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The exchange rate between the Euro (EUR) and the South Korean Won (KRW) has exhibited notable fluctuations over the past few months, reflecting a dynamic interplay of economic factors and market sentiments. As of June 27, 2025, the EUR/KRW exchange rate stood at 1,592.70, marking a significant appreciation from earlier in the year. (ycharts.com)

Recent Exchange Rate Trends

In the first half of 2025, the EUR/KRW exchange rate experienced considerable volatility. The year began with the Euro trading at approximately 1,487.6 KRW on January 28, 2025. By April 11, 2025, the rate had surged to a peak of 1,646.1 KRW, representing a substantial increase. This upward trend was followed by a decline, reaching a low of 1,544.7 KRW on June 10, 2025. Subsequently, the Euro regained strength, climbing back to 1,592.70 KRW by late June. (poundsterlinglive.com)

Technical Analysis

Technical indicators as of June 27, 2025, suggest a bullish outlook for the EUR/KRW pair. The Relative Strength Index (RSI) stood at 71.795, indicating that the currency pair was approaching overbought territory. The Moving Average Convergence Divergence (MACD) value of 2.62 further supported the bullish momentum. Additionally, all moving averages, including the 5-day (1,596.88), 10-day (1,596.00), and 20-day (1,592.14), signaled a 'Buy' action, reinforcing the positive trend. (investing.com)

Historical Context

To provide a broader perspective, the EUR/KRW exchange rate has shown a general upward trajectory over the past few years. In 2023, the exchange rate fluctuated between a low of 1,330.1187 KRW and a high of 1,489.0883 KRW, with an average rate of 1,413.4304 KRW. (exchangerates.org.uk) In 2024, the rate continued to rise, reaching a high of 1,464.3281 KRW in January. (exchangerates.org.uk) This upward trend has persisted into 2025, with the Euro reaching new highs against the Won.

Factors Influencing the Exchange Rate

Several factors have contributed to the fluctuations in the EUR/KRW exchange rate:

• Economic Performance: The Eurozone's economic recovery and growth have bolstered the Euro's strength. Conversely, South Korea's export-driven economy has faced challenges due to global supply chain disruptions and fluctuating demand, impacting the Won's value.

• Monetary Policies: Divergent monetary policies between the European Central Bank (ECB) and the Bank of Korea have influenced investor sentiment. The ECB's measures to curb inflation and stimulate growth have strengthened the Euro, while the Bank of Korea's policies have aimed at stabilizing the Won amid economic uncertainties.

• Global Market Sentiment: Geopolitical tensions and global economic developments have led investors to seek safe-haven currencies, benefiting the Euro. In contrast, emerging market currencies like the Won have experienced increased volatility.

Future Outlook

Looking ahead, forecasts suggest a continued appreciation of the Euro against the Won. Projections indicate that the EUR/KRW exchange rate could reach 1,627.25 within the next six months, marking a 2.73% increase. Over the next year, the rate is expected to rise by 8.72%, reaching 1,722.04. (coincodex.com) These projections are based on anticipated economic growth in the Eurozone and ongoing challenges in the South Korean economy.

Conclusion

The EUR/KRW exchange rate has demonstrated significant volatility in recent months, influenced by a complex interplay of economic indicators, monetary policies, and global market sentiments. While technical analysis points to a bullish trend, it is essential for investors and businesses engaged in Euro-Won transactions to stay informed about ongoing economic developments and policy changes that could impact the exchange rate.