Convert AUD to KRW Exchange Rate

The lowdown on the South Korean Won

Economical Influences and the South Korean Won

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.²

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.²

South Korean Won Historical Exchange Rate

Over the past 4 years, the South Korean won has fluctuated seasonally. In January 2016, 1 AUD was buying around 838.46802 KRW. Fast forward to September 2017 and 1 Australian dollar would get you around 900.05429 South Korean won. The won fluctuated to 824.52058 KRW by December of the same year. As of 23 August 2018, 1 AUD was buying around 823.90740 KRW.²

Learn more about the South Korean Won before you travel to South Korea and create a currency rate alert so we can notify you when it hits your ideal exchange rate.

<sup>Sources:
1. Triennial Central Bank Survey - https://www.bis.org/publ/rpfx16fx.pdf. Based on 2016 data.
2. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/ks.html
3. XE - https://www.xe.com/currencycharts/?from=AUD&to=KRW&view=5Y Based on mid-market rates as of 23rd August 2018.</sup>

^{*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 Limited (ABN 36 004 179 953, AFSL Number 222444) 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.}