image showing the flags of different countries

Countries and Their Currencies

If you have ever wondered what currency some three-letter code stood for while going through the market watch on your trading terminal, then you are in the right place. In this post, I will be examining all the significant currencies traded on the spot forex market, their countries, and their codes.

The forex market is one in which the currencies of countries are traded. In the forex market, currencies are grouped in pairs to be traded. As such the price or quote of the pair is a value that states the value of a currency in relation to another.

For example, if the price of the pair EURUSD is 1.0829, then this simply means that 1 EUR is worth 1.0829 USD or 1.0829 USD is needed to buy 1 EUR.

You might have noticed that the currencies were not expressly named, rather they were represented by three letters. This code is called the ISO 4217 currency code. The first two letters of the code represent the country, while the last letter represents the name of the currency. Taking currencies from our previous example, USD stands for United States Dollar. EUR is just short for Euro. This is because multiple countries use the Euro.

different currency notes

Fun fact: The currency letter code SOS exists. It stands for the Somali Shilling.

Countries, their Currencies and Code

The table below contains the countries, currencies, and codes for the most traded currencies in forex.

1United States of AmericaUnited States DollarUSD
3JapanJapanese YenJPY
4United KingdomPound SterlingGBP
5AustraliaAustralian DollarAUD
6CanadaCanadian DollarCAD
7SwitzerlandSwiss FrancCHF
8ChinaRenminbi/ Chinese YuanCNY
9Hong KongHong Kong DollarHKD
10New ZealandNew Zealand DollarNZD
11SwedenSwedish KronaSEK
12South KoreaSouth Korean WonKRW
13SingaporeSingapore DollarSGD
14NorwayNorwegian KroneNOK
15MexicoMexican PesoMXN
16IndiaIndian RupeeINR
17RussiaRussian RubleRUB
18South AfricaSouth African RandZAR
19TurkeyTurkish LiraTRY
20BrazilBrazilian RealBRL
21TaiwanNew Taiwan DollarTWD
22DenmarkDanish KroneDKK
23PolandPolish ZlotyPLN
24ThailandThailand BahtTHB
25IndonesiaIndonesian RupiahIDR
26HungaryHungarian ForintHUF
27CzechCzech KorunaCZK
28IsraelIsraeli New ShekelILS
29ChileChilean PesoCLP
30PhilippinesPhilippine PesoPHP

You can view more countries, their currencies, and their codes here.

Now you know the codes of the most traded currencies in the world. You can now go back to your terminal confidently, and trade like a boss.

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