Symbol Rates Each currency is assigned a three letter code

2. Symbol Rates Each currency is assigned a three letter code

.For example, the code of the U.S. dollar - USD (United States Dollar), the code EUR - EUR (EURo), the Swiss franc - CHF (Confederation Helvetica Franc), Japanese yen - JPY (JaPanese Yen), the British pound - GBP (Great British Pound). Currency codes are determined by the standard ISO-4217 . As a rule, they are formed from the two-letter ISO-3166 country code and the first letter of the currency. The exceptions are few, in particular, the European currency euro, which is denoted as EUR, and the ruble, denoted RUB, rather than RUR, would be expected to.

Currency rates are the ratio of currency units of different countries against each other. Rates are represented by 6-letter words consisting of two three-letter codes of currencies. In the first place, as a rule, the code of a more expensive currency. The rates are expressed in units of the second currency per unit of the first. For example, rates USDCHF (USD-CHF) show the number of Swiss francs per U.S. dollar, and quotes GBPUSD (GBP-USD), on the contrary, show how many dollars should pay for a British pound. More information about codes financial instruments may be found in the appropriate table .