The exchange rate between won and RMB is: 1 won =0.005907 RMB; 1 RMB = 169.2824 won.
There are two kinds of Korean currency: paper money and coins. There are four kinds of paper money, namely 1000 won, 5,000 won, 10000 won and 50,000 won, which are equivalent to RMB 5.9 yuan, 29.6 yuan, 59.2 yuan and 296 yuan respectively.
As of February 20 19, there are four kinds of Korean won in circulation: 10 won, 50 won, 100 won and 500 won (10 won is the smallest unit), which are equivalent to RMB 0.06, 0.3 yuan, 0.59 yuan and 2.96 yuan respectively.
Extended data
According to the angle of buying and selling foreign exchange, there are buying exchange rate, selling exchange rate, intermediate exchange rate and cash exchange rate.
1, buying exchange rate
Also known as the buying price, that is, the exchange rate used by banks to buy foreign exchange from peers or customers. When the direct quotation method is adopted, the exchange rate with less foreign currency converted into local currency is the buying price, while the indirect pricing method is the opposite.
2. Selling exchange rate
Also known as the selling price, that is, the exchange rate used by banks to sell foreign exchange to their peers or customers. When the direct quotation is adopted, the exchange rate with more foreign currency converted into local currency is the selling price, while the indirect pricing method is the opposite.
There is a difference between buying and selling, which is the income of banks from buying and selling foreign exchange, generally 1‰-5‰. The buying and selling exchange rates used by banks to buy and sell foreign exchange are also called interbank exchange rates, which are actually the buying and selling prices in the foreign exchange market.
3. Intermediate exchange rate
Is the average of the buying price and the selling price. Western newspapers often use the intermediate exchange rate to report exchange rate news, and the arbitrage exchange rate is also calculated by using the intermediate exchange rate set of related currencies.
4. Cash exchange rate
Generally speaking, foreign currency is not allowed to circulate in the country. Only by converting foreign currency into local currency can we buy domestic goods and services, thus generating the exchange rate for buying and selling foreign exchange cash, that is, the cash exchange rate.
The exchange rate of cash should be the same as that of foreign exchange, which is reasonable, but because it is necessary to transport foreign currency cash to various issuing countries, it needs certain freight and insurance fees. Therefore, the exchange rate when banks receive foreign currency cash is usually lower than the foreign exchange purchase price; The exchange rate at which banks sell foreign currency cash is higher than other foreign exchange selling rates.
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