Historic South Korean Won South African rand

South Korean Won south african rand history for February 2024. The highest quote for this month is 0.01453 (23/02/2024) and the lowest 0.014635 (09/02/2024). The difference between high and low is -0.72.

KRW ZAR average rate for February 2024 is 0.01425, the change between 01/02/2024 and 29/02/2024 is -3.48 %.

01 February 20241 KRW = 0.0140 ZAR
02 February 20241 KRW = 0.0140 ZAR
03 February 20241 KRW = 0.0141 ZAR
04 February 20241 KRW = 0.0141 ZAR
05 February 20241 KRW = 0.0141 ZAR
06 February 20241 KRW = 0.0143 ZAR
07 February 20241 KRW = 0.0142 ZAR
08 February 20241 KRW = 0.0142 ZAR
09 February 20241 KRW = 0.0142 ZAR
10 February 20241 KRW = 0.0143 ZAR
12 February 20241 KRW = 0.0143 ZAR
13 February 20241 KRW = 0.0142 ZAR
14 February 20241 KRW = 0.0142 ZAR
15 February 20241 KRW = 0.0144 ZAR
16 February 20241 KRW = 0.0143 ZAR
17 February 20241 KRW = 0.0142 ZAR
18 February 20241 KRW = 0.0142 ZAR
19 February 20241 KRW = 0.0141 ZAR
20 February 20241 KRW = 0.0142 ZAR
21 February 20241 KRW = 0.0142 ZAR
22 February 20241 KRW = 0.0142 ZAR
23 February 20241 KRW = 0.0144 ZAR
24 February 20241 KRW = 0.0145 ZAR
25 February 20241 KRW = 0.0145 ZAR
26 February 20241 KRW = 0.0145 ZAR
27 February 20241 KRW = 0.0144 ZAR
28 February 20241 KRW = 0.0143 ZAR
29 February 20241 KRW = 0.0144 ZAR

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

27/10/2008: Global Financial Crisis

The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

01/01/1998: Establishment of IMF Program

South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.

03/12/1997: Asian Financial Crisis

The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

27/02/1980: Declaration of Martial Law

Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.

22/06/1962: Introduction of the Hwan

To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.

27/07/1953: Armistice Agreement

Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.

15/08/1945: Liberation from Japanese Rule

Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.
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