Currency symbols in Forex.
When trading on the forex market, you won't encounter the usual symbols like euros or dollars. All entries are made using a special code consisting of three Latin letters.
This makes currency purchase and sale transactions as universal and understandable as possible for any trader, regardless of their country of residence or language.
Below you'll find the symbols for the major global currencies most frequently traded and forming currency pairs.
USD US dollar
JPY Japanese yen
GBP (STG) British pound sterling
CHF (SFR) Swiss franc
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 mark
RUR Russian ruble.
The letter code essentially encodes the name of the global currency it represents. For example, the British pound is designated as GBP, but stands for Great Britain Pounds. It's as simple as that.
Abbreviations can significantly speed up the process of recording quotes and make them understandable regardless of the language spoken by the trader or financial institution employee.
