Currency Converter – Live Exchange Rates
Convert currencies with live exchange rates. Supports all major world currencies with rates updated regularly.
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How Exchange Rates Work
Exchange rates represent the value of one currency relative to another and fluctuate constantly based on supply and demand, interest rate differentials between countries, inflation, political stability, and economic indicators. The rates shown here are mid-market rates — the midpoint between buy and sell rates.
Mid-Market vs Bank Rates
Banks and money transfer services add a markup (spread) on top of the mid-market rate. This is how they profit. The spread can be 1–5% for retail transactions. Services like Wise (formerly TransferWise) offer near mid-market rates with transparent fees, significantly cheaper than traditional banks.
KRW to USD Historical Context
The Korean won (₩) is a non-deliverable currency, meaning it cannot be traded freely offshore. As of 2024, the USD/KRW rate typically ranges between 1,300–1,400 won per dollar, fluctuating with US Federal Reserve policy and Korean export data.