Define: KRW

UK Accounting Glossary

Definition: KRW



Advertisement



Full Definition of KRW


KRW is the three-character currency abbreviation for the South Korean Won based on the ISO-4217 standard codes. KRW is the official currency of the Republic of Korea. The common usage symbol for the KRW is W or W. The Bank of Korea is the government institution that issues the KRW. The KRW does not divide into smaller units, therefore the smallest unit of the KRW is 1 won. The KRW is considered a major currency in Asia and is actively traded in the international currency markets. The value of the KRW “floats” against other currencies. That is, market forces determine the value of the KRW. Therefore, the KRW is easily convertible into other currencies. The approximate conversion value (in late 2005) for the KRW in US dollars is KRW 1,000+ to USD 1.


Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/krw/
Modern Language Association (MLA):
KRW. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 02, 2020 https://payrollheaven.com/define/krw/.
Chicago Manual of Style (CMS):
KRW. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/krw/ (accessed: April 02, 2020).
American Psychological Association (APA):
KRW. PayrollHeaven.com. Retrieved April 02, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/krw/

Definition Sources


Definitions for KRW are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 10th February 2020.