How to read USD to KRW
USD to KRW is the number of KRW (South Korean Won) that 1 USD (US Dollar) buys.
The European Central Bank publishes its reference rates against the euro, so USD to KRW is a cross rate, derived from the two published figures for USD and KRW. The rate for this pair is (KRW per EUR) ÷ (USD per EUR).
Who converts USD to KRW
The dollar to won pair is watched by exporters and importers in South Korea, by Korean students and workers in the United States, and by travellers heading either way. Because the won is quoted in whole units and each dollar is worth a large number of them, results look big and it is easy to misplace a digit when you convert by hand. Online shoppers buying from US stores and investors holding dollar assets use the pair as well.
Facts about this pair
- USD is ISO 4217 code 840 and KRW is code 410; the three letter codes are what the converter and the ECB use to tell currencies apart.
- USD is written with 2 decimal places and KRW with 0 decimal places in ISO 4217, so a result in KRW is rounded to 0 decimal places.
- The reverse pair is the reciprocal: the KRW to USD rate is 1 divided by the USD to KRW rate, apart from rounding.
The US Dollar and the South Korean Won
| Detail | US Dollar | South Korean Won |
|---|---|---|
| ISO code | USD | KRW |
| Symbol | $ | ₩ |
| Central bank | The Federal Reserve System | The Bank of Korea |
| Minor unit | cent, 1/100 of the main unit | jeon (not in use), 1/100 of the main unit |
| Used in | The United States and its territories, and it is official or widely used in some other economies such as Ecuador and El Salvador | South Korea |
It is the most widely held reserve currency, and many commodities, including crude oil, are priced in it. The jeon exists on paper but is not used in everyday payments, so won amounts are shown as whole numbers.
Getting a fair rate on USD to KRW
Card payments abroad can be billed in dollars or in won, and the choice often changes the rate used. When a terminal offers to charge you in your home currency, that conversion is run by the merchant's provider and is usually less favourable than your card network's rate. Compare the offered amount with the figure on this page before accepting.
For planning a stay in Korea, convert your daily budget once and round it to a simple working figure, such as the won amount for a meal or a day of transport. That is easier to use on the street than checking the rate repeatedly. For large amounts, such as a deposit on housing, ask the receiving bank how it converts incoming dollars and whether it applies a fee for the transfer.
The won is shown without decimals, so an amount such as a coffee or a train ticket appears as a whole number of won. Count the digits and separators carefully when comparing quotes.
Where the rate comes from
The rate loads in your browser from Frankfurter, which republishes European Central Bank reference rates. They are published on working days for information only, and a bank is not obliged to deal at them. If the service cannot be reached the page shows no number, except a rate saved in your browser within six hours, marked as cached. How the rates work is explained on the currency pairs page. Nothing here is financial advice.
FAQ
Why is the KRW result a large number?
One US dollar is worth many South Korean won, and the won has no decimal places in everyday use. A large figure is normal for this pair and does not mean the won is weak or strong by itself.
Where does the USD to KRW rate come from?
The European Central Bank publishes a daily reference rate for the won, and Frankfurter serves the dollar to won figure derived from it. The rate date is shown above the result.
Is this the rate I get at a Korean bank or exchange booth?
Not exactly. Banks and booths quote buy and sell rates around the mid-market rate and may add commissions. Use this page as the benchmark when you compare their offers.
How is the won amount rounded?
Results are rounded to whole won, because the won is used without decimals in daily life. The calculation itself uses the full precision of the reference rate.
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