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        OFX USD to KRW Exchange Rates

        The best USD to KRW exchange rate is 1314.8. We compare OFX conversion costs to this mid-market rate and other FX providers, find better deals.

        In this OFX Dollar to South Korean won (USD/KRW) rate guide:

        OFX Compare exchange rates   USD to KRW

        Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to South Korean won (KRW) rates from different sources before making a conversion.

        The below OFX Rate Comparison Table makes it easy to compare the Total Cost you are being charged on OFX Dollar to South Korean won currency rates and the possible savings of using various providers.

         

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        OFX at a glance

        OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.

        OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.

        OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.

        When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.

        *Minimum transfer amount apply. Please note that the receiving bank or intermediary bank may charge fees on transactions.

         
         

        Multi-Vendor Quote

        We can help you get an even better deal when sending a Large International Money Transfer.

        Click below for the Request Quotes form and enter your transfer details (BER account required).

        Request Quotes

        Save time and money - fewer websites to visit and you get a much better exchange rate & service.

         
         

        USD to KRW Market Data

        US dollar (USD) to South Korean won (KRW) market data - latest interbank mid-rate, trend, chart & historic rates.

         
        1 USD =
        1314.8We compare provider deals to this wholesale mid-market rate. Read more
        KRW
        USD to KRW is at 14-day highs near 1312, 1.1% below its 3-month average of 1327, having traded in a quite stable 5.7% range from 1288 to 1362
        |
        Sell USD   →   Buy KRW
        My Rates

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        14-DAY HIGH▲
        1-DAY +1.4%▲
        DateUSD/KRWChangePeriod
        20 Nov 2023
        1288.58
        		1.7% ▲2 Week
        05 Sep 2023
        1332.07
        		1.6% ▼3 Month
        04 Dec 2022
        1300.17
        		0.8% ▲1 Year
        05 Dec 2018
        1112.67
        		17.8% ▲5 Year
        06 Dec 2013
        1058.15
        		23.9% ▲10 Year
        09 Dec 2003
        1187.10
        		10.4% ▲20 Year
        USD/KRW historic rates & change to 04-Dec-2023

        Forecasts for USD to KRW

        14-DAY HIGH▲
        1-DAY +1.4%▲

        According to FX analysts and economists, the US dollar is expected to weaken against the South Korean won (KRW) in the coming years. The recent strength of the US dollar is anticipated to eventually reverse, as the Federal Reserve's interest rate hikes approach the end of their cycle in 2023. This expected reversal in the US dollar's strength suggests that the USD to KRW exchange rate may decrease in the future.

        Read our full USD to KRW forecasts analysis

         
        KRW and flag

        How to get a good USD to KRW exchange rate

        There are several ways to save on exchange rates when converting US dollar to South Korean won:

        1. Shop around for the best USD/KRW exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
        2. Timing is important: Keep an eye on the USD/KRW rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
        3. Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
        4. Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both USD and KRW at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
        5. Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.

        The key is reducing excessive costs and fees

        Generally speaking, if you are buying South Korean won with US dollar, then it's better for the USD/KRW exchange rate to be higher.

        However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).

        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.

        It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.

        Will the US dollar rise against the South Korean won?

        It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

        To help with this you can add USD/KRW to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

         
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        Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.

        Read our Currency guide to South Korea - a practical currency and money guide to travel, living and doing business in South Korea with the South Korean won.

         
         
         

        Country Currency Guides

        United StatesUnited States (USD)South KoreaSouth Korea (KRW)
         

        How is the cost of living in South Korea?

        The cost of living in South Korea is relatively high when compared to other countries in Asia. In terms of transportation, food, and accommodation, South Korea is more expensive than China, Japan, and Thailand. However, it is important to note that the cost of living in South Korea varies depending on the city. Seoul, the capital city, is known for its high cost of living, while smaller cities and rural areas are generally more affordable.

        What are the limits to foreigners when buying Property in South Korea?

        There are no limits when acquiring property but you are required to register your purchase to local authorities within 60 days.

        Read more at our South Korea (KRW) country guide

           
         
         
         

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        Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more

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