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May 19, 2016

Question:What is 'ISO' (International Standards Organization) of Forex Markets?

Answer:

Currency pairs are named by combining the 3-letter ISO codes of two currencies.

Currency Pairs: This is the term used to express one currency against another.

The price of a currency pair always expresses the amount of the 2nd named currency needed to exchange against one unit of the first named currency.

Example: USDSAR = 3.7500 means 3.75 SAR can be exchanged to 1 USD

Here are the ISO codes which are used internationally.

  • AED United Arab Emirates Dirham
  • SAR Saudi Riyal
  • AUD Australian Dollar
  • SEK Swedish Krona
  • CAD Canadian Dollar
  • SGD Singapore Dollar
  • CHF Swiss Franc
  • USD US Dollar
  • DKK Danish Krone
  • THB Thai Baht
  • EUR European Euro
  • TRY Turkish Lira
  • GBP British Pound
  • XAG Silver
  • JPY Japanese YEN
  • XAU Gold
  • NOK Norwegian Kroner
  • XPT Platinum
  • NZD New Zealand Dollar
  • ZAR South African Rand

On trading platforms such MT4, MT5 and cTrader4, all financial instruments are displayed with ISOs or specific abbreviations.

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