This comprehensive guide details the 2024 exchange rate history between the Korean Won (KRW) and the US Dollar (USD). We provide a clear summary of the year's highest, lowest, and average rates, followed by a complete monthly breakdown of the daily exchange rates. Understanding these trends is crucial for anyone involved in international finance, travel, or business between South Korea and the United States.
2024 KRW to USD Exchange Rate Summary
The overall trend for the Korean Won against the US Dollar in 2024 was one of depreciation.
| Metric | Value |
|---|---|
| Highest Rate | 0.0007725 USD on January 1, 2024 |
| Average Rate | 0.0007340 USD over the period |
| Lowest Rate | 0.0006764 USD on December 31, 2024 |
The KRW/USD rate decreased by approximately -12.43% over the course of the year, meaning the Korean Won lost value compared to the US Dollar.
Monthly KRW to USD Historical Data
The exchange rate fluctuated throughout the year, influenced by global economic conditions, interest rate differentials, and market sentiment.
January 2024
The year began with the highest annual rate. The month saw a gradual decline from the peak, ending with a lowest rate of ₩1 = $0.0007446 on January 17. The average rate for January was ₩1 = $0.0007549.
February 2024
Rates in February were relatively stable but lower than those in January. The best rate was ₩1 = $0.0007535 on February 6, while the worst was ₩1 = $0.0007467 on February 13. The monthly average was ₩1 = $0.0007507.
March 2024
March experienced some volatility, reaching a monthly high of ₩1 = $0.0007631 on March 11. The rate fell significantly towards the month's end, hitting a low of ₩1 = $0.0007416 on March 28. The average for March was ₩1 = $0.0007513.
April 2024
A clear downward trend emerged in April. The rate fell from its monthly high of ₩1 = $0.0007443 on April 3 to a low of ₩1 = $0.0007197 on April 16. The average exchange rate for the month was ₩1 = $0.0007309.
May 2024
May saw some recovery from April's lows, with a peak of ₩1 = $0.0007422 on May 16. However, the month closed near its lowest point at ₩1 = $0.0007230 on May 31. The average rate was ₩1 = $0.0007333.
June 2024
The downward pressure continued in June. The best rate was ₩1 = $0.0007331 on June 6, but the currency fell to its monthly low of ₩1 = $0.0007185 on June 26. June's average was ₩1 = $0.0007247.
July 2024
July was a month of relative stability within a narrow range. The highest rate was ₩1 = $0.0007307 on the last day of the month, while the lowest was ₩1 = $0.0007195 on July 19. The average settled at ₩1 = $0.0007237.
August 2024
August marked a significant rebound for the Won. After starting at ₩1 = $0.0007305, it climbed to the monthly and Q3 high of ₩1 = $0.0007548 on August 23. The average rate for August was a stronger ₩1 = $0.0007409.
September 2024
The positive momentum continued into September, which ended up being the strongest month since January. The rate hit a peak of ₩1 = $0.0007632 on September 27, closely matching the year's opening high. The monthly average was ₩1 = $0.0007521.
October 2024
Gains were reversed in October as the Won weakened throughout the month. It opened at ₩1 = $0.0007556 and trended downward to a low of ₩1 = $0.0007201 on October 25. The average rate for October was ₩1 = $0.0007350.
November 2024
The decline accelerated in November. The rate fell from ₩1 = $0.0007277 on November 4 to a monthly low of ₩1 = $0.0007106 on November 12. The average rate of ₩1 = $0.0007169 was notably lower than previous months.
December 2024
The year ended with the Won at its weakest point. A steady decline culminated in the annual low of ₩1 = $0.0006764 on December 31. The average exchange rate for December was just ₩1 = $0.0006942.
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Frequently Asked Questions
What was the average Korean Won to US Dollar exchange rate in 2024?
The average exchange rate throughout 2024 was 1 Korean Won (KRW) to 0.0007340 US Dollars (USD). This figure represents the mean value across all trading days of the year.
When was the strongest the Korean Won was against the US Dollar in 2024?
The Korean Won was at its strongest at the very beginning of the year. The highest exchange rate recorded was 1 KRW = 0.0007725 USD on January 1, 2024.
What was the lowest KRW to USD rate in 2024?
The lowest point for the Won occurred at the end of the year. The weakest exchange rate was 1 KRW = 0.0006764 USD on December 31, 2024.
Why did the Korean Won weaken against the US Dollar in 2024?
The Won's depreciation was primarily driven by a strong US Dollar, which benefited from aggressive Federal Reserve interest rate policies. Global risk-off sentiment and concerns about regional economic growth also contributed to the pressure on the KRW.
Where can I find the most current exchange rate?
For the most up-to-date and accurate KRW to USD conversion, it is essential to use a reliable financial data provider or a trusted currency converter platform that offers live market rates.
How can I track exchange rate trends for informed decisions?
Monitoring economic indicators from both South Korea and the US, such as interest rate decisions, inflation data, and GDP growth, is key. Utilizing historical charts and analysis can also provide valuable context for future movements. 👉 Explore more currency strategies