1 AUD = 796.83 KRW
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AUD/KRW Exchange Rates and Providers Compared
This guide to the Australian Dollar to South Korean Won exchange rate with 90-day chart & alerts, historic rates, forecasts and AUD to KRW comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our AUD/KRW Quick Calculator.
Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for AUD/KRW International Money Transfers. Costs are calculated against the current interbank mid-rate.
| Foreign Transfer Providers | Receive KRW(₩) | Exchange Rate | Fee AUD | Total Cost | Deal Links |
|---|---|---|---|---|---|
 | ₩7,743,800 Best Overall | 774.38 | 0^ | 4.17% | |
 | ₩7,736,000 ₩7,800 less | 773.6 | 0 | 4.26% | |
 | ₩7,393,800 ₩350,000 less | 739.38 | $10 Home Delivery & AusPost collect | 8.5% | |
Banks - Average Rate   Average Bank Rate | ₩7,460,293 ₩283,507 less | 747.07 | 15 | 7.68% |
Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.
| Travel Money Providers | Amount KRW(₩) | Exchange Rate | Fee AUD | Total Cost | Deal Links |
|---|---|---|---|---|---|
Banks - Average Rate  Average Bank Rate | ₩750,361 ₩13,575 less | 757.94 | 10 | 7.14% | |
 | ₩732,931 ₩31,005 less | 732.9305 | $0 BPay, Card 0.72%-1% | 9.3% | |
 | ₩697,644 ₩66,292 less | 697.644 | A$0 | 13.66% |
AUD and KRW in the Markets
When determining the best time to make a foreign exchange transaction, in this case the AUD vs KRW, you should pay attention to the recent market trends for both currencies.
Australian Dollar (AUD)
Growing fears of the coronavirus outbreak has moved the market into safer currencies such as the USD and away from AUD, NZD and CAD.
The threat of proxy war between the US and Iran in Iraq also pared back some of the gains the Aussie had made coming into the New Year.
The Australian dollar had started the new decade strongly climbing to multi-month highs helped along by cooling trade tensions between the United States and China and optimism for global economic growth in the year ahead.
The Aussie broke back over US70 cents on the final day of 2019 — a level not seen since mid year. During December the Australian dollar reversed direction (again) and climbed steadily back up against the US dollar on the back of the strength of the housing market and a market perception that further interest rate cuts were less likely. In November it had been all downhill traffic for the Aussie dropping back from highs close to 70c at the beginning of the month to around 67c against the USD by month end.
At the end of October the AUD had surged to a three month high against the US dollar following the third rate cut in a year by the US Federal Reserve. The gains were mainly due to the fall in the US dollar after the market sensed that US rates are more likely to rise now than fall further.
The RBA also added to the positive sentiment with an optimistic assessment of easing risks from the US-China trade war and Brexit. Accordingly markets are pulling back from bets that the cash rate will drop to 0.5 per cent and the possible start of quantitative easing.
Interestingly, AUD has decoupled from commodity prices in 2019. The price of iron ore (Australia’s largest export) nears multi-year highs while AUD languishes.
Further RBA interest rate cuts this year are now a certainty, and that doesn’t bode well for currency valuations.
For AUD forecasts and predictions read our Australian Dollar Forecasts report.
Read more in the article AUD Forecasts.
South Korean Won (KRW)
The South Korean won has been the worst-performing Asian currency in 2019.
In the first five months of the year, the won lost 6 percent of its value against the dollar on its way to a 2-year low of ₩1,190, and lost 4 percent against the euro, with weakness driven by falling exports and an alarming drop in South Korean inflation, both of which drove expectations for an interest rate cut by the Bank of Korea. In addition, the won is one of those currencies being used as a proxy for risk, particularly for risks relating to US-China trade.
The Bank of Korea has warned traders that it will intervene in markets to prop up the won should the rate of currency depreciation accelerate, though interventions will be “mild.”
In late May, Bank of America Merrill Lynch predicted a reversal in won weakness. It said that it was “just a matter of time” before investors again focused on South Korea’s strong fundamentals. The bank expects USD/KRW to fall 7 percent in the second half of the year to ₩1,110.
Why can't I just get the AUD/KRW market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the AUD / KRW was traded (bought or sold) in the international markets.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
We help you Compare & Save Money on Exchange Rates.
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