What does ISO stand for currency?

What does ISO stand for currency?

These codes are identified by the International Organization for Standardization (ISO), a nongovernmental organization that provides standards for manufacturing, commerce, technology, and communication. For currencies, the governing document is called ISO 4217:2015.

What is the currency code for South Africa?

South African rand
South Africa/Currencies
What Is the South African Rand (ZAR)? The South African rand (ZAR) is the national currency of the country of South Africa, with the symbol ZAR being the currency abbreviation for the rand in foreign exchange (forex) markets.

What is ISO territory?

ISO 3166-1 (Codes for the representation of names of countries and their subdivisions – Part 1: Country codes) is a standard defining codes for the names of countries, dependent territories, and special areas of geographical interest.

Is CNH and CNY the same?

While both the CNY and CNH are types of currencies for the same country, and both worth the same amount of Renminbi—they’re not technically the same currency. Both of these currencies have different exchange rates and are traded at different amounts. It’s all the same Renminbi, whether it’s CNY or CNH.

What is the currency exponent in ISO 4217?

The ISO 4217 standard includes a crude mechanism for expressing the relationship between a major currency unit and its corresponding minor currency unit. This mechanism is called the currency “exponent” and assumes a base of 10. For example, USD (the United States dollar) is equal to 100 of its minor currency unit the ” cent “.

What is the ISO 4217 three-letter code?

The first two letters of the ISO 4217 three-letter code are the same as the code for the country name, and where possible the third letter corresponds to the first letter of the currency name. For example: The US dollar is represented as USD – the US coming from the ISO 3166 country code and the D for dollar.

What are the ISO 4217 codes for bitcoin?

The following is a list of active, unofficial codes that emulate the ISO 4217 format. Used on Bitcoin trading sites, and in official Bitcoin project documentation. The US dollar actually has three codes assigned: USD, USS (same day) and USN (next day).

What is an example of an ISO 4217 mnemonic code?

An example is the assignment of the code EUR to the euro. ISO 4217 amendment 94, which created this code, states “The code element ‘EU’ has been reserved by the ISO 3166 Maintenance Agency for use within ISO 4217 where ‘R’ has been appended to make an acceptable mnemonic code.”.