Understanding currency fluctuations is essential for travelers, investors, and businesses engaged in international trade. This comprehensive guide provides a detailed look at the Korean Won (KRW) to US Dollar (USD) exchange rate throughout 2024, offering insights into monthly trends, peak values, and overall performance. Whether you're planning a trip to South Korea or analyzing foreign exchange trends, this resource delivers accurate and actionable data.
Key Exchange Rate Highlights for 2024
The KRW/USD exchange rate experienced notable volatility during 2024, reflecting global economic shifts and monetary policy changes. Here are the key benchmarks:
- Highest Rate: 1 KRW = 0.0007725 USD on January 1, 2024
- Lowest Rate: 1 KRW = 0.0006764 USD on December 31, 2024
- Annual Average: 1 KRW = 0.0007340 USD
- Yearly Change: The Korean Won depreciated by -12.43% against the US Dollar in 2024
This decline indicates a weakening of the KRW relative to the USD, influenced by factors such as interest rate differentials, inflation trends, and geopolitical developments.
👉 Discover real-time exchange rate tools to track KRW and USD movements with precision.
Monthly Breakdown of KRW to USD Exchange Rates
January 2024: Strong Start for the Won
The year began on a high note for the Korean Won, with the strongest exchange rate of the year recorded on January 1. However, gradual depreciation followed as market sentiment shifted.
- Best rate: ₩1 = $0.0007725
- Worst rate: ₩1 = $0.0007446
- Monthly average: ₩1 = $0.0007549
Despite a solid start, investor caution in late January signaled upcoming volatility.
February 2024: Relative Stability
February saw relatively stable performance with minor fluctuations around the 0.000750 mark.
- Best rate: ₩1 = $0.0007535
- Worst rate: ₩1 = $0.0007467
- Monthly average: ₩1 = $0.0007507
The narrow spread suggests balanced market forces during this period.
March 2024: Gradual Decline Begins
March marked the beginning of a steady downward trend, with increasing pressure on the Won.
- Best rate: ₩1 = $0.0007631
- Worst rate: ₩1 = $0.0007416
- Monthly average: ₩1 = $0.0007513
By month-end, signs of weakening confidence emerged amid rising US Treasury yields.
April 2024: Accelerated Depreciation
April brought sharper declines, particularly in the second half of the month.
- Best rate: ₩1 = $0.0007443
- Worst rate: ₩1 = $0.0007197
- Monthly average: ₩1 = $0.0007309
The depreciation accelerated due to stronger-than-expected US economic data, boosting demand for the Dollar.
May 2024: Brief Recovery Attempt
May saw a temporary rebound in mid-month, but failed to sustain gains.
- Best rate: ₩1 = $0.0007422
- Worst rate: ₩1 = $0.0007230
- Monthly average: ₩1 = $0.0007333
The recovery was short-lived as hawkish Federal Reserve commentary strengthened the USD.
June 2024: Downward Pressure Intensifies
June continued the bearish trend for the KRW, hitting new lows.
- Best rate: ₩1 = $0.0007331
- Worst rate: ₩1 = $0.0007185
- Monthly average: ₩1 = $0.0007247
Market focus turned to South Korea’s trade balance and capital outflows.
July 2024: Sideways Movement
July showed consolidation after steep drops, with limited directional movement.
- Best rate: ₩1 = $0.0007307
- Worst rate: ₩1 = $0.0007195
- Monthly average: ₩1 = $0.0007237
Investors awaited central bank decisions from both nations.
August 2024: Volatile Rebound
August featured significant volatility, including a strong rally in the final week.
- Best rate: ₩1 = $0.0007548
- Worst rate: ₩1 = $0.0007273
- Monthly average: ₩1 = $0.0007409
Improved risk appetite briefly boosted Asian currencies.
September 2024: Peak Before the Fall
September recorded some of the year’s highest rates before a sharp reversal.
- Best rate: ₩1 = $0.0007632
- Worst rate: ₩1 = $0.0007448
- Monthly average: ₩1 = $0.0007521
However, global tightening expectations resurfaced by month-end.
October 2024: Renewed Weakness
October ushered in renewed downward pressure on the Won.
- Best rate: ₩1 = $0.0007560
- Worst rate: ₩1 = $0.0007201
- Monthly average: ₩1 = $0.0007350
Strong US labor market data reinforced Dollar strength.
November 2024: Sharp Decline
November saw one of the steepest drops of the year.
- Best rate: ₩1 = $极客时间
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Korean Won (KRW) To US Dollar (USD) Exchange Rate History for 28
Understanding currency fluctuations is essential for travelers, investors, and businesses engaged in international trade. This comprehensive guide provides a detailed look at the Korean Won (KRW) to US Dollar (USD) exchange rate throughout year, offering insights into monthly trends, peak values, and overall performance. Whether you're planning a trip to South Korea or analyzing foreign exchange trends, this resource delivers accurate and actionable data.
Key Exchange Rate Highlights for year
The KRW/USD exchange rate experienced notable volatility during year , reflecting global economic shifts and monetary policy changes. Here are the key benchmarks:
- Highest Rate: year
- Lowest Rate: year
- Annual Average: year
- Yearly Change: The Korean Won depreciated by year relative to the USD , influenced by factors such as interest rate differentials , inflation trends , and geopolitical developments.
👉 Discover real - time exchange rate tools to track KRW and USD movements with precision .
Monthly Breakdown of KRW to USD Exchange Rates
January year : Strong Start for the Won
The year began on a high note for the Korean Won , with the strongest exchange rate of the year recorded on January . However , gradual depreciation followed as market sentiment shifted.
Despite a solid start , investor caution in late January signaled upcoming volatility.
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Korean Won (KRW) To US Dollar (USD) Exchange Rate History for 28
Understanding currency fluctuations is essential for travelers , investors , and businesses engaged in international trade . This comprehensive guide provides a detailed look at the Korean Won (KRW) to US Dollar (USD) exchange rate throughout year, offering insights into monthly trends , peak values , and overall performance . Whether you 're planning a trip to South Korea or analyzing foreign exchange trends , this resource delivers accurate and actionable data .
Key Exchange Rate Highlights for year
The KRW / USD exchange rate experienced notable volatility during year , reflecting global economic shifts and monetary policy changes . Here are the key benchmarks :
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