South Korean won Buy: 31.0 / Sell: 37.0 / National Bank rate: 32.19

The name "won" in Russian comes from the phrase 원화 (pronounced wonhwa), literally meaning "won currency." Banknotes in denominations of 1,000, 5,000, 10,000, and 50,000 won and coins in denominations of 1, 5, 10, 50, 100, and 500 won are in circulation. Since 1 and 5 won coins are rare, rounding to the nearest 10 won is permitted.

The won was introduced on June 9, 1962. The new currency was exchanged at a rate of 1 won = 10 hwan. On March 22, 1975, after the last hwan coins were withdrawn from circulation, the won became the sole legal tender. It was assigned the ISO 4217 code KRW. When the won was introduced in 1962, its exchange rate was artificially pegged to the US dollar at a rate of 125 won = 1 dollar.