A won rate worked out through the dollar
On Korea's currency market the won trades directly mostly against the US dollar, so its price against other currencies is calculated by multiplying the won–dollar rate by that currency's dollar rate. A rate worked out this way is called an arbitraged rate. The won–euro rate moves whenever either the won–dollar or the euro–dollar rate moves, so one alone cannot explain it.
At 1,400 won per dollar and 1.10 dollars per euro, one euro costs 1,540 won.
For learning, not investment advice. Decisions are your own.
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