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 analyzes the KRW/MXN exchange rate trends from 2021 to mid-2025, highlighting key movements and potential influencing factors.

Exchange Rate Trends from 2021 to 2025

2021:

In 2021, the KRW/MXN exchange rate exhibited relative stability, with the Won trading between 0.0169 and 0.0189 MXN. The average exchange rate for the year was approximately 0.0177 MXN per KRW. (exchangerates.org.uk)

2022:

The year 2022 saw a slight depreciation of the Won against the Peso. The exchange rate ranged from 0.014 to 0.016 MXN per KRW, with an average rate of around 0.015 MXN. (freecurrencyrates.com)

2023:

In 2023, the KRW/MXN exchange rate continued its downward trend. The Won traded between 0.0126 and 0.0155 MXN, averaging approximately 0.0136 MXN per KRW. (exchangerates.org.uk)

2024:

Data for 2024 indicates that the exchange rate remained relatively stable, with the Won trading around 0.0145 MXN per KRW in September 2024. (currencyconverter.io)

2025:

As of mid-2025, the KRW/MXN exchange rate has shown slight fluctuations. The highest rate recorded was 0.01446 MXN per KRW on January 27, 2025, while the lowest was 0.01356 MXN on April 25, 2025. The average exchange rate for this period is approximately 0.01400 MXN per KRW. (exchange-rates.org)

Factors Influencing the KRW/MXN Exchange Rate

Several factors have contributed to the fluctuations in the KRW/MXN exchange rate over the past few years:

1. Economic Performance:

• South Korea: As a major exporter of technology and automobiles, South Korea's economic performance significantly impacts the Won's value. Economic slowdowns or booms can lead to depreciation or appreciation of the currency, respectively.

• Mexico: Mexico's economy, heavily reliant on oil exports and remittances, influences the Peso's strength. Fluctuations in global oil prices and remittance inflows can affect the Peso's value.

1. Monetary Policies:

• Interest Rates: Diverging interest rate policies between the Bank of Korea and the Bank of Mexico can lead to capital flows that impact the exchange rate. Higher interest rates in one country can attract investors seeking better returns, strengthening that country's currency.

1. Global Economic Events:

• Trade Relations: Changes in trade dynamics, such as the US-China trade tensions, can indirectly affect both currencies by influencing global supply chains and demand for exports.

• Pandemic Impact: The COVID-19 pandemic led to economic uncertainties worldwide, affecting investor confidence and currency valuations.

Conclusion

The KRW/MXN exchange rate has experienced a gradual depreciation of the Won against the Peso from 2021 to mid-2025. This trend reflects the interplay of various economic factors, including national economic performances, monetary policies, and global events. Investors and businesses engaged in transactions involving these currencies should monitor these factors closely to make informed decisions.