The value of 1k in dollars is $1,000. One grand is an alternative term for 1000. While ‘k’ is not an official unit of measurement for money, it is frequently substituted for large quantities.
The reason ‘k’ is used to refer to $1,000 is because ‘k’ is an abbreviation for ‘kilo’ Kilo is a unit of measurement equal to one thousand, like kilogramme and kilometre. According to some ideas, it is employed because of the way computers process data. 1k is equal to 210, or 1024, which is a kilobyte or kb. However, most people view it as 1,000, omitting the 24, and hence use the letter ‘k’ to refer to $1,000. ‘1k’ and ‘100k’ are more prevalent than 1,000 and 100,000.