2. Currency Notation
There is a three-letter code assigned to each currency. E.g. US Dollar code — USD (United States Dollar), Euro code — EUR (EURo), Swiss Frank — CHF (Confederation Helvetica Franc), Japanese Yen — JPY (JaPanese Yen), UK Pound — GBP (Great British Pound). The currency codes are defined by the ISO-4217 standard. Usually they are defined from two-letter ISO-3166 country code and first letter of the currency. There are not many exceptions, particularly, European currency euro represented by EUR, and ruble represented by RUB, and not RUR, as could be expected.
Exchange rates reflect the relation of currencies of different countries to each other. Exchange rate codes are represented in 6-letter words made of two 3-letter currency code. First, usually, goes the code of the more expensive currency. The quotes are denominated in the units of the second currency for the unit of the first currency. For example, USDCHF (USD–CHF) reflects the amount of Swiss franks for one US Dollar, and GBPUSD (GBP–USD), on the contrary, how many US Dollars you need to pay for one British Pound. For more details of financial toll codes, see the specific table
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