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ISO 4217
From Wikipedia, the free encyclopedia
The tables, history and ongoing discussion are maintained by SIX Interbank Clearing on behalf of ISO
and the Swiss Association for Standardization.[4]
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 different 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.
Contents
◾ 1 Code formation
◾ 1.1 X currencies
◾ 1.2 Treatment of minor currency units (the "exponent")
◾ 1.3 Currency numbers
◾ 2 Position of ISO 4217 code in amounts
◾ 3 History
◾ 4 Active codes
◾ 4.1 USD/USS/USN, three currency codes belonging to the US
◾ 5 Non ISO 4217 currencies
◾ 5.1 Currencies without ISO 4217 currency codes
◾ 5.2 Unofficial currency codes
◾ 6 Historical currency codes
◾ 7 See also
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◾ 8 References
◾ 9 External links
Code formation
The first two letters of the code are the two letters of 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 and pound being used in
dozens of different 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 A list of exchange rates for various
MXN). Other changes can be seen, however; the Russian ruble, base currencies given by a money
for example, changed from RUR to RUB, where the B comes changer in Thailand, with the
from the third letter in the word "ruble". Thailand Baht as the counter (or
quote) currency.
X 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:
◾ Codes for precious metals Gold (XAU), Silver (XAG), Palladium (XPD), and Platinum (XPT) are
formed by prefixing the element's chemical symbol with the letter "X". These "currency units" are
denominated as one troy ounce of the specified metal as opposed to "USD 1" or "EUR 1".
◾ The code XTS is reserved for use in testing.
◾ The code XXX is used to denote a "transaction" involving no currency.
◾ There are also codes specifying certain monetary instruments used in international finance, e.g.
XDR is the symbol for special drawing right issued by the International Monetary Fund.
◾ The codes for most supranational currencies, such as the East Caribbean dollar, the CFP franc, the
CFA franc BEAC and the CFA franc BCEAO. The predecessor to the euro, the European
Currency Unit (ECU), had the code XEU.
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
without risk of clashing with a future country code. ISO 3166 country codes beginning with "X" are
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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. Consequently, ISO 4217 can use "X" codes for non-country-specific
currencies without risk of clashing with future country codes.
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 is given the exponent 0, because its minor unit, the Sen,
although nominally valued at 100th 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 100th of the major unit, but in
some cases (including most varieties of the dinar) 1000th 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) =
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.
Currency numbers
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).
a sum of EUR 30
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 fixed space and the ISO 4217 code:
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History
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. Frequently, these changes are
due to the formation of new governments, treaties between countries standardizing on a shared currency,
or revaluation of 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
(http://www.currency-iso.org/en/home/tables/table-a1.html), is responsible for maintaining the list of
codes.
Active codes
The following is a list of active codes of official ISO 4217 currency names.
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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.
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8. In applications where monetary resources associated with a currency (i.e. funds) need not be
specified and where a field identifier indicating currency is used, the first two (leftmost)
characters are sufficient to identify a currency—example: US for United States dollars for general,
unspecified purposes where a field identifier indicating currency is present. (A field identifier can
be a preprinted field heading in an aligned document or a similarly-agreed application in
electronic transmission of data.)
9. In applications where there is a need to distinguish between different types of currencies, or
where funds are required as in the banking environment, or where there is no field identifier, the
third (rightmost) character of the alphabetic code is an indicator, preferably mnemonic, derived
from the name of the major currency unit or fund—example: USD for general, unspecified
purposes; USN for United States dollar next-day funds, and USS for funds which are immediately
available for Federal Reserve transfer, withdrawal in cash or transfer in like funds (same-day
funds). Since there is no need for such a distinction in international trade applications, the funds
codes have not been included in the Annex to the present Recommendation.
A number of currencies are not included in ISO 4217, because these currencies are: (a) minor currencies
pegged 1:1 to a larger currency, even if independently regulated (b) a legal tender only issued as
commemorative banknotes or coinage, or (c) 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.
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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.
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See also
◾ List of circulating currencies
◾ Currency
◾ Tables of historical exchange rates
◾ List of international trade topics
◾ SWIFT codes
References
1. Current currencies & funds (http://www.currency-iso.org/en/home/tables/table-a1.html)
2. Current funds (http://www.currency-iso.org/en/home/tables/table-a2.html)
3. Historic denominations (http://www.currency-iso.org/en/home/tables/table-a3.html)
4. SIX Interbank Clearing (http://www.currency-iso.org/en/home.html)
5. Rules for expressing monetary units (http://publications.europa.eu/code/en/en-370303.htm)
6. Number of digits after the decimal separator.
7. "Unidad de valor real (UVR) – Banco de la República de Colombia" [Unit of Real Value (UVR)]
(http://www.banrep.gov.co/es/uvr). Banco de la República (in Spanish). Retrieved 29 November 2013.
8. According to Article 4 of the 1994 Paris Protocol [1]
(http://www.mfa.gov.il/MFA/Peace+Process/Guide+to+the+Peace+Process/Gaza-
Jericho+Agreement+Annex+IV+-+Economic+Protoco.htm). The Protocol allows the Palestinian Authority
to adopt additional currencies. In West Bank the Jordanian dinar is widely accepted and in Gaza
Strip the Egyptian pound is often used.
9. The Malagasy ariary and the Mauritanian ouguiya are technically divided into five subunits (the iraimbilanja
and khoum respectively) the coins display "1/5" on their face and are referred to as a
"fifth" (Khoum/cinquième); These are not used in practice, but when written out, a single significant digit is
used. E.g. 1.2 UM.
10. "Current currency & funds code list" (http://www.currency-iso.org/en/home/tables/table-a1.html). Swiss
Association for Standardization. Retrieved 9 December 2013.
11. "Amendment of ISO 4217" (http://www.currency-
iso.org/dam/isocy/downloads/dl_currency_iso_amendment_148.pdf) (PDF). 17 October 2010.
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External links
◾ The official list of ISO 4217 alphabetic and numeric codes (http://www.currency-
iso.org/en/home/tables/table-a1.html)
◾ ISO 4217 Maintenance Agency (http://www.currency-iso.org/)
◾ An older list of ISO 4217 alphabetic codes that contains some history of ISO 4217
(http://www.unece.org/cefact/recommendations/rec09/rec09_ecetrd203.pdf) (PDF file)
◾ Another list of numeric and alphabetic ISO 4217 currency codes
(http://fx.sauder.ubc.ca/currency_table.html)
◾ A C++ library for handling ISO currencies (http://sourceforge.net/projects/ccy)
◾ Position of the ISO code or euro sign in amounts (http://publications.europa.eu/code/en/en-
370303.htm#position)
◾ Typing a Euro symbol on a non-European keyboard. (http://www.starr.net/is/type/kbh.html)
Several methods are shown for the Euro and other special characters.
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