Exchange Rate Calculator

The exchange rate between the South Korean Won (KRW) and the Mexican Peso (MXN) has experienced notable fluctuations over the past few years. This report provides an analysis of the KRW/MXN exchange rate trends, highlighting key movements and potential influencing factors.

Historical Exchange Rate Trends

2021:

In 2021, the KRW/MXN exchange rate remained relatively stable, with 1 KRW averaging around 0.018 MXN throughout the year. (freecurrencyrates.com)

2022:

The year 2022 saw a slight depreciation of the KRW against the MXN. In April 2022, 1 KRW was equivalent to approximately 0.016 MXN. (freecurrencyrates.com)

2023:

In 2023, the KRW/MXN exchange rate continued its downward trend. By December 2023, 1 KRW was valued at about 0.0131 MXN. (exchangerates.org.uk)

2024:

The exchange rate in 2024 exhibited further depreciation of the KRW against the MXN. For instance, on August 29, 2024, 1 KRW was equal to 0.0149 MXN. (valutafx.com)

2025:

As of early 2025, the KRW/MXN exchange rate has shown slight fluctuations. On January 27, 2025, 1 KRW reached a peak of 0.01446 MXN. (exchange-rates.org)

Factors Influencing the Exchange Rate

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

1. Economic Performance:

   • South Korea: As a major exporter of technology and automobiles, South Korea's economic performance significantly impacts the KRW. Economic slowdowns or trade imbalances can lead to depreciation.
   • Mexico: Mexico's economy, heavily reliant on oil exports and remittances, influences the MXN. Fluctuations in oil prices and remittance inflows can affect the peso's strength.

2. Monetary Policies:

   • Central bank policies, including interest rate adjustments by the Bank of Korea and Banco de México, play a crucial role in currency valuation. Divergent monetary policies can lead to capital flows that impact exchange rates.

3. Global Economic Events:

   • Events such as the COVID-19 pandemic, trade tensions, and geopolitical developments have introduced volatility in global currency markets, affecting both KRW and MXN.

Implications for Stakeholders

Understanding the KRW/MXN exchange rate trends is vital for various stakeholders:

• Businesses: Companies engaged in trade between South Korea and Mexico need to monitor exchange rate movements to manage costs and pricing strategies effectively.

• Investors: Currency fluctuations can impact returns on investments denominated in KRW or MXN. Investors should consider exchange rate trends in their risk assessments.

• Travelers: Individuals traveling between the two countries should be aware of exchange rate trends to budget appropriately.

Conclusion

The KRW/MXN exchange rate has experienced a gradual depreciation of the KRW against the MXN over the past few years, influenced by economic performances, monetary policies, and global events. Stakeholders should remain vigilant and consider these factors in their financial planning and decision-making processes.