Currency Converter
Provides fast and accurate currency conversion between major currencies. Exchange rates are updated once daily. Convert Korean Won, US Dollar, Euro, Japanese Yen, Chinese Yuan and more to help with international transactions and travel planning.
Live Exchange Rates
Complete Guide to Currency Exchange
01
What is an Exchange Rate?
An exchange rate is the ratio for converting one currency to another. It fluctuates in real-time based on supply and demand, economic conditions, interest rates, and political stability in the foreign exchange market. Major reserve currencies include US Dollar (USD), Euro (EUR), and Japanese Yen (JPY), along with Korean Won (KRW), Chinese Yuan (CNY), and others.
02
Factors Affecting Exchange Rates
Interest Rate Differentials: Higher rates attract foreign capital
Economic Growth: Strong growth increases currency value
Trade Balance: Export surplus strengthens currency
Political Stability: Stable countries attract investment
Commodity Prices: Oil prices affect energy importers/exporters
Central Bank Policy: Monetary policy and market intervention
Economic Growth: Strong growth increases currency value
Trade Balance: Export surplus strengthens currency
Political Stability: Stable countries attract investment
Commodity Prices: Oil prices affect energy importers/exporters
Central Bank Policy: Monetary policy and market intervention
03
Travel Currency Exchange Tips
Before traveling, compare rates from multiple exchange services and check credit card foreign transaction fees. Avoid airport exchanges due to unfavorable rates. When using local ATMs, verify card fees. Some banks waive or reimburse international ATM fees. Consider ordering currency online for better rates.
04
Corporate FX Risk Management
Companies use various hedging strategies to protect against exchange rate fluctuations:
Forward Contracts: Lock in future exchange rates today
Currency Options: Right to refuse unfavorable rates
Natural Hedging: Match revenues and expenses in same currency
Currency Swaps: Exchange loans in different currencies
Forward Contracts: Lock in future exchange rates today
Currency Options: Right to refuse unfavorable rates
Natural Hedging: Match revenues and expenses in same currency
Currency Swaps: Exchange loans in different currencies
05
Major Currency Characteristics
US Dollar (USD): World's reserve currency, 88% of FX transactions
Euro (EUR): Common currency of 19 EU nations, second reserve currency
Japanese Yen (JPY): Safe haven asset, appreciates during crises
British Pound (GBP): Oldest currency, London financial center
Chinese Yuan (CNY): Growing influence with trade expansion
Euro (EUR): Common currency of 19 EU nations, second reserve currency
Japanese Yen (JPY): Safe haven asset, appreciates during crises
British Pound (GBP): Oldest currency, London financial center
Chinese Yuan (CNY): Growing influence with trade expansion
06
Digital Age Currency Exchange
Online exchange services offer better rates and lower fees than traditional banks:
• Internet/Mobile Banking: 24/7 access, preferential rates
• Digital Wallets (PayPal, Wise): Convenient for international transfers
• Cryptocurrency: Low transfer fees but high volatility
• Rate Comparison Sites: Real-time optimal rate monitoring
• Rate Alerts: Notifications when target rate is reached
• Internet/Mobile Banking: 24/7 access, preferential rates
• Digital Wallets (PayPal, Wise): Convenient for international transfers
• Cryptocurrency: Low transfer fees but high volatility
• Rate Comparison Sites: Real-time optimal rate monitoring
• Rate Alerts: Notifications when target rate is reached