Full formBanking & Finance
KRWstands forKorean Won
Full Form of KRW
What is KRW?
The Korean Won (KRW) is the official currency of South Korea, issued and managed by the Bank of Korea. It is subdivided into 100 jeon, although jeon are rarely used in everyday transactions. In the Indian context, KRW gains relevance primarily in foreign exchange markets, international trade, and cross-border investments between India and South Korea. Indian businesses involved in exports of IT services, automobiles, or textiles often negotiate contracts denominated in KRW. Banks such as the State Bank of India and ICICI offer KRW accounts for importers and exporters, and the Reserve Bank of India occasionally includes KRW in currency swap agreements to facilitate bilateral trade. For students preparing for banking or RBI Grade B exams, knowing major currency codes like KRW is essential for understanding forex reserves and exchange rate mechanisms. The KRW symbol is ₩ and its ISO code appears frequently in global financial reporting. While not legal tender in India, its role in forex trading and remittances makes it a key currency in the Indian banking ecosystem.
KRW का फुल फॉर्म
कोरियाई वॉन
Example
The Reserve Bank of India recently entered into a bilateral currency swap arrangement with South Korea to promote trade settlement in KRW instead of US dollars.
KRW — frequently asked questions
What is the full form of KRW?
The full form of KRW is Korean Won, the official currency of South Korea.
How much is 1 KRW in Indian Rupees?
1 KRW is approximately 0.06 INR, but the exchange rate fluctuates daily based on forex market conditions.
Is KRW used in India?
KRW is not legal tender in India, but it is available in forex markets for trade, travel, and remittance purposes through authorized banks.