdalpur. If you are afraid of heights and still want to try out bungee jumping, then this is not the highest Bungee jumping in India to scare you too much. You can fight your fear of height from the 30 m bungee jumping location. Location: Jagdalpur, Chhattisgarh. Bungee Jump Height: 30 m Minimum Age: 14 years. Cost Per Jump: INR 500 Read Also: Top 5 Best Coffee Shops Of India In 2022 – Must Read! 6. Wanderlust, New Delhi If you are from Delhi and thinking of going to other states to try out bungee jumping, then we have good news. Wanderlust in New Delhi offers this sporting activity. Most interestingly, the equipment for jumping is imported from Japan. The crew there are trained from Germany. The jumping equipment is attached to a 130 ft high crane. They also provide you with a certificate and a T-shirt and cap. Location: Wanderlust, New Delhi Bungee Jump Height: 52 m Minimum Age: 14 years. Cost Per Jump: INR 3000 Read Also: Which Is The Largest Freshwater Lake In India? Bungee Jumping Reviews: What People Think Here are some real-time reviews from real people who have tried Bungee jumping in India: "I had a wonderful experience with Jumpin Heights( mohanchatti) and the mixed emotions that one goes through while doing the free fall cant be expressed. I did my giant swing with them and only their professional attitude and expertise over the years gave me the confidence to just have trust and faith in them and take the leap. They were kind enough to accomodate my last min request to do Bungee as well as the slots were full online but the 15 mins trek back to the cabin were quite exhausting for me to attempt the other activity. I only have good things to say and wholly grateful to them to give me memories for a lifetime. Keep shining guys✨✨You are truly the Best in what you do👍🏻❤️" -nidhi j "Located approximately 4 kms from lonavla station, must visit place of lonavla, during rainy season it gets full and overflowing, but during winter and summer it is quiet, peaceful and enjoyable with family, but there is no area to sit or chairs not available, no option for having food, only local sellers like chips, corn, ice cream cycles etc are there." - jigneshvcj "I witnessed heaven! Thanks to WanderOn! Our team captain- Sandeep was just excellent and so was my initial point of contact - Varsha. All the details were given before hand. I chose - Kasol-Rudranag-Manali package and I feel blessed for all the joy this trip gave me. Sandeep was an excellent captain, a friend and a guide, didn't let me feel it was my first trek. The food was delicious and stay was comfortable. The view was spectacular and it felt heavenly. I loved Kasol-Rudranag part more as it was raw and real. Manali has a touch of city but it's beautiful in its own way. First trek, first snowfall, first time a gift to myself that I will cherish for life. Looking forward to many more treks with them. I wish them all the luck. If you are reading this to be sure, go ahead and book your trek, I promise you wont regret it. WanderMust with WanderOn and fulfil your Wanderlust." - angelverma19 Frequently Asked Questions (FAQs): If you are looking for the best bungee jumping locations in India, then these are the locations you may go to. However, here are some popularly asked questions and answers that I have answered. 1. What Is The Highest Bungee Jump? The highest Bungee jumping in the world is Bloukrans Bridge in the Western Cape of South Africa. It is the highest commercial and natural Bungee jumping in India. 2. Does A Bungee Jump Hurt? Indeed it is a thrilling and recreational activity. But, some free fallers experience serious injuries like compression fractures or herniated discs. Other serious injuries might also happen from Bungee jumping.  3. What Is The Cost Of Bungee Jumping In Rishikesh? If you are going to Jumpin Heights, then you will be charged INR 3500 for Bungee jumping. The entry ticket costs you 100 rupees. But, if you also want to do Giant Swing, you will be charged Rs 6500. A bungee jump and Flying fox combo cost you Rs 4750. 4. Where Is The Scariest Bungee Jump? If you are looking for the scariest bungee jumping location, then you have to go to Macau Tower ( 764 feet in China). You will definitely be thrilled and have goosebumps. Bottom Line When looking for the highest Bungee jumping in India, you need to first visit Rishikesh. It is the best location for Bungee jumping from the highest location in India. The experience is thrilling, and you should be ready to feel your heart in your throat. All the bungee jumping locations talked about in this article are great to experience. Did you decide on where to go on Bungee jumping? 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Are You Looking For A Latin American Restaurant In Miami? – Top 12+ Lists

BY Barsha BhattacharyaFeb 15, 2023

Are you craving some Latin American food in Miami right now? Are you wondering which Latin American restaurant to visit in Miami? Don’t worry because we have managed to find the best Latin American restaurants in Miami. And trust us, you will have a great time trying out the food in these restaurants. Stay tuned to find out about the best Latin American restaurants located in Miami! Are You Looking For A Latin American Restaurant In Miami? - Top 12+ Lists Welcome to Tour And Travel Blog’s favorite Latin American restaurants in Miami. You don’t need to type ‘Latin American restaurant near me’ on Google. Instead, you can sit back and scroll down to find out which are the best restaurants serving Latin American food in Miami. So without wasting any time, keep reading and satisfy those mouthwatering cravings ASAP! 1. Luis Galindo Latin America Restaurant: If you are a sucker for home style Cuban sandwiches, breakfasts, and other dishes, then you can’t miss out on Luis Galindo Latin America Restaurant. You will love this Latin America restaurant - plus, you will find a cute bakery right next to the restaurant! Review By Swaroop Krothapalli: The Cuban coffee I had here is one of the best. I had great expectations of the tostones. They weren't up to the level I expected. The shrimp, fish, and grilled chicken are good. The chicken dish had a lot of oil. Overall definitely worth a try. The service was fast too. 2. Latin American Bakery & Cafe: One Latin American restaurant that really impressed us was a local eatery called Latin American Bakery & Cafe. They serve some really tasty Cuban breakfasts, empanadas, desserts, and sandwiches. You will also find some really refreshing drinks here. Review By Norman Davis: Ah, so good! I had a late dinner and enjoyed every bite! The beef with onions was so tender, and the sweet, fried plantains were addictive. My wife ordered the chicken and cilantro soup--what a treat! And so many delicious dessert options. We came back the next night! Parking: Small lot, but we found a spot each time we visited. 3. Latin Cafe 2000: If you love Cuban meals casually cooked, then you have to visit Latin Cafe 2000. One of our favorite Latin American restaurants, Latin Cafe 2000, also serves fresh sangria, beer, and wine in an easygoing environment. Review By Peter Echs: I came here looking for an authentic Cuban experience, and it didn't disappoint. The service was excellent. The food came out quickly, and the steak was cooked perfectly (medium). We ordered the churrasco steak with a side of yucca and garden salad. Shrimp ceviche was also excellent, along with the plantain chips. 4. El Rinconcito Latino Coral Way: El Rinconcito Latino Coral Way is a Latin American restaurant known for serving Caribbean and Cuban meals in modest, unpretentious surroundings. If you love modest restaurants serving good food, then you have to visit El Rinconcito Latino Coral Way. Review By Gioconda Vidal: This is my favorite location out of all "Rinconcito." The place is spacious, the service is usually fast, the waitresses are nice, and most importantly, the food is really good. I have been to this place for breakfast and lunch multiple times, and every time was a great experience. The food, in general, is good. A really good and affordable place to eat ? 5. Bocas Grill Brickell: We always love a good Latin American restaurant menu, and Bocas Grill Brickell has a crazy menu! We absolutely loved the food, the vibe, and the staff. It was a really good experience visiting this restaurant, and we might just be back soon. Review By Andy & Bethany Layton: This place is great! 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We had a bad experience at the airport the day we went to this restaurant. The service and food lifted our spirits right back up. I had lamb shank in an amazing sauce. My wife had an awesome and delicious salmon. I highly recommend this restaurant. 12. Catharsis: Do you love arched walls and enjoy soft lighting? Are you looking for a pretty, romantic hideaway in Miami? Are you searching for South America restaurants in Miami? How about combining all three? Catharsis is the answer you have been looking for - you will love the Latin American wine and cuisine here! Review By Diego DiSanti: People are either dumb or really stupid, giving bad reviews based on a TV show they watched called mystery dinners, and they have never been to the restaurant. Really? Anyone who is smart enough knows that most TV reality shows are fake and made-up stories. It is a way to entertain and advertisement to the restaurant. 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OMG! THIS Is The FintechZoom Best Travel Credit Card 2024| Travel Finance Guide

BY Sibashree BhattacharyaSep 5, 2024

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It is crucial to get the sign-up bonus if you want to increase your rewards balance.  Further, make sure that the minimum amount you need to spend for the sign-up bonus is within your budget.  Look at the Annual Fee Is your travel credit card waiving off the annual fee for the first year? Or does it offer annual credits?  These are some of the factors that you need to consider to get the best travel credit card. Also. ensure that the perks and rewards of your card are more than the annual fee you pay.  Know About The Foreign Transaction Fees Benefits Foreign transaction fees are bothersome for international travelers. So, waiving foreign transaction fees is crucial if you travel to other countries frequently.  Flexible Redemption Options Flexibility and versatility in redemption options are important while using a travel credit card. The best one will allow you to transfer points to hotels and airline partners.  Of course, the option of redeeming your points as cashback or gift cards is always available.  FAQs About FintechZoom Best Travel Credit Card 1. What makes FintechZoom’s travel credit card recommendations reliable? FintechZoom is famous for its objective and accurate reviews. Further, FintechZoom has reviewed factors, such as sign-up bonuses, redemption points, travel benefits, and annual fees, to suggest the best travel credit cards for us.  Also, the FintechZoom travel credit card suggestions cater to all types of travelers and their different requirements.  2. Can I have more than one travel credit card? Yes, you can have more than one travel credit card. Each card comes with its unique reward redemption benefits and bonuses.  If you are an aware user, you will know the perks of each card and which one will be the most suitable for the type of travel expenses you are making now.  So, use your cards strategically to optimize your travel benefits and earn more points.  3. How can I maximize my travel rewards with the FintechZoom best travel credit card? You can follow simple tricks to optimize your travel credit card benefits.  Know and use the sign-up bonuses. Pay your credit card bill in full and final at the end of every month. Know and transfer the transfer points and transfer them to travel and airline partners for optimized benefits.  4. Are there any downsides to using the FintechZoom best travel credit card? Yes, some travel credit cards can have downsides in the form of high annual fees and APR. Also, the interest rates of these credit cards increase in leaps and bounds if you don’t pay the monthly bill in full. Therefore, you have to be mindful of your financial state and control your spending habits before you apply for a credit card.  Also read Why Include Whale Watching In Your LA Itinerary. Traveling On A Budget: Tips For Affordable Adventures. From Cocktails To Kickflips: Must-Try Activities In San Diego.