1 RMB = 186. 1504 won 1. The won is the currency in circulation in South Korea and is issued by the Bank of Korea, the central bank of South Korea. The basic unit is won, and the ISO code is KRW. The monetary unit in Korea is "_", and Chinese characters are written as "circle" or "yuan"; The currency symbol is _, and sometimes the old name "_" is still used.

Second, there are two kinds of Korean currency: paper money and coins. There are four kinds of paper money: 1000 won, 5000 won, 10000 won and 50000 won, which can be easily distinguished according to the historical figures and colors printed on the paper money. The total number of Korean coins is 1 won, 5 won, 10 won, 50 won, 100 won, 500 won and 6 currencies. There are four kinds of coins in circulation: 10 won, 50 won, 100 won and 500 won (10 won is the smallest unit). Because the exchange rate of won is high and worthless, 1 yuan and 5-yuan coins stopped circulating in February 2006. On June 23, 2009, the Bank of Korea, the Central Bank of Korea, issued a banknote with a face value of 50,000 won (about US$ 40), which is the largest banknote issued by the country so far. Common pronunciations "won" and "Huan": it is the pronunciation usage of ancient Korean currency.

Third, when Korea was founded, its currency was issued with reference to the Japanese yen. From 1 yuan-1 ,000 yuan denomination. Later, after nearly 60 years of South Korea's economic take-off, South Korea's economic prosperity made the value of today's won too high, but it did not have much impact on the circulation of money. In 2009, 50,000 won was issued according to market demand. The saying that "worthless" is unscientific, and it can only be said that the currency is overvalued.

Money is generally equivalent, and there is a certain proportional relationship between the total money supply and the actual purchasing power. For example, a country has goods worth 654.38+0 billion yuan, and this country has printed 654.38+0 billion yuan of currency. Then what is worth one yuan is sold for one yuan. However, if this country printed 654.38+000 billion yuan in currency and the total value of goods is still 654.38+000 billion yuan, then what was originally sold at 1 yuan will be sold at 654.38+00 yuan. There are a large number of coins printed in South Korea, and things that cost 1 yuan in China cost more than 100 yuan there. So the face value is large.

Fourth, in the past, if you want to change won, you can only change dollars first, and then take dollars to South Korea to change won. The exchange rate of RMB against the US dollar is relatively stable, because the People's Bank of China linked the RMB to the US dollar, and the exchange rate of RMB against the US dollar remained basically unchanged when the exchange rates of other currencies fluctuated greatly. After the exchange rate reform, the People's Bank of China announced that the RMB was linked to a basket of currencies such as the US dollar and the euro, but other currencies accounted for a small proportion. Therefore, in South Korea, if RMB is converted into won, in fact, the bank's operation is to convert RMB into US dollars and then into won. Consumers have to pay the difference twice and get relatively little won.

5. At present, domestic banks have officially started the two-way cash exchange business of Korean won (KRW), and Korean won has officially joined the foreign currency column of RMB foreign exchange quotation. China Bank is the first bank in China to be allowed to offer two-way cash exchange of won. 1000 won is equivalent to about 6. 10 yuan. After the opening of the two-way cash exchange service for won, Bank of China will provide services for residents and non-resident individuals to exchange won cash for RMB cash. You need to provide your valid identity certificate when you exchange. However, only non-resident individuals are provided with the service of converting RMB cash into Korean won cash. Moreover, domestic banks are temporarily unable to provide foreign exchange purchase business in won. Individuals who go to Korea for business, business or tourism can first purchase foreign exchange in RMB and then convert it into won.