The lowdown on the South Korean Won
Economical Influences on the Korean Won Exchange Rate
If you are considering converting AUD to KRW, it is good to get a snapshot on how the economy may influence the South Korean exchange rate.
The South Korean won is the 15th most-traded currency in the world.1 The economy has seen rapid growth over the past century, emerging from the Korean War to become successful, developed and globally connected. The country relies heavily on its exports, rather than domestic consumption. In 2004 South Korea joined other dynamic world economies in the trillion-dollar club.1
The election of President Moon Jae-in in 2017 assisted in consumer confidence; thought to be related to his successful efforts to increase both wages and government spending. This confidence helped growth in exporting sectors, leading to a 3% increase in South Korean GDP despite trade disruptions with China.1
South Korean Won Historical Exchange Rate
The KRW has performed significantly better since 2014; on 31 March 2014 the NZD was worth around 927.49 KRW, however on 6 October of the same year the KRW worth had strengthened and the NZD was now worth 820.06110 KRW.2
A year later on 12 September 2015 the KRW has improved further with 1 NZD worth 746.43705 KRW.2
By 28 January 2017 the KRW had fluctuated again, and the NZD was now buying around 856.65 KRW; but by 8 December of the same year that number had stabilised down to 746.36504 KRW per NZD.2
On 24 July 2018 the NZD was worth around 768.40 KRW and as of 18 January 2019 the NZD was buying 758.93641 Korean won.2
Exchange rates last updated Tuesday, 23 July 2019 11:33:14 a.m. NZST. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: Last month
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 3 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 6 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 12 months
How to see Travelex historical rates
If you would like to see Travelex historical rates, please select one of the currencies
1. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/ks.html
2. XE - https://www.xe.com/currencycharts/?from=NZD&to=KRW&view=5Y
*The information contained in this article has been compiled by Travelex from different different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex NZ Limted arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.