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The official ISO 4217 standard specifies three-letter (“Alpha-3”) codes for currencies worldwide. The first two letters of these codes are usually identical with the two-letter ISO 3166-1 Alpha-2 country codes, which are well-known by internet users, as they are used for country domain suffixes.
ISO currency codes are the three-letter alphabetic codes that represent the various currencies used throughout the world.
Currency codes. People around the world rely on almost 300 different currencies to do business with each other, which is why it pays to use ISO 4217. This standard establishes internationally recognized codes for the representation of currencies that enable clarity and reduce errors.
Currency numbers For example, USD (United States dollar) has code 840 which is also the numeric code for the US (United States).
The formula for calculating exchange rates is: Starting Amount (Original Currency) / Ending Amount (New Currency) = Exchange Rate. For example, if you exchange 100 U.S. Dollars for 80 Euros, the exchange rate would be 1.25.
There are two ways to express an exchange rate between two currencies (e.g., between the U.S. dollar [$] and the British pound [£]). One can either write $/A or A/$. These are reciprocals of each other. Thus, if E is the $/A exchange rate and V is the A/$ exchange rate, then E = 1/V.
There are two ways to express an exchange rate between two currencies (e.g., between the U.S. dollar [$] and the British pound [£]). One can either write $/A or A/$. These are reciprocals of each other. Thus, if E is the $/A exchange rate and V is the A/$ exchange rate, then E = 1/V.
The short answer is you don't lose money when you exchange currencies. If you did, there would be a way to make money. For example, in January 2016, 1C$=HK$5.37 which means for every Canadian loonie you hold, you would get 5.37 Hong Kong dollars.
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