This is the current AUD-KRW mid-market exchange rate. The Total Cost of buying foreign currency in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market AUD-KRW exchange rate.
Whenever you are researching a particular exchange rate you are actually interested in two currencies as the value of a currency must always be quoted relative to a second currency.
So it follows that if you are determining the best time to transact, in this case the AUD vs KRW, you should pay attention to both Australian Dollar and South Korean Won news and forecasts.
Following a flash crash in early January, which saw the Australian dollar briefly trade at a 10-year low of $0.674, the Aussie recovered to $0.73, but then, as it had done before the flash crash, it commenced with a slow and steady decline, and it was back at $0.705 in mid-March and was predicted to fall further.
In February, HSBC predicted a year-end AUD/USD rate of $0.66. In March, Westpac and JP Morgan were slightly more upbeat and argued for $0.68.
Fuelling lower exchange rate forecasts is the Australian economic story, for which major themes include a housing market slump, Chinese growth and the US-China trade spat. The RBA slashed growth forecasts in February and markets are now pricing in 1-2 interest rate cuts this year.
Another Aussie exchange rate worth mentioning is AUD/GBP, which sank in mid-March to its lowest level in nearly 3 years, at just £0.53. The Australian dollar has been unable to compete with the pound of late, since the latter benefits every time the British government fails to make a decision on how to deliver Brexit (every time Brexit appears less likely or to be delayed).
28-January-19: 2018 was a mixed year for the South Korean won: it lost 4.4 percent of its value against the US dollar, gained roughly 6 percent against the Australian dollar and barely changed at all relative to the euro.
The won is a peculiar currency, preferring to trade in ranges. Since last summer the won has been contained, for the most part, between 1110 and 1140 to the dollar. The current range developed after June’s violent break from a previous range that existed between 1060 and 1085 in the first half of 2018. That range, too, preceded a sharp break from yet another range that developed in 2017.
Any intensification in US-China trade tensions could weigh heavily on the won in 2019. Trade tensions act to reduce the risk appetite of investors and to lower expectations for Chinese economic growth, which greatly affects the broader Asia-Pac region. A slower pace of US interest rate hikes (as was projected by the Fed itself in December) would be won supporting.
Sorry, our travel money calculators are currently only available for comparing exchange rates rates for buying foreign cash and travel money in Australia, Canada, France, Germany, Netherlands, New Zealand, United Kingdom and the USA.
