Loading...

Home pages - full list (A-Z)

AUD/KRW - Convert Compare Save

Australian Dollar to South Korean Won exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

This resource page for the Australian Dollar to South Korean Won exchange rate, has news, forecasts and AUD to KRW comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

AUD/KRW Exchange Rates - How to Compare & Save

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 ProvidersReceive KRW(₩)Exchange RateFee AUDTotal CostDeal Links
OFX (OzForex) logo
7,933,700 KRW
Best Overall
793.370^3.85%
Commonwealth Bank (CBA) logo
7,820,905 KRW
112,795 KRW
782.566 5.22%
Banks - Average Rate
Commonwealth Bank (CBA) logo National Australia Bank (nab) logo
7,696,106 KRW
237,594 KRW
770.68156.73%
National Australia Bank (nab) logo
7,571,306 KRW
362,394 KRW
758.8228.24%
OFX (OzForex): Foreign Transfer AUD→KRW
AUD amount:$10,000 AUD
Fee:0^ - No fees for BestExchangeRates users (normally $15 for transfers over $10K)
Exchange Rate:793.37 (3.85% from mid-rate)
KRW amount:7,933,700 KRW
Total Cost:3.85%
Time:
Rate Fetched: Tue Jul 23 2019 22:01:17 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
Commonwealth Bank (CBA): Foreign Transfer AUD→KRW
AUD amount:$10,000 AUD
Fee:6
Exchange Rate:782.56 (5.16% from mid-rate)
KRW amount:7,820,905 KRW
Total Cost:5.22%
Difference:
112,795 KRW less than using OFX (OzForex)
Time:
Rate Fetched: website - Tue Jul 23 2019 22:02:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1.2/5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer AUD→KRW
AUD amount:$10,000 AUD
Fee:15
Exchange Rate:786.61 (4.67% from mid-rate)
KRW amount:7,696,106 KRW
Total Cost:6.73%
Difference:
237,594 KRW less than using OFX (OzForex)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
National Australia Bank (nab): Foreign Transfer AUD→KRW
AUD amount:$10,000 AUD
Fee:22
Exchange Rate:758.8 (8.04% from mid-rate)
KRW amount:7,571,306 KRW
Total Cost:8.24%
Difference:
362,394 KRW less than using OFX (OzForex)
Time:
Rate Fetched: website - 0:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
 
Snapshot 07/24/2019 - See full table

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 ProvidersAmount KRW(₩)Exchange RateFee AUDTotal CostDeal Links
ANZ Bank logo
781,107 KRW
Compare
788.9974A$105.34%
National Australia Bank (nab) logo
773,339 KRW
7,768 KRW
781.15106.28%
Banks - Average Rate
ANZ Bank logo Commonwealth Bank (CBA) logo National Australia Bank (nab) logo
770,810 KRW
10,297 KRW
778.6106.59%
Commonwealth Bank (CBA) logo
757,984 KRW
23,123 KRW
765.64A$108.14%
Travelex Online AU logo
746,827 KRW
34,280 KRW
746.8274$0 BPay, Card 0.72%-1%9.49%
Travel Money Oz logo
714,061 KRW
67,046 KRW
714.061$0 BPay, Credit Card 1%13.46%
ANZ Bank: Travel Money AUD→KRW
AUD amount:$1,000 AUD
Fee:A$10 AUD (1%)
Exchange Rate:788.9974 (4.38% from mid-rate)
KRW amount:781,107 KRW
Total Cost:5.34%
Time:
Rate Fetched: website - Tue Jul 23 2019 22:03:03 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 3/5.0
Reviews:
National Australia Bank (nab): Travel Money AUD→KRW
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:781.15 (5.33% from mid-rate)
KRW amount:773,339 KRW
Total Cost:6.28%
Time:
Rate Fetched: website - 0:01 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2.1/5.0
Reviews:
 

Banks - Average Rate

Travel Money AUD→KRW
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:784.34 (4.95% from mid-rate)
KRW amount:770,810 KRW
Total Cost:6.59%
Currency Services:Branch
Delivery/Collect:-
Commonwealth Bank (CBA): Travel Money AUD→KRW
AUD amount:$1,000 AUD
Fee:A$10 AUD (1%)
Exchange Rate:765.64 (7.21% from mid-rate)
KRW amount:757,984 KRW
Total Cost:8.14%
Time:
Rate Fetched: website - Tue Jul 23 2019 22:02:02 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1.2/5.0
Reviews:
Travelex Online AU: Travel Money AUD→KRW
AUD amount:$1,000 AUD
Fee:$0 BPAY, 0.77% MasterCard debit, 0.94% MasterCard credit, 0.72% Visa debit and 1% Visa credit
Exchange Rate:746.8274 (9.49% from mid-rate)
KRW amount:746,827 KRW
Total Cost:9.49%
Time:
Rate Fetched: Tue Jul 23 2019 22:00:05 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
Travel Money Oz: Travel Money AUD→KRW
AUD amount:$1,000 AUD
Fee:$0 BPay, Credit Card 1%
Exchange Rate:714.061 (13.46% from mid-rate)
KRW amount:714,061 KRW
Total Cost:13.46%
Time:
Rate Fetched: Tue Jul 23 2019 22:00:07 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup
Delivery/Collect:3-5 days
Rating:
 
: 4.2/5.0
Reviews:
 
Snapshot 07/24/2019 - See full table

AUD to KRW interbank exchange rate = 822.4884

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on AUD/KRW exchange rates

Foreign Transfers Travel Money

Foreign Transfers Travel Money

   

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)

In late June and early July, the Australian dollar recovered from multi-month lows against a number of important currencies; however, these recoveries were minor relative to losses over the past 18 months. Against the US dollar, at a rate of 70¢ (July-2), the Aussie was 14 percent lower than its best rate from 2018.

Investors have sold AUD in recent months as they’ve bet on aggressive interest-rate cuts by the Reserve Bank of Australia. These bets paid off: the RBA cut its cash rate in both June and July to a record low of 1 percent.

Lower borrowing costs are necessary, investors believe, in light of persistently soft domestic data and the fallout from a US-China trade standoff that shows no sign of nearing an end.

AUD will continue to track changes in interest-rate expectations. Economists expect at least one further cut this year and many expect two by early 2020. After July's cut, the RBA hinted it would leave rates unchanged for several months.

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. Westpac has predicted three cuts this year.

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.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

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.

 

View all AUD Exchange Rates