The representation of currencies in the forex.
That allows you to write operations on the purchase or sale of foreign currency as possible universal and understandable for any trader, regardless of country of residence and language.
Below you will find the designation of major world currencies that are most frequently involved in exchange operations and form a currency pair.
JPY Japanese Yen
GBP (STG) British pound sterling
CHF (SFR) CHF
NLG (DFL) Dutch Guilder
AUD Australian Dollar
NZD New Zealand Dollar
MXN Mexican Peso
CAD Canadian Dollar
SGD Singapore Dollar
HKD Hong Kong Dollar
KRW South Korean won
ZAR South African rand
SEK Swedish Krona
NOK Norwegian Krone
DKK Danish Krone
FIM Finnish markka
RUR Russian Ruble
In fact, the letter code is encrypted name of world currency which it designates, such as the British pound is referred to as GBP, and stands for Great Britain Pounds, all as simple as possible.
Abbreviations can significantly speed up the process of recording the quotations, and make it clear regardless of the language which is owned by the trader or employee of a financial institution.
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