KRW · ₩
South Korean Won (KRW)
The South Korean won (KRW) is the official currency of South Korea, issued by the Bank of Korea. This page provides an overview of its history, denominations, and role in the global economy.
Convert this currency
Converted amount
0.0007 USD
Exchange rate
1 KRW = 0.000706 USD
Updated
8/9/2026 12:00 AM
Source
ApiForex Managed Source 3
KRW · South Korean Won
South Korean Won (KRW): Overview and History
The South Korean won (KRW) is the official currency of the Republic of Korea, issued and managed by the Bank of Korea, the country's central bank. The won was introduced in 1945, replacing the Korean yen, and has undergone several reforms, including a major redenomination in 1953 and the introduction of the current won in 1962. The currency is subdivided into 100 jeon, although jeon is no longer used in everyday transactions.
Banknotes are issued in denominations of 1,000, 5,000, 10,000, and 50,000 won, while coins are available in 10, 50, 100, and 500 won. The Bank of Korea is responsible for monetary policy, aiming to maintain price stability and support economic growth. The won is a freely floating currency, and its exchange rate is determined by market forces.
South Korea has one of the largest economies in Asia, and the won is widely traded in international foreign exchange markets. The currency plays a significant role in regional trade and finance. For travelers and businesses, understanding the won's history and current usage is essential for financial transactions in South Korea.
- Code
- KRW
- Symbol
- ₩
- Current rate
- USD / KRW
Currency information
Last updated · 8/7/2026
Introduced on June 12, 1962, replacing the hwan at a rate of 1 won = 10 hwan.
- Official name
- South Korean Won
- Legal tender status
- Legal tender in South Korea
- Decimal places
- 0
- Minor unit
- Jeon · 1 KRW = 100 Jeon
- Countries
- South Korea
- Issuing authority
- Bank of Korea
- Central bank
- Bank of Korea · Official website
- Exchange-rate regime
- Free-floating
Common banknotes
₩1,000 · ₩5,000 · ₩10,000 · ₩50,000
Common coins
₩1 · ₩5 · ₩10 · ₩50 · ₩100 · ₩500
Also known as
Won · South Korean won · KRW · ₩ · Won sud-coréen
Practical notes
- The symbol ₩ is used.
- The currency is issued by the Bank of Korea.
Priority currency pairs
The most useful conversions for this currency.
South Korean Won questions
What is the KRW exchange rate?
The displayed rate is the latest available reference rate for USD/KRW. It can change throughout the day.
How can I convert KRW online?
Use the converter above to calculate indicative amounts between KRW and the other supported currencies.