1 Dollar in South Korean Currency
Understanding the South Korean Won (KRW)
The official currency of South Korea is the Korean Won (KRW). It is subdivided into 100 jeon, but jeon are no longer used in everyday transactions due to their low value. The Korean Won is issued by the Bank of Korea, the central bank of South Korea.
Exchange Rate: 1 USD to KRW
As of the current exchange rate (1 USD = approximately 1,200 KRW), if you exchange 1 US dollar, you would get around 1,200 won in South Korean currency. However, please note that exchange rates can fluctuate frequently, so it's always best to check the current rate before exchanging your money.
Denominations of Korean Won
The Korean Won comes in various denominations, including:
- Coins: 10, 50, 100, and 500 won
- Banknotes: 1,000, 5,000, 10,000, and 50,000 won
Using 1 USD in South Korea
With 1,200 won (approximately 1 USD), you can buy some small items or snacks in South Korea, such as:
- A bottle of water or a can of soda: 500-600 won
- A packet of snacks or a small pastry: 500-800 won
- A ride on the subway or bus: 1,200-2,000 won (depending on the distance)
Keep in mind that prices can vary depending on the location and type of store or restaurant.
Tips for Exchanging Money in South Korea
- You can exchange your money at a bank, currency exchange office, or a hotel.
- Make sure to have your passport with you when exchanging money.
- Credit cards are widely accepted in South Korea, but it's still a good idea to have some cash with you, especially for small purchases.
- You can also withdraw won from an ATM using your debit or credit card.
Remember to always check the current exchange rate and be mindful of any exchange fees or commissions when exchanging your money in South Korea. Happy travels!
