1 Korean (South) Won to Turkish Liras

Find the daily exchange rates for KRW/TRY and for all the top World currencies.

Countries That Use Korean (South) Won (KRW) as their official currency

The Korean (South) Won (KRW) is used as the main currency in the following countries: Korea, South

Countries That Use Turkish Lira (TRY) as their official currency

The Turkish Lira (Turkish Lira) is used as the main currency in the following countries: Northern Cyprus, Turkey

About The Korean (South) Won (TRY)

The TRY - Turkish Lira - is the official currency of Turkey and the Turkish Republic of Northern Cyprus. The Turkish Lira is symbolized by '₺' and abbreviated as 'TRY.' The Lira is subdivided into 100 smaller units called 'kuruş.' The Lira plays a vital role in supporting Turkey's diverse and growing economy, which spans agriculture, manufacturing, tourism, and a robust services sector. The Lira reflects the country’s rich cultural heritage and its status as a bridge between Europe and Asia.

The Turkish Lira has a long history, with its origins dating back to the Ottoman Empire. The Lira was first introduced in 1844, replacing the Ottoman currency system as part of modernization efforts within the empire. The modern Turkish Lira was officially established in 1923, following the formation of the Republic of Turkey. In 2005, Turkey revalued the Lira, removing six zeros from the old Lira in an effort to combat inflation and stabilize the currency. The new Turkish Lira (TRY) replaced the old Lira (TRL) at a rate of 1 TRY = 1,000,000 TRL, signaling a fresh start for the country’s economy.

The Central Bank of the Republic of Turkey (CBRT) is responsible for issuing and regulating the Turkish Lira. Established in 1930, the CBRT plays a key role in maintaining monetary stability, managing inflation, and ensuring financial stability in the country. The central bank sets interest rates, controls the money supply, and intervenes in the foreign exchange market when necessary to maintain the value of the Lira. Turkey’s monetary policy has faced challenges in recent years, particularly due to periods of high inflation and currency volatility, which the CBRT has tried to manage through various monetary measures.

The Turkish Lira is issued in both coin and banknote forms. Coins are available in denominations of 1, 5, 10, 25, and 50 kuruş, as well as 1 Lira. Banknotes are issued in denominations of 5, 10, 20, 50, 100, and 200 Lira. The banknotes feature images of Mustafa Kemal Atatürk, the founder of modern Turkey and its first president, reflecting his importance in Turkish history and his role in shaping the nation. The reverse sides of the banknotes feature images of historical landmarks, cultural figures, and symbols that highlight Turkey's rich heritage, such as Seljuk architecture and the iconic Anatolian landscapes.

Turkey’s economy is one of the largest in the region, characterized by its diverse industrial base, agriculture, and growing tourism sector. The Turkish Lira plays an essential role in supporting these industries, facilitating domestic trade and international exports. Turkey is a major producer of agricultural products, textiles, and automotive goods, and its location at the crossroads of Europe and Asia makes it a key player in regional trade. Tourism is also an important contributor to the economy, with millions of visitors drawn to Turkey’s historical sites, stunning coastlines, and unique cultural experiences. The value of the Lira is influenced by factors such as monetary policy, political developments, economic growth, and global market dynamics.

The Turkish Lira is used across the country for all types of transactions, from buying fresh produce at local markets to purchasing goods and services in major cities like Istanbul, Ankara, and Izmir. Tourists visiting Turkey will use the Lira for their travel expenses, including exploring famous attractions such as Hagia Sophia, the Blue Mosque, Cappadocia, and the beaches of Antalya. The Lira serves as both a practical currency for daily transactions and a symbol of Turkey’s national identity, cultural richness, and economic aspirations.

Despite facing challenges such as high inflation and currency volatility, the Turkish Lira remains a symbol of resilience for the country. The Turkish government and the Central Bank of the Republic of Turkey have implemented various measures to stabilize the currency and promote economic growth. As Turkey continues to modernize its economy, with an emphasis on infrastructure, technology, and export growth, the Turkish Lira will remain a key part of the nation’s identity and its ambitions for a stable and prosperous future. The Lira embodies the dynamic and enduring spirit of the Turkish people as they navigate both local and global economic challenges.

About The Korean (South) Won (KRW)

The KRW - South Korean Won - is the official currency of South Korea, a country known for its rapid economic growth, technological advancements, and vibrant cultural exports such as K-pop and Korean cinema. The South Korean Won is symbolized by '₩' and abbreviated as 'KRW.' It is subdivided into 100 smaller units called 'jeon,' though jeon are no longer used in daily transactions. The Won plays a vital role in South Korea’s economy, which is one of the largest in Asia and the world, known for its robust manufacturing, electronics, and automotive sectors.

The South Korean Won was first introduced in 1902, during the Korean Empire, but was replaced by the Japanese Yen following Japan's annexation of Korea in 1910. After gaining independence from Japan in 1945, Korea reintroduced the Won, but economic challenges led to its replacement with the Hwan in 1953. The current version of the Won was reintroduced in 1962, reflecting South Korea’s commitment to establishing a stable currency as it embarked on a path of rapid industrialization and economic development. The name 'Won' is derived from the Chinese word 'yuan,' meaning 'round object,' similar to the Japanese 'Yen' and the Chinese 'Yuan.'

The Bank of Korea (BoK), the central bank of South Korea, is responsible for issuing and regulating the South Korean Won. Established in 1950, the BoK plays a critical role in maintaining monetary stability, managing inflation, and promoting economic growth. The Bank of Korea formulates monetary policy, sets interest rates, and oversees the financial system to ensure the stability of the Won. The central bank occasionally intervenes in the foreign exchange market to manage the value of the KRW, particularly during times of economic uncertainty or volatility in the global financial markets.

The South Korean Won is issued in both coin and banknote forms. Coins are available in denominations of 10, 50, 100, and 500 Won, while banknotes are issued in denominations of 1,000, 5,000, 10,000, and 50,000 Won. The banknotes feature portraits of notable historical figures, such as King Sejong the Great, who is celebrated for his contributions to Korean culture, including the creation of the Korean alphabet (Hangul), and Yi I, a prominent Confucian scholar. The reverse sides of the banknotes depict cultural symbols, historical artifacts, and scenic landscapes, reflecting South Korea's rich heritage and national pride. The banknotes also incorporate advanced security features to prevent counterfeiting, including holograms, watermarks, and special printing techniques.

South Korea’s economy is one of the most dynamic and innovative in the world, with key industries including electronics, shipbuilding, automotive manufacturing, and information technology. The South Korean Won plays an essential role in supporting these industries by facilitating domestic and international trade, investment, and financial transactions. South Korea is home to some of the world’s largest and most successful multinational corporations, such as Samsung, Hyundai, and LG, and the stability of the Won is crucial to maintaining investor confidence and supporting export-driven growth.

The South Korean Won is used throughout the country for all types of transactions, from daily expenses in bustling city markets to large-scale investments in Seoul’s financial districts. Tourists visiting South Korea will use the Won for their travel expenses, including exploring iconic attractions such as Gyeongbokgung Palace, N Seoul Tower, and the bustling shopping districts of Myeongdong and Dongdaemun. The Won serves as both a practical currency for everyday life and a symbol of South Korea's economic resilience, cultural identity, and rapid transformation from a war-torn nation to a global economic powerhouse.

Despite facing challenges over the years, including the Asian financial crisis in the late 1990s, the South Korean Won has demonstrated resilience and adaptability. South Korea's economic reforms, prudent fiscal policies, and emphasis on technological innovation have helped the Won remain stable and trusted in the global financial market. As South Korea continues to grow and establish itself as a leading player in technology, culture, and global trade, the South Korean Won represents the country’s progress, determination, and ambitions for a prosperous future.

Korean (South) Won (KRW) Frequently Used Conversions