The exchange rate between the Korean Won (KRW) and the US Dollar (USD) is a key metric for international finance, trade, and travel. This analysis provides a comprehensive overview of the KRW to USD performance throughout 2021, detailing monthly trends, key highs and lows, and the overall annual trajectory. Understanding these fluctuations is crucial for anyone involved in financial planning between these two currencies.
2021 KRW to USD Exchange Rate Overview
The year 2021 was a period of notable decline for the Korean Won against the US Dollar. The currency opened the year at its peak and experienced its lowest point in November.
| Metric | Value |
|---|---|
| Highest Rate | 0.0009210 USD on January 1, 2021 |
| Average Rate | 0.0008739 USD over the period |
| Lowest Rate | 0.0008327 USD on November 8, 2021 |
Overall, the KRW/USD rate decreased by -8.68% in 2021, meaning the Korean Won lost value compared to the US Dollar over the course of the year.
Monthly Exchange Rate Trends
January 2021
The year began with the Won at its strongest point. The rate gradually declined throughout the month from its January 1st high.
- Average Rate: ₩1 = $0.0009100
- Key Trend: Steady depreciation from the month's opening high.
February 2021
The downward trend continued into February, with the currency experiencing increased volatility.
- Average Rate: ₩1 = $0.0008997
- Key Trend: Continued weakening, hitting a monthly low at the end of the month.
March 2021
March saw the Won reach some of its lowest levels in the first quarter, reflecting broader market uncertainties.
- Average Rate: ₩1 = $0.0008849
- Key Trend: Significant drop mid-month, with a gradual recovery by month's end.
April 2021
The currency found some stability in April, trading within a relatively tighter range compared to previous months.
- Average Rate: ₩1 = $0.0008944
- Key Trend: Sideways movement with a slight strengthening trend towards the end of April.
May 2021
May was a month of recovery, with the Won regaining some of its lost value against the Dollar.
- Average Rate: ₩1 = $0.0008906
- Key Trend: A positive rebound, closing the month significantly stronger than it opened.
June 2021
The positive momentum was short-lived as June brought another period of decline for the Korean Won.
- Average Rate: ₩1 = $0.0008905
- Key Trend: A gradual slide in value throughout the month.
July 2021
The depreciation accelerated in July, with the Won hitting new lows for the year.
- Average Rate: ₩1 = $0.0008734
- Key Trend: A clear and sustained downward trajectory.
August 2021
August continued the bearish trend for the KRW, as it fell to new annual lows.
- Average Rate: ₩1 = $0.0008616
- Key Trend: Consistent decline, breaking through previous support levels.
September 2021
The fall of the Won persisted in September, marking one of its weakest periods.
- Average Rate: ₩1 = $0.0008524
- Key Trend: The currency reached new lows, reflecting strong demand for the USD.
October 2021
October's trading was characterized by continued pressure on the Won, which remained near its lowest levels.
- Average Rate: ₩1 = $0.0008461
- Key Trend: Consolidation near the bottom of its yearly range.
November 2021
The Korean Won hit its absolute lowest point for the year on November 8th.
- Average Rate: ₩1 = $0.0008432
- Key Trend: The month contained the annual low, followed by a slight recovery.
December 2021
The year ended with the Won stabilizing but failing to mount a significant recovery, closing the year much weaker than it started.
- Average Rate: ₩1 = $0.0008444
- Key Trend: Sideways movement, consolidating after the sharp declines of the previous months.
Key Factors Influencing the 2021 Exchange Rate
The decline of the KRW against the USD in 2021 can be attributed to several global and domestic factors:
- US Federal Reserve Policy: Shifting expectations towards monetary tightening in the US strengthened the Dollar globally.
- Global Risk Sentiment: Periods of risk aversion in global markets often lead investors to seek the safety of the US Dollar.
- Commodity Prices: Fluctuations in global oil prices, which Korea imports, can impact the Won's value.
- Economic Recovery Pace: The relative pace of post-pandemic recovery in the US compared to other regions bolstered the Dollar.
For those tracking these dynamics in real-time, accessing a reliable financial data platform is essential. 👉 View real-time currency tools
Frequently Asked Questions
What was the average Korean Won to US Dollar exchange rate in 2021?
The average exchange rate throughout 2021 was 1 Korean Won = 0.0008739 US Dollar. This figure represents the mean value across all trading days for the year.
When did the KRW reach its strongest point against the USD in 2021?
The Korean Won was at its strongest on the very first day of the year, January 1, 2021, with an exchange rate of 1 KRW = 0.0009210 USD. This was the highest value it held all year.
What was the lowest exchange rate for KRW to USD in 2021?
The annual low occurred on November 8, 2021, when the rate fell to 1 KRW = 0.0008327 USD. This marked the weakest point for the Won against the Dollar throughout the entire year.
What was the overall trend for the Won in 2021?
The overall trend for the Korean Won in 2021 was negative. It depreciated by 8.68% against the US Dollar, meaning it consistently lost value from its January high to its November low before stabilizing.
How can I convert KRW to USD accurately?
To get the most accurate conversion, always use a reliable, up-to-date currency converter that sources its data from live market feeds. The exchange rate can change by the minute due to market fluctuations. 👉 Get current conversion methods
Why does the KRW/USD exchange rate fluctuate?
The exchange rate fluctuates due to a complex mix of factors including interest rate differentials between South Korea and the US, economic data releases, geopolitical events, global market risk sentiment, and the trade balance between the two countries.