A Comprehensive Guide to ISO Currency Codes

What are ISO Currency Codes?

ISO currency codes, commonly used synonymously as country codes, are unique alphanumeric codes assigned to each currency used in international transactions. These codes were established by the International Organisation for Standardisation (ISO) to improve the accuracy and efficiency of global payments.

It looks a little like this: USD, GBP, EUR

Each country code is made up of three letters — the first two letters represent the country and the third represents the currency. Taking USD for instance, the initial letters “US” constitutes the country, while the “D” indicates its local currency, the dollar.

This structure helps banks and financial institutions from different countries standardise their messaging and avoid confusion or errors. It’s also especially important in the global economy today where trillions of dollars are transacted globally on a daily basis.

What is the ISO 4217 standard?

ISO 4217 is an official document that contains all the ISO currency codes. Like a single source of truth for ISO codes. This standard, which was first established in 1978, ensures that each currency has a unique three-letter currency symbol, accompanied by a three-digit numeric code.

To illustrate, USD has an equivalent numeric code of 840. This numeric code is not intended for general use, so it’s unlikely to come across in a day-to-day transaction. Instead, according to ISO 4217:2015, it is used in applications of trade, commerce, and banking, where the funds are required to be described.

On top of these, there is also ISO 3166, which governs the country codes and agreed alphanumeric codes for each currency used in international trading.

Here’s the full list of ISO 4217 currency codes:

In addition to the standard codes for major currencies, ISO 4217 also includes codes for precious metals, such as gold, silver, and platinum, as well as codes for currencies used in intergovernmental organisations such as the Special Drawing Rights (SDR) used by the International Monetary Fund (IMF).

Here’s the list of non-national ISO 4217 codes:

Special Considerations for Geo Country Codes

Even though the typical code consists of three letters, certain countries or territories may have multiple codes due to political factors. For instance, the United Kingdom has separate codes for England, Scotland, Wales, and Northern Ireland.

Additionally, certain codes may not constitute independent countries, such as the Channel Islands and the Isle of Man.

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