South Korean Won

South Korean Won

The won (; Korean: 원, Korean pronunciation: [wʌn]; symbol: ₩; code: KRW) or the Korean Republic Won is the currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and appears only in foreign exchange rates. The won is issued by the Bank of Korea, based in the capital city of Seoul.

Chinese Yuan Renminbi

Chinese Yuan Renminbi

The renminbi (Ab.: RMB; simplified Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì; literally: "people's currency"; sign: 元; code: CNY) is the official currency of the People's Republic of China. The yuan (Chinese: 元; pinyin: yuán) is the basic unit of the renminbi, but is also used to refer to the Chinese currency generally, especially in international contexts where "Chinese yuan" is widely used to refer to the renminbi. The distinction between the terms renminbi and yuan is similar to that between sterling and pound, which respectively refer to the British currency and its primary unit. One yuan is subdivided into 10 jiao (Chinese: 角; pinyin: jiǎo), and a jiao in turn is subdivided into 10 fen (Chinese: 分; pinyin: fēn). The renminbi is issued by the People's Bank of China, the monetary authority of China.Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy, and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasing power parity. More recently, however, appreciation actions by the Chinese government, as well as quantitative easing measures taken by the American Federal Reserve and other major central banks, have caused the renminbi to be within as little as 8% of its equilibrium value by the second half of 2012. Since 2006, the renminbi exchange rate has been allowed to float in a narrow margin around a fixed base rate determined with reference to a basket of world currencies. The Chinese government has announced that it will gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi, it became the world's 8th most traded currency in 2013, and 5th by 2015.On 1 October 2016, the RMB became the first emerging market currency to be included in the IMF's special drawing rights basket, the basket of currencies used by the IMF (reserve currency).

162 South Korean Won to Chinese Yuan Renminbi exchange rates chart

162 KRW to CNY exchange rates graph
162 KRW to CNY Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

162 KRW to CNY exchange rates table

Exchange KRW to CNY
162 South Korean Won = 0.991 Chinese Yuan Renminbi
324 South Korean Won = 1.983 Chinese Yuan Renminbi
810 South Korean Won = 4.957 Chinese Yuan Renminbi
1620 South Korean Won = 9.914 Chinese Yuan Renminbi
Exchange South Korean Won to Chinese Yuan Renminbi
162 South Korean Won to Chinese Yuan Renminbi Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

Best KRW/CNY rate at Bank of China in Shanghai

162 KRW to CNY exchange rates at Bank of China in Shanghai
162 South Korean Won = 0.952 Chinese Yuan Renminbi
Bank of China
Bank of China

Bank of China was formally established in February 1912 following the approval of Dr. Sun Yat-sen. From 1912 to 1949, the Bank served consecutively as the country’s central bank, international exchange bank and specialised international trade bank. Fulfilling its commitment to serving the public and developing China’s financial services sector, the Bank rose to a leading position in the Chinese financial industry and developed a good standing in the international financial community, despite...

Best KRW/CNY rate at Woori Bank in Seoul

162 KRW to CNY exchange rates at Woori Bank in Seoul
162 South Korean Won = 0.944 Chinese Yuan Renminbi
Woori Bank
Woori Bank

Woori Bank (Hangul: 우리은행 Uri Eunhaeng) is a bank headquartered in Seoul, South Korea and Woori Bank is a subsidiary of the parent company Woori Financial Group. The bank was founded back in 1899, originally called Daehan Cheon-il Bank, renamed Joseon Sangup Bank in 1911, then Commercial Bank of Korea in 1950s. Following the 1997 Asian financial crisis, it merged with the former Hanil Bank and Peace Bank to become Hanvit Bank. Woori Bank adopted its current name in 2002. Its Jongno branch is...

162 KRW to CNY exchange rates news

16 Surreal Places In Arkansas You Won't Believe Really Exist

Spoiler alert: article contains information on where to mine diamonds

conditional positive
Amnesty for a P1.5-billion tax case
Amnesty for a P1.5-billion tax case

Manila Standard | Defining The News

conditional neutral
Who will be TIME's 2018 Person of the Year? Check out the shortlist

TODAY reveals the 10 people shortlisted for the 2018 TIME Person of the Year, including the Duchess of Sussex, the former Meghan Markle, Dr. Christine Blasey Ford, President Donald Trump, families separated at the U.S.-Mexico border, Russian President Vladimir Putin, Special Counsel Robert Mueller, "Black Panther" director Ryan Coogler, slain journalist Jamal Khashoggi, the "March for our Lives" activists and South Korean President Moon Jae-In.

conditional neutral
U.S. presses S. Korea to pay more for U.S. defenses

Washington is demanding that Seoul pay 1.5 times more money for U.S. troops stationed in South Kore…

conditional positive
Tesla says cuts price for Model X, S in China

BEIJING/SHANGHAI (Reuters) - Tesla Inc is...

conditional neutral

162 KRW to CNY currency converter