Again the Won was fixed to the US Dollar with the peg rate changing multiple times until 1997, when it began to float freely in the market. In 1962, a second Korean Won was established, replacing the Korean Hwan at a rate of 1 KRW to 10 Hwan. In 1953, the Korean Hwan was introduced at a rate of 1 Hwan to 100 Won. Vacationers in South Korea can make conversions at the current. Due to the drastic drop in value, the currency was yet again replaced. The Markets Insider currency calculator offers a currency conversion from South Korean won to United States dollar within seconds. The Won was originally pegged to the US Dollar at a rate of 15 Won to 1 Dollar, with the peg rate changing multiple times until 1951. ![]() ![]() Under Japanese rule, Korea was forced to adopt the Korean Yen, replacing the Won at par.įollowing World War II, in 1945, South Korea established the Won as the country’s official currency, replacing the Yen at par. Current exchange rate SOUTH KOREAN WON (KRW) to US DOLLAR (USD) including currency converter, buying & selling rate and historical conversion chart. dollar (USD), the Japanese yen (JPY), and the euro (. The Bank of Korea was established in 1909, but changed its name to Bank of Joseon when Korea was annexed by Japan one year later. 1 The won is fully convertible and is routinely traded against other global currencies, such as the U.S. ![]() In 1902, the Won was introduced as the official currency of Korea, with an exchange rate of 1 Won to 5 Yang. The Mun was used for over two centuries, until it was replaced in 1892 by the Yang, the first decimalized Korean currency. In 1633, the Korean Mun, made up of copper and bronze coins, was made the principal currency of Korea. South Korean Won to US Dollar Exchange Rate is at a current level of 1347.86, down from 1356.41 the previous market day and down from 1439.15 one year ago.
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