KRW Currency Converter

How it works

• Uses the mid-market rate, updated once a day.
• Banks in Korea usually add about a 1.75% spread for cash exchange; remittance apps vary.
• Your amount is never sent anywhere — only the rate table is downloaded.

FAQ

How much is 1 US dollar in Korean won?

Use the converter above — it shows the latest daily market rate for USD → KRW and the reverse.

Why is the bank rate different?

Banks and money transfer services add a spread or fee to the market rate.

Worked example

Example: at ₩1,338 per dollar, US$1,000 is about ₩1,338,000 at the mid-market rate. Buying dollar cash at a Korean bank adds a spread of about 1.75%, so you pay about ₩1,361,000. With a "90% preferential rate" coupon (환율 우대 90%), 90% of that spread is waived and you pay about ₩1,340,400.

Sending money abroad: overseas transfers use the "send" rate (about 1% above the mid-market rate) plus a transfer fee and sometimes an intermediary bank fee. Online remittance apps are often cheaper than bank counters for small amounts. Foreigners working in Korea can usually send up to US$50,000 a year without documents, but larger amounts may need proof of income.

Common mistakes

• Banks quote different rates for buying cash, selling cash, sending and receiving transfers.
• Spreads are higher for less traded currencies such as the Vietnamese dong or Philippine peso.
• Card payments abroad are converted at the rate on the day the card company settles them, plus overseas fees.
• Rates here update once a day. Check the bank rate right before exchanging large amounts.
• Airport exchange counters usually have the widest spreads; exchange in the city or order online in advance.

Explanation checked on 2026-10-30 · Spotted an outdated value? Tell us