Overview
ISO 4217 is the International Standard that defines alpha codes and numeric codes for the representation of currencies. It establishes internationally recognized codes for the representation of currencies and funds.
The standard is essential for:
- International banking and wire transfers
- Foreign exchange (forex) trading
- Financial software and systems
- E-commerce and online payments
- Accounting and financial reporting
- International trade documentation
Code Structure
ISO 4217 codes consist of both alphabetic and numeric representations:
Alphabetic Codes (Alpha-3)
Three-letter codes following specific patterns:
- National currencies: First two letters = country code (USD, EUR, GBP)
- Supranational currencies: X + two letters (XAU for gold, XDR for SDR)
- Format: Three uppercase letters
- Most common: Used in trading, banking, software
Numeric Codes
Three-digit numbers for each currency:
- Format: Three digits (e.g., 840 for USD, 978 for EUR)
- Usage: Systems where Latin alphabet unavailable
- Benefits: Language-independent representation
- Applications: Banking systems, international messaging
Minor Units
Number of decimal places for each currency:
- Most currencies: 2 decimal places (USD 1.00, EUR 1.00)
- Some currencies: 0 decimal places (JPY 100, KRW 1000)
- Few currencies: 3 decimal places (BHD 1.000, KWD 1.000)
- Special case: 4 decimal places (CLF Chilean Unidad de Fomento)
Types of Currencies
National Currencies
Currencies issued by sovereign states and monetary authorities:
| Currency | Code | Number | Countries |
|---|---|---|---|
| US Dollar | USD | 840 | United States, Ecuador, El Salvador |
| Euro | EUR | 978 | 19 EU countries |
| British Pound | GBP | 826 | United Kingdom |
| Japanese Yen | JPY | 392 | Japan |
Precious Metals
Codes for precious metals used in trading:
- XAU: Gold (from Latin "aurum")
- XAG: Silver (from Latin "argentum")
- XPT: Platinum
- XPD: Palladium
Supranational Currencies
Currencies not tied to a specific country:
- XDR: Special Drawing Rights (IMF)
- XUA: ADB Unit of Account (African Development Bank)
- XXX: No currency (used for transactions without currency)
Common Usage
💳 Banking & Finance
- SWIFT international transfers
- Bank account currencies
- Credit card transactions
- ATM currency codes
📈 Trading & Markets
- Forex trading pairs (EUR/USD)
- Financial data feeds
- Stock market systems
- Commodity trading
🛒 E-commerce
- Online store pricing
- Payment gateway systems
- Multi-currency support
- Currency conversion tools
💻 Software Systems
- ERP and accounting software
- Financial APIs
- Database currency fields
- Mobile payment apps
Currency Examples
Major World Currencies
| Currency Name | Code | Number | Symbol | Minor Units | Countries/Territories |
|---|---|---|---|---|---|
| US Dollar | USD | 840 | $ | 2 | United States, Ecuador, El Salvador |
| Euro | EUR | 978 | € | 2 | Eurozone (19 countries) |
| British Pound Sterling | GBP | 826 | £ | 2 | United Kingdom |
| Japanese Yen | JPY | 392 | ¥ | 0 | Japan |
| Chinese Yuan | CNY | 156 | ¥ | 2 | China |
| Swiss Franc | CHF | 756 | Fr | 2 | Switzerland, Liechtenstein |
| Canadian Dollar | CAD | 124 | $ | 2 | Canada |
| Australian Dollar | AUD | 036 | $ | 2 | Australia |
Cryptocurrencies and Digital Assets
While not part of ISO 4217, common cryptocurrency codes:
| Cryptocurrency | Common Code | Symbol | Note |
|---|---|---|---|
| Bitcoin | BTC | ₿ | Not ISO 4217 compliant |
| Ethereum | ETH | Ξ | Not ISO 4217 compliant |
| Litecoin | LTC | Ł | Not ISO 4217 compliant |
Special Codes
Testing and Development
Special codes reserved for testing purposes:
- XTS: Reserved for testing purposes
- XXX: No currency (transactions without currency)
Historical Currencies
Some codes for historical or discontinued currencies:
| Currency | Code | Period | Replaced By |
|---|---|---|---|
| German Deutsche Mark | DEM | 1948-2002 | EUR |
| French Franc | FRF | 1960-2002 | EUR |
| Italian Lira | ITL | 1946-2002 | EUR |
| Venezuelan Bolívar Fuerte | VEF | 2008-2018 | VES |
History
ISO 4217 has evolved significantly since its inception:
- 1978: First edition published
- 1981: Addition of numeric codes
- 1990s: Expansion for emerging economies
- 1999: Euro introduction (EUR replaced 12 national currencies)
- 2001: Enhanced maintenance procedures
- 2008: Financial crisis led to increased scrutiny
- 2015: Current edition with comprehensive coverage
Maintenance
The ISO 4217 Maintenance Agency (MA) is responsible for maintaining the currency codes list. The MA is currently operated by SIX Interbank Clearing on behalf of ISO.
Change Process
- Central banks and monetary authorities can request changes
- New currencies require formal documentation
- Changes are published in Currency Code List updates
- Discontinued currencies are marked as obsolete
Recent Changes
- 2024: Updates to several African currencies
- 2023: New Pacific Island territory currencies
- 2022: Cryptocurrency discussion (not adopted)
- 2021: Venezuelan Bolívar Soberano (VES) updates