ISO Currency Code

An ISO currency code is a three-letter code that is used to identify a currency. The codes are assigned by the International Organization for Standardization (ISO), and they are used in a variety of financial transactions, including international trade and foreign exchange.

The ISO currency codes are based on the ISO 4217 standard, which was first published in 1978. The standard defines a three-letter code for each currency that is used in the world. The codes are assigned in alphabetical order, and they are not based on the name of the currency or the country in which it is used.

For example, the ISO currency code for the United States dollar is USD. The code for the euro is EUR, and the code for the British pound is GBP.

The ISO currency codes are used in a variety of financial transactions, including international trade and foreign exchange. They are also used to identify currencies in financial reports and other documents.

The ISO currency codes are a valuable tool for financial professionals. They provide a standard way to identify currencies, which can help to reduce confusion and errors.

In addition to the three-letter codes, the ISO also assigns a numeric code to each currency. The numeric codes are used in some financial transactions, such as international wire transfers.

The ISO currency codes are an important part of the global financial system. They provide a standard way to identify currencies, which can help to reduce confusion and errors.