Currency Codes & SymbolsWhether considering investing in foreign currency or merely looking up currency conversion rates, the symbol used to denote a currency isn't all that is required. The dollar sign, $, is used by Australia, Canada, and the United States, or example. Knowing the exact currency code will ascertain which currency is in question or, in investing terms, in play. Alpha CodesThe most commonly used and more easily identified currency code structure uses ISO 3166, two-letter country code and a third alpha character for the currency used. For example, Australia's ISO 3166 alpha country code is AU. Its currency is the dollar. Therefore, the three-character code for Australian currency-its currency code-is AUD. Every country has a two-letter code, but not every country uses independent currency. The European Union comprises several European countries with individual country codes, but they all use the same currency, the euro. Spain, for example has a country code of ES. Its currency used to be the Peseta. Before the country adopted the euro, its currency code was ESP. However, since conversion, it-along with every member of the European Union-notes a currency code of EUR, denoting only the euro.
Top 10 Most Traded Currencies| County & Currency | Code | Symbol |
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| America (United Sates of America), Dollars | USD | $ | The United States dollar is a far-reaching currency. It is used more than any other currency in international transactions, and it is officially used in some other sovereign countries, including Ecuador, El Salvador, and East Timur. Several overseas British Territories also use the U.S. dollar as their sole form of currency, but in an unofficial capacity. Still more nations link their national currency to the U.S. dollar via a fixed exchange rate. The U.S. dollar uses a decimal system for smaller denominations. One U.S. dollar is equal to 100 cents, also called pennies. Amounts under one dollar are only issued as coins and consist of the following: nickel (5 cents), dime (10 cents), quarter (25 cents), and half-dollar (50 cents). Read More... Or Close (X). | | Euro | EUR | € | The Euro is the official currency adopted by 17 members of the European Union. This group of European Union members is called eurozone and includes the following nations: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, and Spain. The Euro is used unofficially in five more countries and one disputed territory. Those countries are Andorra, Monaco, Montenegro, San Marino, and Vatican, with Kosovo being the disputed territory. Several other countries in the world are heavily dependent on the Euro, having established a fixed exchange rate with their own domestic currency. After the U.S. dollar, the Euro is the second-most traded currency in the world. It is also the second-most used reserve currency, again after the U.S. dollar. As of summer 2010, over 800 billion euros were in circulation. Read More... Or Close (X). | | Japan, Yen | JPY | ¥ | The Japanese Yen is the official currency of Japan and very influential not only in East-Asian markets, but markets worldwide. It is the third-most traded currency in the world and the fourth-most used reserved currency. The only currencies used more for reserves are the U.S. dollar, the euro, and the Great Britain pound. Following the custom of East Asia, yen in large quantities are counted in multiples of 10,000 rather than multiples of 1,000 as they are in most of the world. Yen, in Japanese, directly translates as "round object" and is pronounced with a silent "Y." The yen was introduced in 1871 as a response to Spanish dollars prominent in the area at the time and the silver coins minted in Hong Kong. The first yen were a dollar unit in function and were modeled after the Spanish piece of eight. In 1897, Japan linked the yen to a gold standard. In 1973, the yen was taken off the gold standard and allowed to float on the market. Read More... Or Close (X). | | Britain (United Kingdom), Pounds | GBP | £ | Pound sterling is more commonly known as the Great Britain pound, or simply only one or the other of the two terms: the pound or sterling. It is the official currency of the United Kingdom, its overseas Territories, and Crown Dependencies. Other areas in which the pound sterling is in uses includes Gibraltar, the Falkland Islands, Saint Helena, and Ascension. Some of these countries have established a fixed exchange rate between pound sterling and their own currency. Pound sterling is currently the fourth-most traded currency in the world. It is behind only the U.S. dollar, the euro, and the Japanese Yen. Pound sterling is the third-most used currency in global reserves. In 1971, the pound sterling was converted to a decimal currency. 1 pound sterling can be divided into 100 pence. Read More... Or Close (X). | | Australia, Dollars | AUD | $ | The Australian Dollar is the form of currency used by the Commonwealth of Australia. This region includes Norfolk Island, Christmas Island, and Cocos (Keeling) Islands, as well as the Pacific Island regions of Tuvalu, Nauru, and Kiribati. The Australian currency is typically contracted through the dollar sign ($). The dollar is sometimes distinguished from other currencies using the dollar by A$. It can be divided into 100 cents. Read More... Or Close (X). | | Switzerland, Francs | CHF | CHF | The Swiss franc is the official currency of Switzerland, Liechtenstein and Italian region of Campione d'Italia. It is also widely used in the German region of Busingen. It is currently the fifth-most used form of reserve currency. While there were once several instances of the franc issued by the countries, the Swiss franc is the only remaining version that is legal tender in Europe. The Swiss franc is subdivided into 100 centimes. The origin of the Swiss franc dates back to 1798 when the Helvetic Republic made efforts to standardize the 25 different monetary systems used in the country. In 1865, Switzerland became one of the countries of the Latin Monetary Union, along with Belgium, France, and Italy. This established a silver standard for the franc. In the 20th century, the Swiss franc became pegged to the U.S. dollar and backed by a minimum of 40 percent in gold reserves. The gold reserve requirement was terminated in 2000. Read More... Or Close (X). | | Canada, Dollars | CAD | $ | The Canadian dollar is the official currency of Canada. It is often distinguished from other dollars with a capital C in front of the symbol, as C$. The Canadian dollar is the seventh-most traded currency in the world. The top traded currencies are the U.S. dollar, euro, yen, English pound, Swiss franc, and the Australian dollar. The former Canadian currency was the Canadian pound, but since 1841 the country longed for a decimal monetary system based on the U.S. dollar rather than a British sterling system. Because Canada was still a British province, this effort was resisted for years, but slowly through the decades, Canada was able to implement a dollar-based decimal system in 1871. Read More... Or Close (X). | | Hong Kong, Dollars | HKD | HK$ | The Hong Kong dollar is the official currency of Hong Kong. Even though Hong Kong is considered an administrative region of China, it continues to operate its own government that issues separate passports, stamps, and currency. The Hong Kong dollar is the ninth-most traded currency on the foreign exchange. The sign is sometimes denoted as HK$ in order to distinguish it from dollars issued by other countries, such as the United States and Australia. The Hong Kong dollar is decimal monetary system with 100 cents to the dollar. Hong Kong became a free trade port in 1841, but relied primarily on foreign currency. Eventually, Hong Kong's economy came to be based on sterling silver coins from the United Kingdom. Hong Kong abandoned the silver standard, and its own distinct dollar was issued in 1935, but it remained pegged to pound sterling. Read More... Or Close (X). | | Sweden, Kronor | SEK | kr | The krona is the official currency of Sweden. It is also used in the Aland Islands together with the euro. It is abbreviated as kr, and in the plural, the currency is kronor. Krona translates to "crown" and the currency is often referred to as Swedish crowns by the British and some other English-speaking nations. The krona is a decimal currency with one krona being divided into 100 ore. However, Sweden ended production of the last ore coin, the 50 ore, in 2009. As of October 2010, all ore coins are devalued as currency and no longer legal tender, but ore still exist and are valid as electronic payments. Krona coins are currently produced in denominations of 1 krona, 5 kronor, and 10 kronor. All coins bear the royal motto of the monarch of Sweden. Banknotes issued in Sweden include the 20 kronor, 50 kronor, 100 kronor, 500 kronor, and 1000 kronor. Read More... Or Close (X). | | New Zealand, Dollars | NZD | $ | The New Zealand dollar is the official currency of New Zealand, but is also used in the Cook Islands of Niue, Pitcairn, and Tokelau. The New Zealand dollar is a decimal-based currency with a division of 100 cents to the dollar. The symbol for the New Zealand dollar can be depicted as NZ$ to distinguish it from dollars used in other countries, such as Australia and the United States. The dollar in New Zealand is colloquially known as the kiwi, and the official $1 coin has one side that depicts a kiwi fruit. The New Zealand dollar was officially adopted by the country in 1963 as a replacement for the pound. At its inception, the New Zealand dollar was pegged to the U.S. dollar and remained so until 1985. In 1985, the NZD was set to float on the international currency exchange. It was initially set at $0.444 USD and, to date, has reached a maximum value of $0.82 USD. Read More... Or Close (X). |
Other World Currencies| County & Currency | Code | Symbol |
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Numerical Currency CodesMost people are not aware there are three-digit currency codes. In typical live venues, the numerical codes are not visible and are rarely mentioned in trading publications or newspapers. They do, however, have value and importance. Each numerical code designates not just a country and monetary system, it also can denote financial transactions that are based on non-monetary modes of trade, such as gold or silver. There is even a numerical code for 'not otherwise listed.' The primary difficulty in using numerical codes is that the exact number sequence must be accurate to correctly annotate the currency designation. If either a digit or a sequence is incorrect, erroneous information is presented. Alpha currency codes are more commonly used because of that. SummaryThree-digit currency codes specify transaction currencies, and not all transactions involving modes of currency involve a country's monetary system. Accuracy is imperative and often confusing. The Australian dollar's numeric currency code is 036, for example, but 360 denotes Indonesia and the Rupiah. Alpha codes denote currency designations. The ending letter D is for dollar, but there's a difference between the Australian dollar and the New Zealand dollar, respectively represented as AUD and NZD. The simplicity of the alpha currency codes is a primary impetus in its common use. |
