Current Status

On March 13, 2026, the KRW/JPY exchange rate settled at approximately 0.1068. This signifies that one South Korean Won (KRW) exchanged for 0.1068 Japanese Yen (JPY). The pair experienced a daily decline of -0.429%, indicating a weaker KRW relative to the JPY, or conversely, a stronger JPY. The movement was attributed 74% to factors affecting the JPY and 26% to factors affecting the KRW, making the JPY the primary driver for the day's movement.

Primary Drivers & Economic Context

The recent weakness in both the KRW and JPY appears to be occurring within a broader context of global financial market volatility, especially concerning energy prices and geopolitical risk. News from mid-March 2026 indicates that both Japan and South Korea's finance ministers expressed "serious concern over the recent sharp depreciation" of their respective currencies, noting that they are ready to act against "excessive volatility". This suggests shared pressure, likely stemming from rising crude oil prices—which batter import-dependent economies—and safe-haven demand boosting the US Dollar, pushing both the JPY and KRW lower against it. The JPY's stronger relative performance (74% attribution) suggests its drivers (perhaps interest rate differentials or central bank policy expectations compared to other major currencies) were more pronounced on this specific day than the factors influencing the KRW.

Mid/Long-term Trends and Volatility Analysis

Analyzing the longer-term data reveals underlying trends:

• 1 Week: The pair showed a slight net increase of +0.45% (+0.0005 JPY), suggesting a minor short-term trend favoring the KRW against the JPY, despite the recent down day. The Volatility (SD) of 0.35% is relatively low, and the Efficiency (Choppiness) of 0.31 suggests the recent week has been somewhat choppy rather than a clean, straight-line trend.
• 6 Months: The trend remains positive for the KRW, with a +0.51% gain (+0.0005 JPY). The Efficiency of 0.01 indicates this longer period has been highly choppy or directionless, while the Volatility (SD) of 0.57% is moderate.
• 1 Year: Over the full year, the KRW has appreciated significantly by +4.90% (+0.0050 JPY) against the JPY. The Volatility (SD) is slightly higher at 0.63%, but the Efficiency of 0.04 confirms that the overall yearly movement has been trending overall, though still experiencing significant zigzagging action. The 1-year high reached 0.1098 JPY.

For Japanese residents in KRW, while the JPY strengthened on March 13th, the medium-to-long term history shows the KRW has generally gained value against the JPY. The market environment is currently characterized by elevated concern over rapid currency depreciation and volatility across both nations.