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ISO Currency Code: Definition and List for Major Countries

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Updated September 19, 2024

ISO Currency Code: The three-letter alphabetic codes that represent the various currencies used throughout the world. — Investopedia / NoNo Flores

What Is an ISO Currency Code?

ISO currency codes are three-letter alphabetic codes that represent the various currencies used throughout the world. When combined in pairs, they make up the symbols and 澳洲幸运5开奖号码历史查询:cross rates used in currency trading.

Each of the country-specific three-letter alphabetic codes also has a corresponding three-digit numeric code. These codes are identified by the 澳♓洲幸运5开奖号码历史查询:Internatiꦦonal Organization for Standardization (ISO), a nongovernmental organization that provides standards for manufacturing, commerce, technology, and communication. For currencies, the governing document is called ISO 4217:2015.

Key Takeaways

ISO currency codes are the three-letter alphabetic codes that represent the various currencies used throughout the world.
The ISO standard committees established standardized currency codes in 1978.
ISO currency codes designate the base and quote currencies in forex price quotes.
ISO has also designated lesser know numeric equivalents to the three-letter currency codes.

Understanding ISO Currency Codes

ISO currency codes are central to 澳洲幸运5开奖号码历史查询:currency pairs, which are the quotation and pricing structures of the currencies traded in the 澳洲幸运5开奖号码历史查询:forex market. Thꦑe value of a currency is a rate and is determined by its comparison to another currency.

The first three-digit code used to designate a currency in a currency pair quotation is called the 澳洲幸运5开奖号码历史查询:base currency, and the second currency is called the 澳洲幸运5开奖号码历史查询:quote currency. The currency pair indicates how much of the quote currency is needed to purchase one unit of the base currenc🐈y.

For example, EUR/USD is the quote for the euro against the U.S. dollar. EUR is the three-letter ISO currency code for the euro, and USD is the code for the U.S. dollar. A quoted price for this pair of 1.2500 means that one euro is exchanged for 1.25 U.S. dollars because, in this case, EUR is the base cuꦕrrency and USD is the quote currency (or counter curre💎ncy). Another way of looking at this is that it will cost you $125 (USD) to buy €100 (EUR).

ISO wasn't involved in currency transactions until 1973 when the standards-making body decided it would be useful to be involved. After five years of collaboration and deliberation, the first standardized currency codes were published in 1978, with a standard on how they should change.

ISO Alphabetic Codes vs. Numeric Codes

🦄 ISO 4217:2015 establishes the three-letter alphabetic codes that are used globally for currency exchanges. It also establishes equivalent three-digit numeric codes for each currency. For example, the three-digit numeric code for the U.S. dollar is 840, and the numeric code for the euro is 978.

In most instances, you won't see currencies quoted using numbers like this (978/840). Foreign exchange (forex) markets, for example, use𒅌 the three-letter codes for currency pairs. However, the codes are designed to be used by both manual and automated systems.

In some cases, such as trades or orders that make use o꧅f computer al🐻gorithms, the numeric codes are easier to use and allow for more effective processing.

Major Currency Codes

The ISO website offers a complete of currency codes in XML and XMS formats. All of the major currency pairs have very 澳洲幸运5开奖号码历史查询:liquid markets that trade 24 hours a day every business day, and they have very narrow spreads.

The major currency pairs are as follows:

EUR/USD - Euro / U.S. dollar
GBP/USD - 澳洲幸运5开奖号码历史查询:Great Britain pound (sterling) / U.S. dollar
USD/JPY - U.S. dollar / 澳洲幸运5开奖号码历史查询:Japanese yen
USD/CHF - U.S. dollar / 澳洲幸运5开奖号码历史查询:Swiss Franc

Important

Val꧙ue traded vs. the U.S. dollar is the top criteria for classification as major currency pairs.

澳洲幸运5开奖号码历史查询: Other important currencies 🔴include:

What Are Currency Codes in Forex?

In foreign exchange (forex) markets, currency codes are the three letter codes that identify which currency pairs are being 𝓡traded. For example, USD/CHF is a U.S. dollar and Swiss franc pair. These codes are established by the International Organization for Standardization (ISO) and are used globally.

What Are the Top Traded Currencies?

According to the most recent data from the Bank for International Settlements, eight currencies are present in the majority of global forex trades. They are the U.S. dollar (USD), euro (EUR), Japanese yen (JPY), British pound (GBP), Chinese yuan renminbi (CNY), Australian dollar (AUD), Canadian dollar (CAD), and Swiss franc (CHF).

What Are SWIFT Currency Codes?

SWIFT currency c🌟odes are the same as ISO currencಌy codes. SWIFT is the . Because ISO codes are used in SWIFT messages, they are often referred to as SWIFT codes.

What Is the Currency Code for the USA?

The curr🌄ency code for the United States dollar, the currency of the United States of America, is USD. Its symbol is $. The U.S. dollar is sometimes abbreviated to US$ to distinguish it from other dollar currencies.

What Is the Currency Code for the UK?

The currency code for the British poundꦰ sterling, the currency used in the United Kingdom, is GBP. Its symbol is £.

The Bottom Line

ISO currency codes a🧜re three-letter codes that represent the currencies used throughout the world for financial transactions and forex markets. Each letter code also has a corresponding numeric code, though they are not used as frequentlᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚy.

These codes were established and standardized in 1978. ISO codes are sometimes referred to as SWIFT codes because they are used by the Society for Worldwide Interbank Financial Telecommunications. They are also used in currency exchanges, particularly forex markets, where they designate the base and quote currencies.

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