Won price is relatively stable during the April 30 and May 1 holidays.

Won exchange rate today April 29, 2024 in the domestic market

According to a survey by Cong Thuong Newspaper, during the April 30 - May 1 holiday period, there did not seem to be many fluctuations in foreign exchange rates. At 9:30 a.m. this morning, April 29, 2024, the Won exchange rate at banks was relatively stable.

Foreign exchange rates today April 29, 2024 at Vietcombank . (Screenshot at 9:30)

At Vietcombank, the buying and selling rates of Won Vietcombank are 15.92 VND/KRW and 19.31 VND/KRW. The buying and selling rates of Won at VietinBank are 16.14 VND/KRW and 20.14 VND/KRW.

Compare the Korean Won (KRW) exchange rate between the 7 largest banks in Vietnam. Today, April 29, 2024, the KRW exchange rate in the buying direction has 0 banks increasing the buying price, 1 bank decreasing the buying price and 6 banks keeping the buying price unchanged compared to yesterday.

Meanwhile, in the selling direction, 0 banks increased their selling prices, 1 bank decreased their selling prices, and 6 banks kept their selling prices unchanged compared to yesterday.

Today, April 29, 2024, Tien Phong Bank bought Korean Won (KRW) at the highest price of 17.52 VND/KRW. The lowest price to sell Korean Won (KRW) was Tien Phong Bank at the price of 19.05 VND/KRW.

Won exchange rate today April 29, 2024 surveyed at some banks. (Screenshot at 9:30)

Black Market Won Rate

Today, April 29, 2024, a survey on the black market at 9:30 a.m. showed that the Won exchange rate decreased to buy KRW at 18.16 VND/KRW and sell at 18 VND/KRW.

Won exchange rate at today's market price 4/29/2024. (Screenshot at 9:30)

In Hanoi , Ha Trung Street (Hoan Kiem District) is the largest foreign exchange place where many popular currencies on the market can be exchanged such as USD (US Dollar), Euro, Yen (Japanese Yen), Won (Korean Won) ... and many other currencies. However, exchanging money at these foreign exchange streets must comply with the regulations of Vietnamese law.

How does the Korean Won fluctuate?

The Korean Won has been on a weakening trend recently, mainly due to expectations that the US Federal Reserve (FED) will delay cutting US interest rates. In addition, fluctuations in other key Asian currencies such as the Japanese Yen and the Chinese Yuan have also contributed to increasing pressure on the Won.

Asian policymakers started the year believing that a series of US interest rate cuts would ease the tension in interest rate differentials. However, a series of higher-than-expected inflation data in the first three months of the year and a resilient US economy have put an end to those hopes.

The traditional relationship between the Korean Won and export growth and capital flows has recently been disrupted. Normally, export growth leads to an appreciation of the Won. However, recently, despite Korea's exports growing by nearly 10% per year, the Won has continued to depreciate against the USD. In addition, the relationships between interest rates and exchange rates, foreign investment and exchange rates have also been disrupted.

Reasons for the Won's Mysterious Plunge

Increased policy uncertainty: Since 2007, the global economy has faced increasing crises and uncertainties. Events such as the global financial crisis (2007-2009), the European sovereign debt crisis (2011-2012), the US-China trade war (2018-2019), and the COVID-19 pandemic have all contributed to the uncertainty. Policy uncertainty has increased the demand for safe havens (such as the US dollar), and in turn, has weakened riskier currencies such as the Korean Won.

In addition, the yield differential between regions is also a factor affecting the exchange rate: The US economic growth is superior to other developed countries, and the US Federal Reserve (Fed) is more active in raising interest rates than other major central banks. This makes the US Treasury bond yield much higher, the Korean Won weaker against the USD.

The Korean Won is particularly sensitive to volatility: Korean businesses are largely B2B (business-to-business) businesses, so volatility will weigh on export growth and the overall economy. This could have a significant impact on the recent exchange rate. Overall, the outlook for the Korean Won in the short term remains volatile and dependent on many factors.

Investors and businesses need to closely monitor global economic and geopolitical developments to be able to accurately assess the risks and opportunities associated with the Won.

Refer to foreign currency exchange addresses - buying and selling Won in Hanoi:

1. Quoc Trinh Ha Trung Gold Shop - No. 27 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

2. Gold and Silver Fine Arts - No. 31 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

3. Minh Chien Gold and Silver Store - No. 119 Cau Giay, Cau Giay District, Hanoi

4. Thinh Quang Gold and Silver Company - No. 43 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

5. Toan Thuy Store - No. 455 Nguyen Trai, Thanh Xuan, Hanoi and No. 6 Nguyen Tuan, Thanh Xuan District, Hanoi

6. Bao Tin Minh Chau Gold, Silver and Gemstones - No. 19 Tran Nhan Tong, Bui Thi Xuan, Hoan Kiem District, Hanoi

7. Chinh Quang Store - No. 30 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

8. Kim Linh 3 Store - No. 47 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

9. Huy Khoi Store - No. 19 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

10. System of transaction offices at banks such as: Sacombank, VietinBank, Vietcombank, SHB

Refer to the popular foreign currency exchange - Won buying and selling addresses in Ho Chi Minh City:

1. Minh Thu Currency Exchange - No. 22 Nguyen Thai Binh, District 1, Ho Chi Minh City

2. Kim Mai Gold Shop - 84 Cong Quynh, District 1, Ho Chi Minh City

3. Kim Chau Gold Shop - 784 Dien Bien Phu, Ward 10, District 10. Ho Chi Minh City

4. Saigon Jewelry Center - 40-42 Phan Boi Chau, District 1, Ho Chi Minh City

5. Kim Hung foreign currency exchange agency - No. 209 Pham Van Hai, Binh Chanh district, Ho Chi Minh City

6. DOJI Jewelry Store - Diamond Plaza Le Duan, 34 Le Duan, Ben Nghe, District 1, Ho Chi Minh City

7. Kim Tam Hai Shop - No. 27 Truong Chinh, Tan Thoi Nhat Ward, District 12, Ho Chi Minh City

8. Bich Thuy Gold Shop - No. 39 Pham Van Hai Market, Ward 3, Tan Binh District, Ho Chi Minh City

9. Ha Tam Gold Shop - No. 2 Nguyen An Ninh, Ben Thanh Ward, District 1, Ho Chi Minh City

10. System of transaction offices at banks in Ho Chi Minh City such as: Sacombank, VietinBank, Vietcombank, SHB, Eximbank.

* Information for reference only.

Source: https://congthuong.vn/ty-gia-won-hom-nay-2942024-gia-won-tuong-doi-on-dinh-trong-chuoi-ky-nghi-le-304-va-15-317366.html