100,000 Won to USD in 1998: A Look Back at the Exchange Rate
In 1998, the world was a different place. The economy was booming, and the currency exchange rates were vastly different from what we see today. One interesting conversion to explore is the South Korean won to the US dollar. Specifically, let's take a look at how much 100,000 won was worth in USD in 1998.
The Exchange Rate in 1998
In 1998, the exchange rate between the South Korean won and the US dollar was roughly 1 USD = 1,140 KRW. To convert 100,000 won to USD, we can use this exchange rate.
The Conversion
100,000 KRW ÷ 1,140 KRW/USD = approximately 87.72 USD
So, in 1998, 100,000 won was equivalent to approximately 87.72 US dollars.
Economic Context
The late 1990s were marked by a series of economic crises, including the Asian financial crisis, which affected many countries in the region, including South Korea. The won was heavily devalued, leading to high inflation and economic instability. This had a significant impact on the exchange rate, making the won worth fewer US dollars.
Conclusion
In conclusion, 100,000 won in 1998 was equivalent to approximately 87.72 USD. This conversion gives us a glimpse into the economic climate of the time and the significant changes that have occurred since then. The won has strengthened significantly since then, and the exchange rate has fluctuated greatly over the years.
