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South Korea Currency
Official Currency of South Korea
Knowing about South Korea currency is important before you visit South Korea because once you reach there, you have to make all transaction in South Korea currency. South Korea currency is termed as ‘’Won’’. One won is further divided into 100 jeon which is not used now in daily life, but jeon does appear in forex exchange. Bank of Korea located in the capital city Seoul issues Won.
History of South Korea Currency
Now let us discuss the history of South Korea currency. During 1910 to 1945 the Korean Won was replaced by Korean Yen. After the end of World War 2 in 1945, the currencies replaced to Won. North Korea won for North Korea and South Korea Won for South Korea. The South Korea currency in that era was called as first South Korean Won. In 1953 the Won was again replaced by ‘’hwan” at the rate of 1 hwan equalling to 100 Won. The South Korea currency was again replaced from hwan to Won in 1962 at the rate of 10 hwan equalling to 1 Won. It reintroduced Won is termed as second South Korean Won. The bank notes available for transactions are for 5, 10, 50, 100, 500, 1000, 2000, 5000, and 10000 Won. All these banknotes are issued by the central bank of Korea in Seoul.
South Korea Currency to PKR & USD
The current rate of South Korea currency is 1 USD equals to 1130.70 South Korean Won. If you want to know the rate of South Korea currency to PKR, then 1 Won is equaled to 0.11 PKR.
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