INR to KRW: Indian Rupee to Korean Won Exchange Rate Guide (2026)
Live rate, conversion table, and expert guide for India-Korea remittances and transfers
Table of Contents
- Current INR/KRW Rate & Conversion Table
- The India-Korea Remittance Corridor
- Factors That Affect the INR to KRW Rate
- Best Services to Send INR to KRW
- Transfer Method Comparison Table
- Wise vs Indian Bank: Detailed Comparison
- Step-by-Step: How to Send Money from India to Korea
- Frequently Asked Questions
1. Current INR to KRW Rate & Conversion Table
The Indian Rupee (INR) to Korean Won (KRW) exchange rate reflects the economic relationship between the world's most populous nation and one of Asia's most dynamic technology economies. India is now a major source of highly skilled workers — particularly IT engineers, data scientists, and technology professionals — who contribute to South Korea's thriving semiconductor, display, and software industries. The INR/KRW pair is an important corridor for remittances, business payments, and education fees.
As of May 15, 2026, the interbank mid-market rate is approximately 1 INR = 15.5511 KRW. Because both the Indian Rupee and the Korean Won are emerging-market currencies, neither is freely traded in large volumes outside their home markets. This means the INR/KRW spread at retail exchanges tends to be wider than for major pairs like EUR/KRW or USD/KRW. Most providers route the conversion through USD — i.e., INR → USD → KRW — which is why using a specialist service like Wise or Remitly is particularly important for this corridor.
INR to KRW Conversion Table
The table below shows live approximate conversions for common Indian Rupee amounts:
| Indian Rupee (INR) | Korean Won (KRW) — Approx. | Context |
|---|---|---|
| ₹1,000 INR | ₩15,551 KRW | Small transfer / test amount |
| ₹5,000 INR | ₩77,756 KRW | Budget travel spending (1–2 days Seoul) |
| ₹10,000 INR | ₩155,511 KRW | One week budget in Korea (meals + transport) |
| ₹25,000 INR | ₩388,778 KRW | Monthly grocery/utilities contribution |
| ₹50,000 INR | ₩777,557 KRW | Typical monthly remittance to family |
| ₹100,000 INR | ₩1,555,113 KRW | Significant transfer (tuition partial payment) |
Rates are approximate mid-market rates as of May 15, 2026. Actual amounts vary by provider and transfer method. Use our live INR/KRW calculator for real-time precision.
Historical Context: INR/KRW Rate Trends
Over the past five years, the INR/KRW rate has generally traded in a range of approximately 14 to 18 KRW per Indian Rupee. Key movements have been driven by:
- Reserve Bank of India (RBI) rate policy: India's rate cycle has been a major driver. The RBI's aggressive rate hikes in 2022–2023 to combat post-pandemic inflation helped support the rupee against the won.
- Korea's export cycle: During global semiconductor boom periods (2021, 2024), strong Korean export revenues strengthened the KRW, pushing INR/KRW lower. During semiconductor downturns, the won weakened and the rupee bought more won.
- India's structural growth story: India's sustained GDP growth of 6%–7% annually has gradually supported the rupee's purchasing power relative to most Asian currencies over the medium term.
- USD as intermediary: Because INR/KRW is effectively INR/USD × USD/KRW, movements in the US dollar have outsized effects on this pair. Dollar strength typically means both currencies weaken against USD, but the net effect on INR/KRW depends on their relative vulnerabilities.
2. The India-Korea Remittance Corridor
India and South Korea share a growing and economically significant bilateral relationship. India is South Korea's 9th-largest trading partner, with bilateral trade exceeding $20 billion annually. The people-to-people dimension — including workers, students, and family connections — creates a meaningful remittance corridor in both directions.
India to Korea: IT Professionals and Technology Workers
South Korea's technology sector — led by Samsung, LG, SK Hynix, Hyundai, and dozens of smaller tech firms — has increasingly recruited Indian engineers and IT specialists, particularly for software development, artificial intelligence, and semiconductor design roles. Cities like Seoul, Suwon (Samsung headquarters), and Gumi host significant Indian professional communities.
These workers regularly send money back to India to support family members, repay education loans, invest in Indian real estate, or build savings. A typical Indian IT professional in Korea may remit ₹30,000–₹1,00,000 per month to India — a meaningful financial flow that adds up to billions of rupees annually across the community.
Korea to India: Korean Businesses and Investors
South Korean companies have invested heavily in India across manufacturing, electronics assembly, and retail (Samsung's manufacturing plants in Noida and Chennai, LG's plants across India). Korean business executives and investors transferring corporate funds between Korea and India also contribute to the KRW/INR flow in the reverse direction.
Indian Students in Korea
South Korea has become an increasingly popular destination for Indian postgraduate students, particularly at KAIST (Korea Advanced Institute of Science and Technology), POSTECH, Yonsei University, and SNU (Seoul National University). Indian students pay tuition fees and living expenses in KRW, funded by parents sending INR from India. Tuition at top Korean universities typically runs ₹3,00,000–₹6,00,000 per semester equivalent, making efficient INR→KRW transfers essential for families.
CEPA and Growing Economic Ties
India and South Korea signed a Comprehensive Economic Partnership Agreement (CEPA) in 2009, which has been updated and expanded since. This framework has boosted trade flows and reduced barriers. Discussions about a special economic zone for Korean companies in India and deeper cooperation in the semiconductor supply chain are expected to further increase INR/KRW transaction volumes through the 2020s.
3. Factors That Affect the INR to KRW Exchange Rate
Reserve Bank of India (RBI) Policy
The RBI sets India's benchmark repo rate and manages the rupee through foreign exchange market interventions. When the RBI raises rates, INR-denominated assets become more attractive to foreign investors, strengthening the rupee against the KRW. The RBI also has a strong track record of smoothing excessive INR volatility, which can compress INR/KRW fluctuations.
Bank of Korea (BOK) Policy Rate
South Korea's central bank similarly influences KRW strength through its rate decisions. BOK rate cuts — such as those that began in late 2024 — tend to weaken the KRW, which means Indian Rupees buy more Korean Won. BOK decisions happen eight times per year and are closely followed by FX traders.
India's Current Account and Remittance Flows
India is the world's largest recipient of remittances, receiving over $120 billion annually. Large inflows of foreign currency (USD, GBP, EUR, SGD) support the rupee's overall value. India's current account deficit — driven by oil imports and gold purchases — exerts downward pressure on the rupee. When global oil prices spike, INR typically weakens, pushing INR/KRW lower.
South Korea's Export Performance
Korea's export-led economy makes the KRW highly sensitive to global trade conditions. Strong semiconductor and EV export seasons (typically spring and autumn) generate foreign currency inflows that support KRW strength. Korea's trade surplus in these periods pushes INR/KRW lower (fewer rupees needed to buy a won). Export downturns have the opposite effect.
Global Risk Sentiment and USD Correlation
Both INR and KRW are classified as "risk-on" emerging market currencies. During periods of global risk aversion — financial crises, geopolitical shocks, pandemic fears — investors sell both currencies and buy safe-haven USD, JPY, and CHF. The net effect on INR/KRW depends on which currency depreciates more. Historically, KRW tends to be more volatile during global risk-off events, meaning INR/KRW often rises (rupee temporarily stronger relative to won) during global market turmoil.
India-Korea Bilateral Trade and Investment
Genuine bilateral trade generates organic demand for both currencies. Korean companies paying Indian suppliers, IT vendors, and service providers need INR — creating demand for the rupee. Conversely, Indian businesses importing Korean electronics, chemicals, and manufacturing equipment need KRW. These flows, while smaller than the USD-dominated global trade, exert a direct effect on the INR/KRW rate.
4. Best Services to Send INR to KRW (India to Korea)
Because INR and KRW are both emerging-market currencies, the choice of transfer service has an unusually large impact on how much your recipient receives. Here are the best options ranked:
1. Wise (Best Overall for India to Korea)
Wise handles INR-to-KRW transfers using the mid-market rate on both the INR/USD and USD/KRW legs, giving you the best overall rate in the market. The total fee for sending INR to a Korean bank account is typically 0.8%–1.5% of the transfer amount — significantly lower than any Indian bank wire transfer. You can send from an Indian bank account directly. Transfers typically arrive in 1–2 business days at Korean banks including KB Kookmin, Shinhan, Hana, and Woori.
Best for: Regular remittances, amounts above ₹5,000, professionals sending to their own Korean account.
2. Remitly (Best for Speed)
Remitly offers a dedicated India-to-Korea corridor with competitive rates and the option for express delivery (as fast as minutes to hours for debit-funded transfers). Remitly's economy option (1–3 business days) is the most cost-effective. Their app is highly rated by Indian diaspora users for its transparency and ease of use.
Best for: Urgent transfers, first-time users (often promotional zero fees), amounts under ₹1,00,000.
3. SBI / HDFC / ICICI International Wire (Familiar but Costly)
India's major banks — State Bank of India, HDFC Bank, and ICICI Bank — all offer international wire transfers. While the familiarity and branch network is comforting, the all-in cost is typically 3–5 times higher than Wise or Remitly. Banks charge a flat wire fee (₹500–₹1,500), an exchange rate markup of 2%–3%, and the receiving Korean bank often charges an additional fee (₩15,000–₩25,000).
Best for: Very large transfers (above ₹20,00,000) where a dedicated relationship manager may negotiate better rates, or if the recipient's Korean bank requires a traditional SWIFT wire for compliance purposes.
4. PayPal (Avoid for INR to KRW)
PayPal's cross-border personal transfers between India and Korea carry a punishing 4%–5% exchange rate margin on top of flat fees. For ₹50,000, PayPal costs approximately ₹2,500–₹3,000 more than Wise. There is essentially no scenario where PayPal is cost-competitive for India-Korea remittances.
5. India to Korea Transfer Cost Comparison
The table below compares what a Korean recipient would receive when you send ₹50,000 INR from India using different services (illustrative, based on 1 INR = 16.00 KRW mid-market):
| Transfer Service | Exchange Rate | Fees | KRW Received* | Verdict |
|---|---|---|---|---|
| Wise | Mid-market | ~₹600 (1.2%) | ₩790,400 | Best overall |
| Remitly (Economy) | Mid −0.5% | ₹0 (promo) / ~₹400 | ₩796,000 | Best first transfer |
| HDFC Bank Wire | Mid −2.5% | ₹1,000 flat | ₩754,000 | Expensive |
| SBI Wire | Mid −3% | ₹500 flat | ₩746,000 | Expensive |
| PayPal (International) | Mid −4.5% | ₹300 + 3.9% flat | ₩714,000 | Avoid |
*Illustrative figures based on 1 INR = 16.00 KRW mid-market. Actual rates, fees, and amounts vary. Always verify current rates before transferring. Receiving bank charges in Korea not included.
6. Wise vs Indian Bank: The Real Cost Difference
The difference between using Wise and a traditional Indian bank for INR-to-KRW transfers is substantial. Here is a detailed breakdown for a ₹1,00,000 transfer:
| Cost Component | Wise | Indian Bank Wire |
|---|---|---|
| Exchange Rate Markup | 0% (mid-market) | 2.5%–3.5% markup |
| Rate Markup Cost on ₹1 Lakh | ₹0 | ₹2,500–₹3,500 |
| Transfer Fee | ~₹1,200 (1.2%) | ₹500–₹1,500 flat |
| Receiving Bank Fee (Korea) | Usually none | ₩10,000–₩25,000 |
| Total All-In Cost | ~₹1,200 | ~₹4,500–₹5,800 |
| Saving with Wise | Approximately ₹3,300–₹4,600 saved per ₹1 lakh transferred | |
Over a year, an Indian IT professional in Korea sending ₹1 lakh monthly to India would save approximately ₹40,000–₹55,000 annually by switching from an Indian bank wire to Wise. This is a meaningful sum that compounds over a multi-year assignment.
When Indian Banks May Be Better
There are limited cases where a traditional Indian bank wire may be preferable:
- Very large amounts: For transfers above ₹50,00,000, a bank may offer a custom rate that narrows the gap with Wise significantly.
- Compliance-sensitive transfers: Some corporate or regulatory transfers require a traditional SWIFT wire with full bank-to-bank documentation that only an established bank can provide.
- Recipient without a smartphone: If the Indian recipient has difficulty using online banking or apps, a bank-to-bank wire is more familiar.
7. Step-by-Step: How to Send Money from India to Korea Using Wise
Step 1: Create a Wise Account (3–5 minutes)
Go to wise.com or download the Wise app. Register with your email and choose "Personal Account." Enter your name, date of birth, and Indian address as they appear on your PAN card or Aadhaar. Indian residents can now fully use Wise for outward remittances under RBI's Liberalised Remittance Scheme (LRS) up to $250,000 USD per year.
Step 2: Verify Identity (5–15 minutes)
Upload a photo of your PAN card (or Aadhaar) and a selfie. Wise uses automated document verification — most Indian accounts are verified within minutes. First-time users may need to complete a quick video call or submit additional documents. KYC is mandatory under RBI and FEMA regulations.
Step 3: Set Transfer Amount and Currency
Click "Send money." Enter the amount in INR and select KRW as the destination currency. Wise will immediately show you: (1) the exact INR/KRW rate, (2) the fee in INR, and (3) exactly how many KRW the recipient will receive. There are no hidden costs — what you see is what they get.
Step 4: Enter Korean Bank Details
You will need the recipient's Korean bank account number and the bank's SWIFT code. Common SWIFT codes:
• KB Kookmin: CZNBKRSE
• Shinhan: SHBKKRSE
• Hana: KOEXKRSE
• Woori: HVBKKRSEXXX
• NH Nonghyup: NACFKRSE
The recipient's name must match exactly as it appears on their Korean bank account.
Step 5: Declare Purpose of Transfer (LRS Requirement)
Indian senders must declare the purpose of the transfer as required under FEMA/LRS rules. Common purposes: "Family Maintenance," "Education Expenses," "Maintenance of Close Relatives Abroad." Select the appropriate purpose from Wise's dropdown menu. Wise handles the Form A2 declaration digitally — no physical paperwork needed for amounts under ₹5,00,000.
Step 6: Fund the Transfer from Your Indian Bank
Wise will provide Indian bank account details (IFSC and account number) to make a NEFT/RTGS/IMPS payment. Transfer the INR from your Indian bank account to Wise's Indian account. Once Wise receives your payment (usually within minutes for IMPS/RTGS), they release the equivalent KRW to your Korean recipient. Delivery confirmation arrives via email and app notification.
Important: LRS Rules for Indian Senders
Under the Reserve Bank of India's Liberalised Remittance Scheme, Indian residents may remit up to USD $250,000 (approximately ₹2 crore) per financial year for permitted current or capital account transactions. Sending money to a Korean family member, for education, or for travel all fall within permitted purposes. Keep records of all transfers for income tax purposes — large remittances may be flagged during IT assessments. From October 2023, a 20% Tax Collected at Source (TCS) applies to overseas remittances above ₹7 lakh per year under LRS (except for education and medical purposes funded by loans).
8. Frequently Asked Questions
Q: What is the current INR to KRW exchange rate?
As of May 15, 2026, the live mid-market rate is approximately 1 INR = 15.5511 KRW (or 0.0643 INR per 1 KRW). This rate changes continuously during market hours. Check FXKRW's live INR/KRW calculator for the most current rate.
Q: What is the best way to send money from India to Korea?
For most users, Wise offers the best combination of rate and fee — typically 3–4 times cheaper than a traditional Indian bank wire. Remitly is a close second and is often best for your first transfer (frequently offers zero-fee promotions). Both apps are available on iOS and Android, support Indian bank accounts, and deliver to all major Korean banks within 1–2 business days.
Q: Can I exchange INR to KRW in cash in Korea?
It is extremely difficult to exchange physical Indian Rupee notes in South Korea. The INR is not freely convertible, and Korean banks and money changers rarely hold rupee inventory. You should use an online transfer service (Wise or Remitly) to move funds directly into a Korean bank account rather than attempting to carry and exchange rupee cash. If you arrive in Korea with rupees, your best option is to convert them to USD at an Indian bank before departure.
Q: Is there a limit on how much I can send from India to Korea?
Under India's Liberalised Remittance Scheme (LRS), you can send up to USD $250,000 per financial year for permitted purposes (family support, education, travel, investment). There is no specific lower limit. Note that remittances above ₹7 lakh per year (excluding education/medical loans) are subject to 20% TCS, which is refundable when you file your income tax return.
Q: How long does an INR to KRW transfer take?
With Wise, an INR-funded transfer to a Korean bank typically takes 1–2 business days from when Wise receives your INR payment. The IMPS/RTGS payment from your Indian bank to Wise is near-instant. Wise then converts and routes the KRW, which arrives at the Korean bank within 1 business day in most cases. Weekend and holiday transfers may take an extra day.
More Korean Won Exchange Rate Resources
Get live INR/KRW rates, compare transfer services, and read our complete guides to Korean Won exchange.
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