USD/KRW is a Forex ticker that represents the price it will cost you in South Korean Won to buy 1 USD. FX currencies are shortened to three-letter abbreviations for ease and are called ISO codes. The Forex market trades in these currency pairs and have a quote structure of Base/Quote (USD/KRW).
The live USD/KRW rate is shown below in an interactive chart that you can use for technical analysis. Our real-time news and analysis will keep you up to date with factors affecting the price movements of USD/KRW, both fundamental and technical.
Recommended Forex Brokers to Trade USD/KRW
The Korean won (KRW) is the national currency of South Korea and the USD/KRW pair reflects the exchange between it and the US Dollar. The Korean won is fully convertible and is routinely traded against other global currencies, such as the U.S. dollar (USD), the Japanese yen (JPY), and the euro (EUR).
USD/KRW Significant Price Movements
The Korean won has been used for thousands of years but in modern times it has undergone several changes. After World War II, the division of North Korea and South Korea resulted in two separate currencies, each called the Korean won. The first South Korean won was pegged to the USD at a rate of 15 won to 1 dollar, but a number of devaluations occurred thereafter, due largely to the effects of the Korean war.
In 1950, the Bank of Korea began operations as South Korea’s new central bank. In the late 1990s, the government responded to the Asian Financial Crisis by allowing the won to float freely on foreign exchange markets.
Today, South Korea’s economy is one of the largest in Asia, a large service sector and a major force in international commerce. As a result, the value of the won has been quite stable over the past decade. In 2010, 1 USD was equal to 1,157 KRW. As of Oct. 2019, the equivalent figure is almost the same: 1,164 KRW per USD.
Which is the best broker to trade the USD/KRW pair?
There are not many online brokers that support day trading of the USD/ KRW pair. We are constantly evaluating new and existing brokers to recommend the most reliable ones. For more information, you can go to our page that reviews and compares the best Forex brokers to learn more about the different platforms where you can trade USD/ KRW.
When I trade the USD/ KRW pair will I own the actual currency?
No. CFDs allow you to speculate on rises and falls in the currency pair without having physical ownership. With CFDs, you only have to put in a fraction of the market value of the underlying asset when making a trade. Unlike investing, when you trade CFDs, you are not buying or trading the underlying asset. What you are buying/selling is a contract between yourself and the CFD provider.
How to trade the USD/ KRW pair?
As the USD/ KRW is not a frequently traded pair, the lower volume of trade means there is a lot more predictability in the price action, and trade patterns are a lot easier to spot.
However, trading an exotic pair is better suited to those with more experience of the financial markets.
The three analysis techniques are fundamental, sentiment and technical. We’d recommend having a good grasp on the fundamentals because this pair isn’t as actively traded as others and so isn’t as liquid.