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Recommendation 9

ALPHABETICAL CODE FOR THE REPRESENTATION OF

The UN/ECE Working Party on Facilitation of Interna- (a) accept and use the three-letter alphabetic codes of tional Trade Procedures agreed in 1970 to include in its International Standard ISO 4217, “Codes for the programme of work the development of a code for repre- representation of currencies and funds”, for applica- senting currencies to be recommended for use in docu- tion in international trade; and ments and messages relevant to international trade trans- actions. Technical Committee 68, “Banking Proce- (b) encourage their use in commercial transactions when dures”, of the International Organization for Standardi- currencies are expressed in coded or abbreviated zation (ISO) decided in 1973 to develop a code for the form. representation of currencies and funds for use in any The Working Party invited Governments to report to it on application of trade, commerce or banking. action taken to give effect to the Recommendation.

In accordance with the Recommendation of Government The Working Party also requested the Executive Secre- Officials Responsible for Policies that tary of the Economic Commission for Europe to send the ECE Governments shall encourage the harmonization of Recommendation to the Executive Secretaries of the national standards on the basis of international standards other regional economic commissions and, whenever possible, utilize such standards in national and to request them to bring it to the attention of Govern- technical regulations, it was agreed between the UN/ECE ments in their respective regions. Working Party and ISO/TC 68 to co-ordinate work on the code and to issue an ECE Recommendation at the same At that session representatives attended from: ; time as a corresponding ISO standard. ; ; ; Czechoslovakia; ; ; German Democratic Republic; , Fed- The Code was developed in Sub-Committee 2, “ eral Republic of; ; ; ; Po- Operations”, established by ISO/TC 68. The work was land; ; ; ; ; Union of followed in detail by the UN/ECE Group of Experts on Soviet Socialist Republics; of Great Automatic Data Processing and Coding which discussed Britain and ; of America. the matter at several sessions. After each discussion by ; ; and . the Group of Experts, its views were made known to TC 68/SC 2, and vice versa. There was also mutual represen- The following specialized agency and intergovernmental tation at some meetings. At its seventeenth session and non-governmental organizations were also (February 1978) the Group of Experts agreed that the represented: Inter-governmental Maritime Consultative three-letter alphabetic codes for International Standard Organization (IMCO); General Agreement on Tariffs ISO 4217, “Codes for the representation of currencies and and Trade (GATT); European Economic Community funds”, would be suitable for use in international trade, (EEC); Customs Co-operation Council (CCC); Central and presented the Recommendation set out below to the Office for International Railway Transport (OCTI); Working Party on Facilitation of International Trade International Chamber of Commerce (ICC); International Procedures. Air Transport Association (IATA); International Organization for Standardization (ISO); International Union of Railways (UIC); International Chamber of RECOMMENDATION Shipping (ICS); and International Federation of Freight The Working Party on Facilitation of International Trade Forwarders Associations (FIATA). Procedures, at its seventh session in February 1978, agreed to recommend that Governments members of the I. BACKGROUND Economic Commission for Europe and international organizations concerned, as well as other participants in 1. The name of a is a data element frequently international trade, should: used in documents and telecommunication messages exchanged between parties in international trade transac- tions. Correct transmission and reception of this data Recommendation No. 9 , second edition,adopted by the Working Party on Facilitation of International Trade Procedures, Geneva, January element is of vital importance, and each element (cur- 1996, ECE/TRADE/203 [Edition 96.1]. rency) must be identified uniquely. It is recalled that the

Recommendation 9 49 Alphabetic Code for the Representation of Currencies name of a currency is sometimes the same in different IV. CODE STRUCTURE countries and that the name of the issuing country should be indicated to ensure uniqueness (Canadian ; 7. The first (leftmost) two characters of a currency code ). It is also recalled that the data element provide a code unique to a currency authority; where is shown repeatedly in a number of documents and that practicable, they are linked to the geographical location of that currency authority and correspond to the ALPHA- different currencies might be indicated for different stages 2 codes of ISO 3166. Where the currency is not associated of the transaction – for example, for the payment of with a single geographical entity as described in ISO transport charges, Customs duties and other costs. 3166, a specially-allocated ALPHA-2 code has been 2. The length of the data element and the frequency of reserved and should be used to describe the currency its appearance make a coded representation desirable. authority. With the rapid expansion of information interchange on 8. In applications where monetary resources associated an international basis, the need for a universally-applica- with a currency (i.e. funds) need not be specified and ble code for the identification of currencies has become where a field identifier indicating currency is used, the increasingly urgent. first two (leftmost) characters are sufficient to identify a currency–example: US for United States for ge- 3. No worldwide standard currency code existed before neral, unspecified purposes where a field identifier indi- agreement was reached in the UN/ECE and ISO, and cating currency is present. (A field identifier can be a pre- between the two organizations, to develop a code to be printed field heading in an aligned document or a simi- included both in an intergovernmental Recommendation larly-agreed application in electronic transmission of and in an International Standard as described in the data.) Preamble to the present Recommendation. 9. In applications where there is a need to distinguish 4. It is recommended that participants in international between different types of currencies, or where funds are trade transactions without an existing currency code give required as in the banking environment, or where there is early implementation to the new internationally-agreed no field identifier, the third (rightmost) character of the standard currency and funds code. Participants with an alphabetic code is an indicator, preferably mnemonic, existing code may find it advantageous the adopt the derived from the name of the major currency unit or fund International Standard as a replacement of their in-house – example: USD for general, unspecified purposes; USN standards. for next-day funds, and USS for funds which are immediately available for II. SCOPE AND FIELD OF transfer, withdrawal in cash or transfer in like funds (same-day funds). Since there is no need for such a APPLICATION distinction in international trade applications, the funds codes have not been included in the Annex to the present 5. International Standard ISO 4217 described its scope Recommendation. as the establishment of “a three-letter alphabetic code and an equivalent three-digit numeric code for the represen- tation of currencies and funds” (see paragraph 10 below). V. NUMERIC CODE The Standard is intended for use in any application of 10. The three-digit numeric code of ISO 4217 was dis- trade, banking or administration where names of curren- cussed by the Group of Experts, and the need for a cies or funds are required to be represented in a coded numeric variety was recognized. It was, however, noted form. The code is designed to be equally suitable for that the discussion in the UN/ECE concerning numeric automated or manual applications. codes for the representation of names of countries had not yet been concluded and that this question should not be allowed to delay the Recommendation of the use of the III. PRINCIPLES FOR INCLUSION IN alphabetic codes for currencies. THE CURRENCY LIST

6. The currencies appearing in the Annex to this Rec- VI. PROVISIONS FOR UPDATING ommendation are those used within the entities described 11. The list of countries and their code elements are in the Recommendation No. 3 of the Working Party on subject to amendment, according to the rules set out in Facilitation of International Trade Procedures, “ISO International Standards ISO 3166 and ISO 4217. A Country Code – Codes for the representation of names of Maintenance Agency for ISO 4217 has been appointed, countries”, a Recommendation dated October 1974 to use serviced by the Secretariat of ISO/TC 68/SC 2, the British International Standard ISO 3166, “Codes for the repre- Standards Institution. As required, the ECE Secretariat sentation of names of countries”, for application in inter- will provide code supplements containing the current national trade. Currencies and entities listed are intended version of the Alpha-2 code. The list below reflects the to reflect current status known at the time of publication. version valid on 1 January 1996.

50 Recommendation 9 Alphabetic Code for the Representation of Currencies

ISO 2- Letter Alphabetic Country Code (ISO 3166-1993) ISO 3-Letter Currency Code (ISO 4217-1990)

The full text of ISO 3166, with the official names of the countries concerned are included in the Standard, which can be procured from the ISO Central Secretariat or from national ISO member bodies.

The three columns in the following list represent: 1. Name of country 2. Alpha - 2 Country code 3. Alpha - 3 Currency code(s)

AFGHANISTAN AF AFA CX AUD AL ALL COCOS (KEELING) ISLANDS CC AUD DZ DZD CO COP AMERICAN AS USD/ESP KM KMF AD FRF/ADP CONGO CG XAF AO AOR CK NZD AI XCD CR CRC AQ COTE D’IVOIRE CI XOF AG XCD HR HRD AR ARS CU CUP AM AMD CY CYP AW AWG CZ CZK AUSTRALIA AU AUD AUSTRIA AT ATS DK DKK AZ AZM DJ DJF DM XCD BAHAMAS BS BSD DO DOP BH BHD BD BDT a TP TPE/IDR BB BBD EC ECS/ECV BY BYB EG EGP BELGIUM BE BEF SV SVC BZ BZD EQUATORIAL GQ XAF BJ XOF ER BM BMD EE EEK BT INR/BTN ET ETB BO BOB/BOV EUROPEAN MONETARY BA COOPERATION FUND (EMCF) XEU BW BWP BV NOK (MALVINAS) FK FKP BR BRL FO DKK BRITISH INDIAN OCEAN FJ FJD TERRITORY IO USD FINLAND FI FIM DARUSSALAM BN BND FRANCE FR FRF BULGARIA BG BGL FRANCE, METROPOLITAIN FX FRF BF XOF GF FRF BI BIF PF XPF FRENCH SOUTHERN KH KHR TERRITORIES TF FRF CM XAF CANADA CA CAD GA XAF CV CVE GAMBIA GM GMD KY KYD GE GEL CF XAF GERMANY DE DEM TD XAF GH GHC CL CLP/CLF GI GIP CN CNY GR GRD

Recommendation 9 51 Alphabetic Code for the Representation of Currencies

GREENLAND GL DKK YT FRF GD XCD MX MXN GP FRF MICRONESIA (FEDERATED GU USD STATES OF) FM USD GT GTQ , REPUBLIC OF MD MDL GUINEA GN GNF MC FRF GUINEA-BISSAU GW GWP MN MNT GY GYD MS XCD MA MAD HT HTG/USD MZ MZM HEARD ISLAND AND MCDONALD MM MMK ISLANDS HM AUD HN HNL NA ZAR/NAD HK HKD NR AUD HUNGARY HU HUF NP NPR NETHERLANDS NL NLG IS ISK NETHERLANDS ANTILLES AN ANG IN INR NC XPF ID IDR NZ NZD INTERNATIONAL MONETARY NI NIO FUND (IMF) XDR NE XOF (ISLAMIC REPUBLIC OF) IR IRR NIGERIA NG NGN IQ IQD NU NZD IRELAND IE IEP NF AUD IL ILS MP USD IT ITL NORWAY NO NOK

JAMAICA JM JMD OM OMR JAPAN JP JPY JO JOD PK PKR PW USD KAMPUCHEA, see PA PAB/USD CAMBODIA PG PGK KZ KZT PY PYG KE KES PE PEN KI AUD , DEMOCRATIC PH PHP PITCAIRN PN NZD PEOPLE’S REPUBLIC OF KP KPW KOREA, REPUBLIC OF KR KRW PL PLN/PLZ KW KWD PT PTE KG KGS PR USD LAO PEOPLE’S DEMOCRATIC REPUBLIC LA LAK QA QAR LV LVL LB LBP REUNION RE FRF LS ZAR/ZAL ROMANIA RO ROL LSL RUSSIAN FEDERATION RU RUR LR LRD RW RWF LIBYAN ARAB JAMAHIRIYA LY LYD LI CHF SH SHP LT LTL SAINT KITTS AND KN XCD LU LUF LC XCD SAINT PIERRE AND MIQUELON PM FRF MO MOP SAINT VINCENT AND THE MG MGF GRENADINES VC XCD MW MWK SAMOA WS WST MY MYR SM ITL MV MVR SAO TOME AND PRINCIPE ST STD ML XOF SA SAR MT MTL SN XOF MH USD SC SCR MQ FRF SL SLL MR MRO SG SGD MU MUR SK SKK

52 Recommendation 9 Alphabetic Code for the Representation of Currencies

SLOVENIA SI SIT TC USD SB SBD TV AUD SO SOS UG UGX ZA ZAR UA UAK SOUTH GEORGIA AND AE AED THE SOUTH SANDWICH ISLANDS GS UNITED KINGDOM GB GBP ES ESP UNITED STATES US USD/USS LK LKR USN SD SDP/SDD UNITED STATES MINOR SR SRG OUTLYING ISLANDS UM USD AND SJ NOK UY UYU SWAZILAND SZ SZL UZ UZS SWEDEN SE SEK SWITZERLAND CH CHF VU VUV SYRIAN ARAB REPUBLIC SY SYP STATE (HOLY SEE) VA ITL , PROVINCE OF CHINA TW TWD VE VEB TJ TJR VIET NAM VN VND , UNITED VIRGIN ISLANDS (BRITISH) VG USD REPUBLIC OF TZ TZS VIRGIN ISLANDS (U.S.) VI USD TH THB THE FORMER YUGOSLAV ISLANDS WF XPF REPUBLIC OF MEACEDONIA MK MKD EH MAD a TG XOF TK NZD YE YER TO TOP YU YUM TT TTD TN TND ZR ZRN TURKEY TR TRL ZM ZMK TM TMM ZW ZWD a The currency code is under consideration by the ISO 4217 Maintenance Agency.

Recommendation 9 53 54