Won Stronger Than Summer Peak — Exchanging Money Now Could Cost You More Than in July

If you haven't yet exchanged your travel budget into Korean won, it's worth checking where the exchange rate stands. The won-dollar rate, which hit a record high on July 1, has dropped sharply since September, making the won relatively stronger.

When the exchange rate rises (the won weakens), you get more won for the same amount of dollars; when the rate falls (the won strengthens), you get less won. In early July, a weak Japanese yen combined with foreign investors pulling out of Korea's stock market to push the won down, but that pressure has since eased, leaving the won stronger in mid-September than it was in July.

In other words, if you're still going by the exchange rate you saw back in July when planning your trip, you'll actually get less won for your money now. Rates change daily, so it's worth checking that day's posted rate on a bank app or currency comparison site before deciding when to exchange money ahead of your trip.