Converting from South Korean Won (KRW) to Israeli Shekel (ILS)

What is South Korean Won (KRW)

The South Korean Won (KRW) is the official currency of South Korea. It is often symbolized as ₩ and is divided into 100 jeons, although the jeon is not widely used in everyday transactions. The Bank of Korea, the country's central bank, is responsible for issuing and managing the currency.

The history of the won dates back to the late 19th century, but the modern version of the currency was introduced in 1953 after the Korean War. The won has seen fluctuations and adjustments throughout its history, particularly during times of economic change. Today, the KRW is a stable currency that plays an essential role in both domestic and international trade.

In terms of coins, the South Korean won is available in denominations of 1, 5, 10, 50, 100, and 500 won, while banknotes exist in 1,000, 5,000, 10,000, and 50,000 won. When it comes to exchanges, the KRW can be traded on the global currency market, where its value may change against other currencies, including the Israeli Shekel (ILS).

What is Israeli Shekel (ILS)

The Israeli Shekel (ILS) is the currency of Israel and is usually represented by the symbol ₪. It is subdivided into 100 agorot. The Bank of Israel, which is the nation's central bank, is responsible for issuing and regulating the currency.

The shekel has its historical roots, with various forms of the currency existing since ancient times. The modern version of the shekel was introduced in 1985, replacing the old shekel at a rate of 1 new shekel to 1,000 old shekels. The Israeli Shekel is known for its stability, and it has gained recognition as a strong currency in the Middle East.

In terms of denominations, the ILS is available in coins of 10 agorot, 1, 2, 5, and 10 shekels, while notes are available in the denominations of 20, 50, 100, and 200 shekels. Its value in terms of other currencies, such as the KRW, can fluctuate depending on economic conditions, political stability, and market demand.

Converting KRW to ILS

For those looking to convert KRW to ILS, it's essential to keep track of the current exchange rates. Exchange rates can vary daily based on market conditions. To convert an amount from KRW to ILS, you can utilize the exchange rate formula:

Amount in ILS = Amount in KRW × Exchange Rate (KRW to ILS)

For example, if the exchange rate is 0.0030, converting 100,000 KRW to ILS would be:

100,000 KRW × 0.0030 = 300 ILS

Several online currency converters can assist with real-time exchange rates, making it easier for individuals and businesses to understand the value of the South Korean Won in terms of Israeli Shekels.