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Exchange Rate Calculator

Convert between currencies and track historical exchange rates

Amount

KRW

9,312.00 KRW

Exchange Rate

as of July 05, 2025 at 7:32 AM

GBP 1 GBP = KRW 1,862.40 KRW

Market analysis of GBP to KRW currency exchange rates

Analysis as of April 2025

Over the past few months, the exchange rate between the British Pound (GBP) and the South Korean Won (KRW) has exhibited notable fluctuations, reflecting a dynamic interplay of economic factors. This report delves into the recent trends, underlying causes, and potential future directions of the GBP/KRW exchange rate.

Recent Trends in GBP/KRW Exchange Rate

In 2024, the GBP/KRW exchange rate experienced a significant appreciation. The rate commenced at approximately 1,647.95 KRW per GBP on January 1, 2024, and peaked at 1,852.71 KRW on December 27, 2024, marking a 12.28% increase over the year. (exchange-rates.org)

The upward trajectory continued into 2025. By April 28, 2025, the exchange rate reached a high of 1,930.72 KRW per GBP. However, this was followed by a slight decline, with the rate standing at 1,872.27 KRW on June 28, 2025. (exchange-rates.org)

Factors Influencing the Exchange Rate

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

  1. Economic Performance: The UK's economic recovery post-pandemic has bolstered investor confidence, leading to a stronger GBP. Conversely, South Korea's export-driven economy has faced challenges due to global supply chain disruptions, impacting the KRW.

  2. Monetary Policies: Divergent monetary policies between the Bank of England and the Bank of Korea have influenced capital flows. The UK's interest rate hikes to combat inflation have attracted foreign investment, strengthening the GBP. In contrast, South Korea's relatively accommodative stance has exerted downward pressure on the KRW.

  3. Trade Balances: The UK's trade deficit has narrowed due to increased service exports, supporting the GBP. Meanwhile, South Korea's trade surplus has been affected by decreased demand for semiconductors, a key export, weakening the KRW.

Potential Future Directions

Looking ahead, the GBP/KRW exchange rate may be influenced by:

  • Economic Indicators: Upcoming GDP growth rates, employment figures, and inflation data from both countries will provide insights into economic health and currency strength.

  • Central Bank Policies: Future decisions by the Bank of England and the Bank of Korea regarding interest rates and quantitative easing will impact investor sentiment and currency valuations.

  • Global Economic Conditions: Developments such as changes in global trade policies, geopolitical tensions, and shifts in commodity prices could affect both currencies.

In conclusion, the GBP/KRW exchange rate has shown significant volatility over the past year, driven by a complex interplay of economic performance, monetary policies, and trade dynamics. Stakeholders should closely monitor these factors to make informed decisions regarding currency-related activities.