CAD to KRW Exchange Rates

Canadian Dollar to South Korean Won. Get bank beating foreign currency exchange with OFX.

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KRW Snapshot

The Korean won is the currency of South Korea, and is typically subdivided into 100 jeon, however this only appears in foreign exchange rates and is not used for everyday transactions. As the South Korean economy moves towards electronic payments, the Bank of Korea has begun trialling for the cessation of coins altogether.

  • Currency Name: South Korean won
  • Currency Code: KRW
  • Currency Symbol:
  • Central Bank: Bank of Korea
  • Countries Used In: South Korea
  • Major Unit: 1 Korean won
  • Minor Unit: jeon - 1/100 of a won
  • Note Denominations: ₩1,000, ₩5,000, ₩10,000, ₩50,000
  • Coin Denominations: ₩10, ₩50, ₩100, ₩500

 

Previous CAD to KRW Exchange Rates

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Frequency

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  • Decimal places:
  • 2
  • 4
  • 6
Date (GMT) Rate**
Average 841.989201
31 Dec 1990 609.108026
31 Dec 1991 643.006658
31 Dec 1992 649.579388
31 Dec 1993 624.681097
31 Dec 1994 590.708684
31 Dec 1995 563.038379
31 Dec 1996 590.33349
31 Dec 1997 683.378984
31 Dec 1998 946.916348
31 Dec 1999 800.846541
31 Dec 2000 761.516282
31 Dec 2001 832.567378
31 Dec 2002 794.842055
31 Dec 2003 853.020777
31 Dec 2004 879.163876
31 Dec 2005 842.982279
31 Dec 2006 842.294207
31 Dec 2007 866.276441
31 Dec 2008 1026.123863
31 Dec 2009 1117.865447
31 Dec 2010 1122.250448
31 Dec 2011 1119.717626
31 Dec 2012 1126.430105
31 Dec 2013 1063.102461
31 Dec 2014 953.988562
31 Dec 2015 885.587749
31 Dec 2016 876.368236
31 Dec 2017 871.729357
31 Dec 2018 848.795999
22 Sep 2019 873.455285

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What influences the CAD/KRW exchange rate? 

The monetary policy of the Bank of Korea is focused on inflation targeting, so The Bank of Korea works on setting mid-term inflation targets. An inflation target may be set for a two-year period, but the Board may adjust their target if unexpected economic changes occur abroad or at home.1
 
The Canadian dollar (CAD) works under a floating exchange rate regime. Therefore, the CAD exchange rate may be determined by supply and demand. Other factors that might influence CAD’s value include commodity prices, interest rates, and inflation rates.2
 
Korea also follows a free-floating exchange rate system. Therefore, the CAD/KRW exchange rate may fluctuate based upon demand for primary exports. Also, KRW exchange rates against currencies other than the USD are “arrived at by arbitrating between the USD rates of foreign currencies in the international markets and the basic exchange rate of the KRW against the USD.3 As a result, the value of the USD may factor into the CAD/KRW exchange rate as well. 

CAD/KRW Snapshot

“As trading nations, Canada and South Korea support trade liberalization and share membership in many multilateral economic organizations including the G20, the Asia-Pacific Economic Cooperation (APEC) forum, the Organisation for Economic Co-operation and Development (OECD) and the World Trade Organization (WTO).” – Government of Canada4

  • South Korea is Canada’s 7th largest merchandise trading partner, as well as Canada’s 3rd biggest partner in Asia. Top exports from Canada to South Korea include mineral ores, meat, and mineral fuels and oils, while top imports from South Korea include iron, steel, machinery, electronic equipment, and vehicles.4  
  • In 2015, Canada was ranked 10th in GDP, while Korea ranked 11th.5
  • In 2015, Canada was the 11th largest exporter and 10th largest importer in the world.6 Korea was the 5th largest exporter and the 9th largest importer.7

Whether you’re planning on doing business in Korea or sending money back home to friends and family, OFX can help you save on your international money transfers. If you need to make a payment to Korea, use OFX so you don’t get stung by high bank margins and fees. Register today to get access to our low rates and personalised service.

 

Currency Name: Korean Won

Currency Code: KRW

Currency Symbol:

Central Bank: Bank of Korea

Countries Used In: Republic of Korea

Major Unit: One Won

Minor Unit: One Jeon = 1/100 of a Won

Note Denominations: ₩1,000, ₩5,000, ₩10,000, ₩50,000

 Coin Denominations: ₩10, ₩50, ₩100, ₩500

 

KRW to CAD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the KRW to CAD exchange rate today. 

 

Sources:

  1. http://www.bok.or.kr/broadcast.action?menuNaviId=1612
  2. https://lop.parl.ca/Content/LOP/ResearchPublications/tips/tip117-e.htm   
  3. http://www.bok.or.kr/broadcast.action?menuNaviId=690  
  4. http://www.canadainternational.gc.ca/korea-coree/bilateral_relations_bilaterales/index.aspx?lang=eng&_ga=2.243100932.764771610.1497977016-1910332906.1497977016
  5. http://databank.worldbank.org/data/download/GDP.pdf
  6. http://atlas.media.mit.edu/en/profile/country/can/
  7. http://atlas.media.mit.edu/en/profile/country/kor/