ISO 4217 is a standard first published by International Organization for Standardization in 1978, which delineates currency designators, country codes (alpha and numeric), and references to minor units in three tables:
The International Organization for Standardization is an international standard-setting body composed of representatives from various national standards organizations.
A currency, in the most specific sense is money in any form when in use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money in common use, especially for people in a nation. Under this definition, US dollars (US$), pounds sterling (£), Australian dollars (A$), European euros (€), Russian rubles (₽) and Indian Rupees (₹) are examples of currencies. These various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.
Country codes are short alphabetic or numeric geographical codes (geocodes) developed to represent countries and dependent areas, for use in data processing and communications. Several different systems have been developed to do this. The term country code frequently refers to international dialing codes, the E.164 country calling codes.
The tables, history and ongoing discussion are maintained by SIX Interbank Clearing on behalf of ISO and the Swiss Association for Standardization.
SIX Interbank Clearing AG, based in Zurich, Switzerland, is a subsidiary of SIX Group.
The ISO 4217 code list is used in banking and business globally. In many countries the ISO codes for the more common currencies are so well known publicly that exchange rates published in newspapers or posted in banks use only these to delineate the currencies, instead of translated currency names or ambiguous currency symbols. ISO 4217 codes are used on airline tickets and international train tickets to remove any ambiguity about the price.
Business is the activity of making one's living or making money by producing or buying and selling products. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors."
In finance, an exchange rate is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country's currency in relation to another currency. For example, an interbank exchange rate of 114 Japanese yen to the United States dollar means that ¥114 will be exchanged for each US$1 or that US$1 will be exchanged for each ¥114. In this case it is said that the price of a dollar in relation to yen is ¥114, or equivalently that the price of a yen in relation to dollars is $1/114.The government has the authority to change exchange rate when needed.
A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.
The first two letters of the code are the two letters of the ISO 3166-1 alpha-2 country codes (which are also used as the basis for national top-level domains on the Internet) and the third is usually the initial of the currency itself. So Japan's currency code is JPY —JP for Japan and Y for yen. This eliminates the problem caused by the names dollar, franc, peso and pound being used in dozens of countries, each having significantly differing values. Also, if a currency is revalued, the currency code's last letter is changed to distinguish it from the old currency. In some cases, the third letter is the initial for "new" in that country's language, to distinguish it from an older currency that was revalued; the code sometimes outlasts the usage of the term "new" itself (for example, the code for the Mexican peso is MXN). Other changes can be seen, however; the Russian ruble, for example, changed from RUR to RUB, where the B comes from the third letter in the word "ruble".
ISO 3166-1 alpha-2 codes are two-letter country codes defined in ISO 3166-1, part of the ISO 3166 standard published by the International Organization for Standardization (ISO), to represent countries, dependent territories, and special areas of geographical interest. They are the most widely used of the country codes published by ISO, and are used most prominently for the Internet's country code top-level domains. They are also used as country identifiers extending the postal code when appropriate within the international postal system for paper mail, and has replaced the previous one consisting one-letter codes. They were first included as part of the ISO 3166 standard in its first edition in 1974.
A country code top-level domain (ccTLD) is an Internet top-level domain generally used or reserved for a country, sovereign state, or dependent territory identified with a country code.
The Internet is the global system of interconnected computer networks that use the Internet protocol suite (TCP/IP) to link devices worldwide. It is a network of networks that consists of private, public, academic, business, and government networks of local to global scope, linked by a broad array of electronic, wireless, and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents and applications of the World Wide Web (WWW), electronic mail, telephony, and file sharing.
Another example of the third letter not being the initial of the unit's name is EUR for the euro.
| Fictional currencies|
In addition to codes for most active national currencies ISO 4217 provides codes for "supranational" currencies, procedural purposes, and several things which are "similar to" currencies:
A precious metal is a rare, naturally occurring metallic chemical element of high economic value. Chemically, the precious metals tend to be less reactive than most elements. They are usually ductile and have a high lustre. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.
Gold is a chemical element with the symbol Au and atomic number 79, making it one of the higher atomic number elements that occur naturally. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental (native) form, as nuggets or grains, in rocks, in veins, and in alluvial deposits. It occurs in a solid solution series with the native element silver and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium.
Silver is a chemical element with the symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. The metal is found in the Earth's crust in the pure, free elemental form, as an alloy with gold and other metals, and in minerals such as argentite and chlorargyrite. Most silver is produced as a byproduct of copper, gold, lead, and zinc refining.
The use of an initial letter "X" for these purposes is facilitated by the ISO 3166 rule that no official country code beginning with X will ever be assigned. Because of this rule ISO 4217 can use "X" codes for non-country-specific currencies without risk of clashing with a future country code. ISO 3166 country codes beginning with "X" are used for private custom use (reserved), never for official codes. For instance, the ISO 3166-based NATO country codes (STANAG 1059, 9th edition) use "X" codes for imaginary exercise countries ranging from XXB for "Brownland" to XXR for "Redland", as well as for major commands such as XXE for SHAPE or XXS for SACLANT.
The inclusion of EU (denoting the European Union) in the ISO 3166-1 reserved codes list, allows the euro to be coded as EUR rather than assigned a code beginning with X, even though it is a supranational currency.
The ISO 4217 standard includes a crude mechanism for expressing the relationship between a major currency unit and its corresponding minor currency unit. This mechanism is called the currency "exponent" and assumes a base of 10. For example, USD (the United States dollar) is equal to 100 of its minor currency unit the "cent". So the USD has exponent 2 (10 to the power 2 is 100, which is the number of cents in a dollar). The code JPY (Japanese yen) is given the exponent 0, because its minor unit, the sen, although nominally valued at 1/100 of a yen, is of such negligible value that it is no longer used. Usually, as with the USD, the minor currency unit has a value that is 1/100 of the major unit, but in some cases (including most varieties of the dinar) 1/1000 is used, and sometimes ratios apply which are not integer powers of 10. Mauritania does not use a decimal division of units, setting 1 ouguiya (UM) equal to 5 khoums, and Madagascar has 1 ariary = 5 iraimbilanja. Some currencies do not have any minor currency unit at all and these are given an exponent of 0, as with currencies whose minor units are unused due to negligible value.
There is also a three-digit code number assigned to each currency, in the same manner as there is also a three-digit code number assigned to each country as part of ISO 3166. This numeric code is usually the same as the ISO 3166-1 numeric code. For example, USD (United States dollar) has code 840 which is also the numeric code for the US (United States).
The ISO standard does not regulate either the spacing, prefixing or suffixing in usage of currency codes. According however to the European Union's Publication Office, 4217 code is to be followed by a hard space and the amount:in English, Irish, Latvian and Maltese texts, the ISO
In Bulgarian, Croatian, Czech, Danish, Dutch, Estonian, Finnish, French, German, Greek, Hungarian, Italian, Lithuanian, Polish, Portuguese, Romanian, Slovak, Slovene, Spanish and Swedish the order is reversed; the amount is followed by a hard space and the ISO 4217 code:
Note that, as illustrated, the order is determined not by the currency, but by the native language of the document context.
In 1973, the ISO Technical Committee 68 decided to develop codes for the representation of currencies and funds for use in any application of trade, commerce or banking. At the 17th session (February 1978), the related UN/ECE Group of Experts agreed that the three-letter alphabetic codes for International Standard ISO 4217, "Codes for the representation of currencies and funds", would be suitable for use in international trade.
Over time, new currencies are created and old currencies are discontinued. Such changes usually originate from the formation of new countries, treaties between countries on shared currencies or monetary unions, or redenomination from an existing currency due to excessive inflation. As a result, the list of codes must be updated from time to time. The ISO 4217 maintenance agency (MA), SIX Interbank Clearing, is responsible for maintaining the list of codes.
The following is a list of active codes of official ISO 4217 currency names. In the standard the values are called "alphabetic code", "numeric code", and "minor unit".
|Code||Num||E||Currency||Locations using this currency|
|AED||784||2||United Arab Emirates dirham|
|ANG||532||2||Netherlands Antillean guilder|
|BAM||977||2||Bosnia and Herzegovina convertible mark|
|BOV||984||2||Bolivian Mvdol (funds code)|
|CHE||947||2||WIR Euro (complementary currency)|
|CHW||948||2||WIR Franc (complementary currency)|
|CLF||990||4||Unidad de Fomento (funds code)|
|CNY||156||2||Renminbi (Chinese) yuan|
|COU||970||2||Unidad de Valor Real (UVR) (funds code)|
|CRC||188||2||Costa Rican colon|
|CUC||931||2||Cuban convertible peso|
|CVE||132||2||Cape Verdean escudo|
|FKP||238||2||Falkland Islands pound|
|HKD||344||2||Hong Kong dollar|
|ILS||376||2||Israeli new shekel|
|KPW||408||2||North Korean won|
|KRW||410||0||South Korean won|
|KYD||136||2||Cayman Islands dollar|
|LKR||144||2||Sri Lankan rupee|
|MXV||979||2||Mexican Unidad de Inversion (UDI) (funds code)|
|NZD||554||2||New Zealand dollar|
|PGK||598||2||Papua New Guinean kina|
|SBD||090||2||Solomon Islands dollar|
|SHP||654||2||Saint Helena pound|
|SLL||694||2||Sierra Leonean leone|
|SSP||728||2||South Sudanese pound|
|STN||930||2||São Tomé and Príncipe dobra|
|TTD||780||2||Trinidad and Tobago dollar|
|TWD||901||2||New Taiwan dollar|
|USD||840||2||United States dollar|
|USN||997||2||United States dollar (next day) (funds code)|
|UYI||940||0||Uruguay Peso en Unidades Indexadas (URUIURUI) (funds code)|
|VES||928||2||Venezuelan bolívar soberano|
|XAF||950||0||CFA franc BEAC|
|XAG||961||.||Silver (one troy ounce)|
|XAU||959||.||Gold (one troy ounce)|
|XBA||955||.||European Composite Unit (EURCO) (bond market unit)|
|XBB||956||.||European Monetary Unit (E.M.U.-6) (bond market unit)|
|XBC||957||.||European Unit of Account 9 (E.U.A.-9) (bond market unit)|
|XBD||958||.||European Unit of Account 17 (E.U.A.-17) (bond market unit)|
|XCD||951||2||East Caribbean dollar|
|XDR||960||.||Special drawing rights||International Monetary Fund|
|XOF||952||0||CFA franc BCEAO|
|XPD||964||.||Palladium (one troy ounce)|
|XPF||953||0||CFP franc (franc Pacifique)||French territories of the Pacific Ocean: |
|XPT||962||.||Platinum (one troy ounce)|
|XSU||994||.||SUCRE||Unified System for Regional Compensation (SUCRE)|
|XTS||963||.||Code reserved for testing|
|XUA||965||.||ADB Unit of Account||African Development Bank|
|ZAR||710||2||South African rand|
The US dollar has two codes assigned: USD and USN (next day). The USS (same day) code is not in use any longer, and was removed from the list of active ISO 4217 codes in March 2014.
According to UN/CEFACT recommendation 9, paragraphs 8–9 ECE/TRADE/203, 1996, available online:
As of August 2018, there are no new codes planned to be added to the standard.
A number of active currencies do not have a ISO 4217 code, because they may be: (1) a minor currency pegged at par (1:1) to a larger currency, even if independently regulated, (2) a currency only used for commemorative banknotes or coins, or (3) a currency of an unrecognized or partially recognized state. These currencies include:
See Category:Fixed exchange rate for a list of all currently pegged currencies.
Despite having no official recognition in ISO 4217, the following non-ISO codes are sometimes used locally or commercially.
|Code||Num||E||Currency||Locations using this currency||Notes|
|CNH||–||2||Chinese yuan||Hong Kong||Used for offshore trading.|
|IMP||–||2||Isle of Man pound||Isle of Man||Also known as the Manx pound.|
|NIS||–||2||Israeli new shekel||Israel||NIS stands for New Israeli Shekel: NIS conflicts with ISO 4217, because NI stands for Nicaragua.|
|NTD||–||2||New Taiwan dollar||Taiwan|
|PRB||–||2||Transnistrian ruble||Transnistria||PRB conflicts with ISO 4217, because PR stands for Puerto Rico.|
|SLS||–||2||Somaliland shilling||Somaliland||SLS conflicts with ISO 4217, because SL stands for Sierra Leone.|
|RMB||–||2||Renminbi (Chinese) yuan||Mainland China||RMB is an abbreviation of its official name, RenMinBi.|
|ZWB||–||2||Zimbabwean bonds||Zimbabwe||Also known as the RTGS Dollar.|
In addition, GBX is sometimes used (for example on the London Stock Exchange) to denote Penny sterling, a subdivision of pound sterling, the currency for the United Kingdom.
Recently, cryptocurrencies have unofficially used ISO-like codes on various cryptocurrency exchanges, for instance LTC for Litecoin, NMC for Namecoin and XRP for the XRP Ledger. SIX Interbank Clearing (a Maintenance Agency of ISO) is currently studying the impact and role of cryptocurrencies and other independent currencies on ISO 4217.
|ETH||_||18||Ether||ETH conflicts with ISO 4217, because ET stands for Ethiopia.|
|XBC||_||8||Bitcoin Cash||XBC conflicts with European Unit of Account 9 (E.U.A.-9)|
|XBT||_||8||Bitcoin||BTC conflicts with ISO 4217, because BT stands for Bhutan.|
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A number of currencies had official ISO 4217 currency codes and currency names until their replacement by another currency. The table below shows the ISO currency codes of former currencies and their common names (which do not always match the ISO 4217 names).
|AOK||...||0||Angolan kwanza||1977-01-08||1990-09-24||AON (AOA)|
|AON||024||0||Angolan new kwanza||1990-09-25||1995-06-30||AOR (AOA)|
|AOR||982||0||Angolan kwanza readjustado||1995-07-01||1999-11-30||AOA|
|ARL||...||2||Argentine peso ley||1970-01-01||1983-05-05||ARP (ARS)|
|ARP||032||2||Argentine peso argentino||1983-06-06||1985-06-14||ARA (ARS)|
|BAD||070||2||Bosnia and Herzegovina dinar||1992-07-01||1998-02-04||BAM|
|BRB||...||2||Brazilian cruzeiro||1970||1986-02-28||BRC (BRL)|
|BRC||076||2||Brazilian cruzado||1986-02-28||1989-01-15||BRN (BRL)|
|BRN||076||2||Brazilian cruzado novo||1989-01-16||1990-03-15||BRE (BRL)|
|BRE||076||2||Brazilian cruzeiro||1990-03-15||1993-08-01||BRR (BRL)|
|BRR||987||2||Brazilian cruzeiro real||1993-08-01||1994-06-30||BRL|
|BYB||112||2||Belarusian ruble||1992||1999-12-31||BYR (BYN)|
|CSK||200||Czechoslovak koruna||1919-04-10||1993-02-08||CZK/SKK (CZK/EUR)|
|DDM||278||East German mark||1948-06-21||1990-07-01||DEM (EUR)|
|ECV||983||.||Ecuador Unidad de Valor Constante (funds code)||1993||2000-02-29||—|
|ESA||996||Spanish peseta (account A)||1978||1981||ESP (EUR)|
|ESB||995||Spanish peseta (account B)||?||1994-12||ESP (EUR)|
|GQE||...||Equatorial Guinean ekwele||1975||1985-12-31||XAF|
|ILP||...||3, 2||Israeli lira||1948||1980-02-20||ILR (ILS)|
|ISJ||...||2||Icelandic old króna||1922||1981-06-30||ISK|
|MCF||...||2||Monegasque franc||1960||1995-03-31||FRF (EUR)|
|MKN||...||Old Macedonian denar||1992-04-27||1993-06-30||MKD|
|PEH||...||Peruvian old sol||1863||1985-02-01||PEI (PEN)|
|SDP||...||Sudanese old pound||1956||1992-06-08||SDD (SDG)|
|SML||...||0||San Marinese lira||1864||1992-08-31||ITL (EUR)|
|STD||678||São Tomé and Príncipe Dobra||1977||2018-04-01||STN|
|SUR||...||Soviet Union ruble||1961||1991-12-26||RUR (RUB/AMD/AZN/BYN/EUR/GEL/KZT/KGS/MDL/TJS/TMT/UAH/UZS)|
|TPE||626||Portuguese Timorese escudo||1959||1976||USD|
|USS||998||2||United States dollar (same day) (funds code)||?||2014-03-28||—|
|UYN||...||Uruguay new peso||1975-07-01||1993-03-01||UYU|
|VAL||...||0||Vatican lira||1929||1994-12-31||ITL (EUR)|
|VEB||862||2||Venezuelan bolívar||?||2008-01-01||VEF (VES)|
|VEF||937||2||Venezuelan bolívar fuerte||?||2018-08-20||VES|
|XEU||954||.||European Currency Unit||1979-03-13||1998-12-31||EUR|
|XFO||...||Gold franc (special settlement currency)||1803||2003||XDR|
|XFU||...||.||UIC franc (special settlement currency)||?||2013-11-07||EUR|
|YDD||720||South Yemeni dinar||?||1996-06-11||YER|
|YUD||...||2||Yugoslav dinar||1966-01-01||1989-12-31||YUN (MKD/RSD/EUR/HRK/BAM)|
|YUN||890||2||Yugoslav dinar||1990-01-01||1992-06-30||YUR (MKD/RSD/EUR/HRK/BAM)|
|YUR||...||2||Yugoslav dinar||1992-07-01||1993-09-30||YUO (RSD/EUR)|
|YUO||...||2||Yugoslav dinar||1993-10-01||1993-12-31||YUG (RSD/EUR)|
|YUG||...||2||Yugoslav dinar||1994-01-01||1994-01-23||YUM (RSD/EUR)|
|YUM||891||2||Yugoslav dinar||1994-01-24||2003-07-02||CSD (RSD/EUR)|
|ZAL||991||.||South African financial rand (funds code)||1985-09-01||1995-03-13||—|
|ZRZ||180||3||Zairean zaire||1967||1993||ZRN (CDF)|
|ZRN||180||2||Zairean new zaire||1993||1997||CDF|
|ZWC||...||2||Rhodesian dollar||1970-02-17||1980||ZWD (USD/RTGS Dollar)|
|ZWD||716||2||Zimbabwean dollar||1980-04-18||2006-07-31||ZWN (USD/RTGS Dollar)|
|ZWN||942||2||Zimbabwean dollar||2006-08-01||2008-07-31||ZWR (USD/RTGS Dollar)|
|ZWR||935||2||Zimbabwean dollar||2008-08-01||2009-02-02||ZWL (USD/RTGS Dollar)|
|ZWL||932||2||Zimbabwean dollar||2009-02-03||2009-04-12||USD/RTGS Dollar|
The euro is the official currency of 19 of the 28 member states of the European Union. This group of states is known as the eurozone or euro area, and counts about 343 million citizens as of 2019. The euro is the second-largest and second-most traded currency in the foreign exchange market after the United States dollar, and is divided into 100 cents.
The European Currency Unit was a basket of the currencies of the European Community member states, used as the unit of account of the European Community before being replaced by the euro on 1 January 1999, at parity. The ECU itself replaced the European Unit of Account, also at parity, on 13 March 1979. The European Exchange Rate Mechanism attempted to minimize fluctuations between member state currencies and the ECU. The ECU was also used in some international financial transactions, where its advantage was that securities denominated in ECUs provided investors with the opportunity for foreign diversification without reliance on the currency of a single country.
Special drawing rights are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). SDRs are units of account for the IMF, and not a currency per se. They instead represent a claim to currency held by IMF member countries for which they may be exchanged. SDRs were created in 1969 to supplement a shortfall of preferred foreign exchange reserve assets, namely gold and U.S. dollars.
The UIC Franc was a virtual currency unit used by the International Union of Railways (UIC). It was withdrawn from the ISO-4217 currency list in 2013. The euro has taken its place.
Listed below is a table of historical exchange rates relative to the U.S. dollar, at present the most widely traded currency in the world. An exchange rate represents the value of one currency in another. An exchange rate between two currencies fluctuates over time. The value of a currency relative to a third currency may be obtained by dividing one U.S. dollar rate by another. For example, if there are ¥120 to the dollar and €1.2 to the dollar then the number of yen per euro is 120/1.2 = 100.
The Surinamese dollar has been the currency of Suriname since 2004. It is normally abbreviated with the dollar sign $, or alternatively Sr$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
ISO 3166-1 numeric codes are three-digit country codes defined in ISO 3166-1, part of the ISO 3166 standard published by the International Organization for Standardization (ISO), to represent countries, dependent territories, and special areas of geographical interest. They are similar to the three-digit country codes developed and maintained by the United Nations Statistics Division, from which they originate in its UN M.49 standard. They were first included as part of the ISO 3166 standard in its second edition in 1981, but they were released by the United Nations Statistics Division since as early as 1970.
The Turkish lira is the currency of Turkey and the self-declared Turkish Republic of Northern Cyprus.
A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market. The currency that is used as the reference is called the counter currency, quote currency or currency and the currency that is quoted in relation is called the base currency or transaction currency.
The Smithsonian Agreement, announced in December 1971, created a new dollar standard, whereby the currencies of a number of industrialized nations were pegged to the US dollar. These currencies were allowed to fluctuate by 2.25% against the dollar. The Smithsonian Agreement was created by the Group of Ten (G-10) nations raised the price of gold to 38 dollars, an 8.5% increase over the previous price at which the US government had promised to redeem dollars for gold. In effect, the changing gold price devalued the dollar by 7.9%.
Besides being the main currency of the United States, the American dollar is used as the standard unit of currency in international markets for commodities such as gold and petroleum. Some non-U.S. companies dealing in globalized markets, such as Airbus, list their prices in dollars.