Currency rates · Figures on this page update automatically.
The rate shown here is the mid-market dollar-won rate — the midpoint between the bid and the ask that large banks quote each other in the interbank market at this moment. It is the rate news outlets cite and the most neutral single reference point, but it is not one a retail customer is offered. Whether you buy won at a bank counter, an airport booth or with a card, the rate you get sits some distance from this midpoint, because the provider's margin is built into it.
What does mid-market rate mean?
It is the exact middle of the buy and sell prices quoted between banks trading with each other. Retail customers are not offered the midpoint; it exists as a neutral reference against which other quotes can be measured.
Why is my bank's rate worse than this one?
Banks and exchange counters quote a spread around the mid-market rate, and that spread is how they are paid, alongside any explicit fee. The wider the spread, the further your rate sits from the figure above.
When does the Korean won actually trade?
The onshore won market trades on Korean weekdays, and its hours now extend well beyond the traditional Seoul business day following reforms in recent years. Offshore trading in the won, largely through non-deliverable forwards, runs nearly around the clock, so rates quoted while Korea is closed come from that market and can move before domestic trading resumes.