World Currency Converter is a multi-lingual foreign exchange rate calculator for global businesses and world travelers.

Features:

• 168 currencies
• Updated every hour
• Historic data since 1999
• Mobile friendly

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Spot exchange rates are sourced from a broad base of commercial and bank sources worldwide and are precise to within four decimal places.

The World Currency Converter app is available for your website or blog at a very reasonable monthly cost. It can also be branded with your firm’s name, logo, and tagline.

Contact us for more information.

World Trade Press
616 East Eighth Street, Suite 7
Traverse City, Michigan 49686
Tel: +1 (707) 774-7404
sales@worldtradepress.com

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Forex Glossary

arbitrage
Simultaneous buying and selling of securities, commodities, or currencies in different markets to take advantage of price differences.

ask (offer) price
The price at which a market is willing to sell.

banknote rate
The rate used for foreign exchange transactions involving physical banknotes. This rate takes into account the added costs of transport and insurance.

base currency
The first named currency in a currency pair.

bears
Traders who expect prices to decline.

bulls
Traders who expect prices to rise.

bid price
The price at which a market is willing to purchase.

call money
Money loaned by a financial institution on a very short-term basis which can be called the same day or at one or two days’ notice.

call option
An option to sell a commodity or asset (currency) at an agreed-upon price on or before a particular date.

counter currency
The second named currency in a currency pair.

central bank
The national bank of a sovereign state that provides financial and banking services to its government and commercial banking system, implements monetary policy, and issues currency.

contra currency
In a forex trade, the currency for which the dealt currency is traded. For example, in a USD/CHF trade the US dollar is the dealt currency and the CHF (Swiss Franc) is the contra currency.

convertibility
The ease with which a currency can be freely exchanged or converted into another currency.

credit card rate
The foreign exchange rate offered by a credit card company for transactions in a foreign currency using their credit card. Credit card rates vary by issuer of the credit card, but are typically a premium of 2−5% above the Spot Exchange Rate.

cross rate
An exchange rate between two currencies expressed in reference to a third currency, typically the US dollar.

currency
The system of money in general use in a country or currency zone. Examples include the US dollar, Swiss franc, and European Euro.

currency pair
Two currencies that constitute a foreign exchange rate: the base currency and the counter currency. For example: USD/EUR.

dealt currency
In a forex trade, the currency that specifies the unit of the trade. For example, in a USD/CHF trade of 1,000,000 USD, the US dollar is the dealt currency and the CHF (Swiss Franc) is the contra currency.

devaluation
The reduction of the external value of a currency based upon changes in monetary policy or the current economic or political environment.

exchange control
Governmental control of the movement of its currency with foreign entities.

exchange rate
The value of one currency expressed in another currency.

external value
The purchasing power of a domestic currency in another country.

fixed exchange
An administratively fixed exchange rate not based upon market conditions.

floating exchange rate
An exchange rate determined by market forces without central bank intervention.

foreign exchange
The simultaneous selling of one currency and buying of another. Also known as forex or fx.

forex
Foreign exchange.

forward contract
A privately negotiated financial contract to buy and sell a set quantity of a commodity (currency), at a future date, for a specified price.

forward discount
A situation where the spot futures exchange rate of a currency is trading at a lower rate than the current spot exchange rate.

forward premium
A situation where the spot futures exchange rate of a currency is trading at a higher rate than the current spot exchange rate.

futures contract
A highly standardized financial contract traded on an exchange (bourse) to buy and sell a set quantity of a commodity (currency), at a future date, for a specified price.

fx
Foreign exchange.

going long
The purchase of a commodity (currency) with expectation that its value will increase.

going short
The sale of a commodity (currency) with the expectation that its value will decrease.

hard currency
A globally traded currency that has a sustained history of purchasing power tied to the issuing country’s stable economic and political condition and the policies of its central bank. Examples include the US dollar, Euro, Swiss franc, and British pound sterling.

hedge
The strategic use of financial instruments (such as futures contracts, forward contracts, swaps, or options) to offset potential losses or gains in an underlying investment.

inflation
Loss of purchasing power of money, caused by the unrestrained growth of the amount of money in circulation.

interbank rate
The rate of interest charged on short-term (usually one- to three-day) loans between banks.

intervention
The purchase or sale of domestic or foreign currency by a government authority (usually its central bank) in order to manipulate the exchange rate away from market equilibrium.

key currency
A major currency in the global economy used to set the exchange rate in a forex transaction.

LIBID
London Interbank Bid Rate. A benchmark interest rate that major global banks are prepared to pay for Eurocurrency deposits in the London interbank market.

LIBOR
London Interbank Offered Rate. A benchmark interest rate that major global banks charge each other in the London interbank market for short-term loans of one day to 12 months.

LIMEAN
London Interbank Mean Rate. The calculated average of the London Interbank Bid Rate (LIBID) and the London Interbank Offered Rate (LIBOR).

margin
Cash or other collateral deposited with a commodities or securities broker as security.

option
A financial contract giving the buyer the right (but not the obligation) to purchase a set quantity of a commodity (currency) at a future date, for a specified price.

put option
An option to sell a commodity or asset (currency) at an agreed-upon price on or before a particular date.

realignment
The simultaneous revaluation and devaluation of the currencies of two or more countries.

revaluation
The increase of the external value of a currency based upon changes in monetary policy or the current economic or political environment.

risk position
An asset or liability which is exposed to fluctuations in value through changes in exchange rates, interest rates, or market conditions.

spot/next
A foreign exchange transaction valued at the current spot rate, but with delivery on the next day.

spot operations
A foreign exchange transaction in which settlement of delivery and payment is made immediately.

spot rate
The transaction rate quoted for immediate settlement.

strike price
The price at which a put or call option can be exercised.

swap transaction
An agreement between two parties to exchange a specified amount of two currencies at a certain time in the future at a specified exchange rate.

tom/next
A foreign exchange transaction where a current position is closed out at the daily close rate, but reentered at the new opening rate the next day, thereby avoiding the necessity of taking delivery of the currency until the next day.

transaction fee
A flat fee charged by a bank, currency exchange dealer, or credit card company on an individual currency exchange transaction.

volatility
A statistical measure of the amount by which a currency’s value changes based upon its mean value.

writer
The party that writes a forex option (option seller) and receives a premium from the buyer.

Currency Codes

Country	Currency	Code
Afghanistan	Afghanis	AFN
Albania	Leke	ALL
Algeria	Dinars	DZD
America (United States of America)	Dollars	USD
American Samoa	United States Dollars	USD
American Virgin Islands	United States Dollars	USD
Andorra	Euro	EUR
Angola	Kwanza	AOA
Anguilla	East Caribbean Dollars	XCD
Antigua and Barbuda	East Caribbean Dollars	XCD
Argentina	Pesos	ARS
Armenia	Drams	AMD
Aruba	Guilders (also called Florins)	AWG
Australia	Dollars	AUD
Austria	Euro	EUR
Azerbaijan	New Manats	AZN
Azores	Euro	EUR
Bahamas	Dollars	BSD
Bahrain	Dinars	BHD
Baleares (Balearic Islands)	Euro	EUR
Bangladesh	Taka	BDT
Barbados	Dollars	BBD
Barbuda and Antigua	East Caribbean Dollars	XCD
Belarus	Rubles	BYR
Belgium	Euro	EUR
Belize	Dollars	BZD
Benin	Communauté Financière Africaine Francs (BCEAO)	XOF
Bermuda	Dollars	BMD
Bhutan	Ngultrum	BTN
Bhutan	India Rupees	INR
Bolivia	Bolivianos	BOB
Bonaire	Netherlands Antilles Guilders (also called Florins)	ANG
Bosnia and Herzegovina	Convertible Marka	BAM
Botswana	Pulas	BWP
Bouvet Island	Norway Kroner	NOK
Brazil	Real	BRL
Britain (United Kingdom)	Pounds	GBP
British Indian Ocean Territory	United States Dollars	USD
British Virgin Islands	United States Dollars	USD
Brunei Darussalam	Dollars	BND
Bulgaria	Leva	BGN
Burkina Faso	Communauté Financière Africaine Francs (BCEAO)	XOF
Burma (Myanmar)	Kyats	MMK
Burundi	Francs	BIF
Côte D'Ivoire	Communauté Financière Africaine Francs (BCEAO)	XOF
Caicos and Turks Islands	United States Dollars	USD
Cambodia	Riels	KHR
Cameroon	Communauté Financière Africaine Francs (BEAC)	XAF
Canada	Dollars	CAD
Canary Islands	Euro	EUR
Cape Verde	Escudos	CVE
Cayman Islands	Dollars	KYD
Central African Republic	Communauté Financière Africaine Francs (BEAC)	XAF
Chad	Communauté Financière Africaine Francs (BEAC)	XAF
Chile	Pesos	CLP
China	Yuan Renminbi	CNY
Christmas Island	Australia Dollars	AUD
Cocos (Keeling) Islands	Australia Dollars	AUD
Colombia	Pesos	COP
Communauté Financière Africaine (CFA)	Francs	XAF
Comoros	Francs	KMF
Comptoirs Français du Pacifique (CFP)	Francs	XPF
Congo/Brazzaville	Communauté Financière Africaine Francs (BEAC)	XAF
Congo/Kinshasa	Francs	CDF
Cook Islands	New Zealand Dollars	NZD
Costa Rica	Colones	CRC
Croatia	Kuna	HRK
Cuba	Pesos	CUP
Curaço	Netherlands Antilles Guilders (also called Florins)	ANG
Cyprus	Euro	EUR
Czech Republic	Koruny	CZK
Denmark	Kroner	DKK
Djibouti	Francs	DJF
Dominica	East Caribbean Dollars	XCD
Dominican Republic	Pesos	DOP
Dutch (Netherlands)	Euro	EUR
East Timor	Indonesia Rupiahs	IDR
Ecuador	United States Dollars	USD
Egypt	Pounds	EGP
Eire (Ireland)	Euro	EUR
El Salvador	Colones	SVC
El Salvador	United States Dollars	USD
England (United Kingdom)	Pounds	GBP
Equatorial Guinea	Communauté Financière Africaine Francs (BEAC)	XAF
Eritrea	Ethiopia Birr	ETB
Eritrea	Nakfa	ERN
Estonia	Euro	EUR
Ethiopia	Birr	ETB
Euro Member Countries	Euro	EUR
Falkland Islands (Malvinas)	Pounds	FKP
Faroe Islands	Denmark Kroner	DKK
Fiji	Dollars	FJD
Finland	Euro	EUR
France	Euro	EUR
French Guiana	Euro	EUR
French Polynesia (French Pacific Islands)	Comptoirs Français du Pacifique Francs	XPF
French Southern Territories	Euro	EUR
Futuna and Wallis Islands	Comptoirs Français du Pacifique Francs	XPF
Gabon	Communauté Financière Africaine Francs (BEAC)	XAF
Gambia	Dalasi	GMD
Georgia	Lari	GEL
Germany	Euro	EUR
Ghana	Cedis	GHS
Gibraltar	Pounds	GIP
Gold	Ounces	XAU
Great Britain (United Kingdom)	Pounds	GBP
Greece	Euro	EUR
Greenland	Denmark Kroner	DKK
Grenada	East Caribbean Dollars	XCD
Grenadines (The) and Saint Vincent	East Caribbean Dollars	XCD
Guadeloupe	Euro	EUR
Guam	United States Dollars	USD
Guatemala	Quetzales	GTQ
Guernsey	Pounds	GGP
Guinea	Francs	GNF
Guinea-Bissau	Communauté Financière Africaine Francs (BCEAO)	XOF
Guyana	Dollars	GYD
Haiti	Gourdes	HTG
Haiti	United States Dollars	USD
Heard Island and McDonald Islands	Australia Dollars	AUD
Herzegovina and Bosnia	Convertible Marka	BAM
Holland (Netherlands)	Euro	EUR
Holy See	(Vatican City)	EUR
Honduras	Lempiras	HNL
Hong Kong	Dollars	HKD
Hungary	Forint	HUF
Iceland	Kronur	ISK
India	Rupees	INR
Indonesia	Rupiahs	IDR
Iran	Rials	IRR
Iraq	Dinars	IQD
Ireland (Eire)	Euro	EUR
Isle of Man	Pounds	IMP
Israel	New Shekels	ILS
Italy	Euro	EUR
Jamaica	Dollars	JMD
Jan Mayen and Svalbard	Norway Kroner	NOK
Japan	Yen	JPY
Jersey	Pounds	JEP
Jordan	Dinars	JOD
Kazakhstan	Tenge	KZT
Keeling (Cocos) Islands	Australia Dollars	AUD
Kenya	Shillings	KES
Kiribati	Australia Dollars	AUD
Korea (North)	Won	KPW
Korea (South)	Won	KRW
Kuwait	Dinars	KWD
Kyrgyzstan	Soms	KGS
Laos	Kips	LAK
Latvia	Lati	LVL
Lebanon	Pounds	LBP
Lesotho	Maloti	LSL
Lesotho	South Africa Rand	ZAR
Liberia	Dollars	LRD
Libya	Dinars	LYD
Liechtenstein	Switzerland Francs	CHF
Lithuania	Litai	LTL
Luxembourg	Euro	EUR
Macau	Patacas	MOP
Macedonia	Denars	MKD
Madagascar	Ariary	MGA
Madeira Islands	Euro	EUR
Malawi	Kwachas	MWK
Malaysia	Ringgits	MYR
Maldives (Maldive Islands)	Rufiyaa	MVR
Mali	Communauté Financière Africaine Francs (BCEAO)	XOF
Malta	Euro	EUR
Malvinas (Falkland Islands)	Pounds	FKP
Mariana Islands (Northern)	United States Dollars	USD
Marshall Islands	United States Dollars	USD
Martinique	Euro	EUR
Mauritania	Ouguiyas	MRO
Mauritius	Rupees	MUR
Mayotte	Euro	EUR
McDonald Islands and Heard Island	Australia Dollars	AUD
Mexico	Pesos	MXN
Micronesia (Federated States of)	United States Dollars	USD
Midway Islands	United States Dollars	USD
Miquelon and Saint Pierre	Euro	EUR
Moldova	Lei	MDL
Monaco	Euro	EUR
Mongolia	Tugriks	MNT
Montenegro	Euro	EUR
Montserrat	East Caribbean Dollars	XCD
Morocco	Dirhams	MAD
Mozambique	Meticais	MZN
Myanmar (Burma)	Kyats	MMK
Namibia	Dollars	NAD
Namibia	South Africa Rand	ZAR
Nauru	Australia Dollars	AUD
Nepal	Rupees	NPR
Netherlands Antilles	Guilders (also called Florins)	ANG
Netherlands	Euro	EUR
Nevis and Saint Kitts	East Caribbean Dollars	XCD
New Caledonia	Comptoirs Français du Pacifique Francs	XPF
New Zealand	Dollars	NZD
Nicaragua	Cordobas	NIO
Niger	Communauté Financière Africaine Francs (BCEAO)	XOF
Nigeria	Nairas	NGN
Niue	New Zealand Dollars	NZD
Norfolk Island	Australia Dollars	AUD
Northern Mariana Islands	United States Dollars	USD
Norway	Kroner	NOK
Oman	Rials	OMR
Pakistan	Rupees	PKR
Palau	United States Dollars	USD
Palladium	Ounces	XPD
Panama	Balboa	PAB
Panama	United States Dollars	USD
Papua New Guinea	Kina	PGK
Paraguay	Guarani	PYG
Peru	Nuevos Soles	PEN
Philippines	Pesos	PHP
Pitcairn Islands	New Zealand Dollars	NZD
Platinum	Ounces	XPT
Poland	Zlotych	PLN
Portugal	Euro	EUR
Principe and São Tome	Dobras	STD
Puerto Rico	United States Dollars	USD
Qatar	Rials	QAR
Réunion	Euro	EUR
Romania	New Lei	RON
Russia	Rubles	RUB
Rwanda	Francs	RWF
São Tome and Principe	Dobras	STD
Saba	Netherlands Antilles Guilders (also called Florins)	ANG
Sahara (Western)	Morocco Dirhams	MAD
Saint Christopher	East Caribbean Dollars	XCD
Saint Helena	Pounds	SHP
Saint Kitts and Nevis	East Caribbean Dollars	XCD
Saint Lucia	East Caribbean Dollars	XCD
Saint Pierre and Miquelon	Euro	EUR
Saint Vincent and The Grenadines	East Caribbean Dollars	XCD
Saint-Martin	Euro	EUR
Samoa (American)	United States Dollars	USD
Samoa	Tala	WST
San Marino	Euro	EUR
Saudi Arabia	Riyals	SAR
Seborga	Luigini	SPL
Senegal	Communauté Financière Africaine Francs (BCEAO)	XOF
Serbia	Dinars	RSD
Seychelles	Rupees	SCR
Sierra Leone	Leones	SLL
Silver	Ounces	XAG
Singapore	Dollars	SGD
Sint Eustatius	Netherlands Antilles Guilders (also called Florins)	ANG
Sint Maarten	Netherlands Antilles Guilders (also called Florins)	ANG
Slovakia	Euro	EUR
Slovenia	Euro	EUR
Solomon Islands	Dollars	SBD
Somalia	Shillings	SOS
South Africa	Rand	ZAR
South Georgia	United Kingdom Pounds	GBP
South Sandwich Islands	United Kingdom Pounds	GBP
Spain	Euro	EUR
Sri Lanka	Rupees	LKR
Sudan	Pounds	SDG
Suriname	Dollars	SRD
Svalbard and Jan Mayen	Norway Kroner	NOK
Swaziland	Emalangeni	SZL
Sweden	Kronor	SEK
Switzerland	Francs	CHF
Syria	Pounds	SYP
Taiwan	New Dollars	TWD
Tajikistan	Russia Rubles	RUB
Tajikistan	Somoni	TJS
Tanzania	Shillings	TZS
Thailand	Baht	THB
Timor (East)	Indonesia Rupiahs	IDR
Tobago and Trinidad	Dollars	TTD
Togo	Communauté Financière Africaine Francs (BCEAO)	XOF
Tokelau	New Zealand Dollars	NZD
Tonga	Pa'anga	TOP
Trinidad and Tobago	Dollars	TTD
Tunisia	Dinars	TND
Turkey	Lira	TRY
Turkmenistan	Manats	TMM
Turks and Caicos Islands	United States Dollars	USD
Tuvalu	Tuvalu Dollars	TVD
Uganda	Shillings	UGX
Ukraine	Hryvnia	UAH
United Arab Emirates	Dirhams	AED
United Kingdom	Pounds	GBP
United States Minor Outlying Islands	United States Dollars	USD
United States of America	Dollars	USD
Uruguay	Pesos	UYU
US Virgin Islands	United States Dollars	USD
Uzbekistan	Sums	UZS
Vanuatu	Vatu	VUV
Vatican City (The Holy See)	Euro	EUR
Venezuela	Bolivares Fuertes	VEF
Viet Nam	Dong	VND
Virgin Islands (American)	United States Dollars	USD
Virgin Islands (British)	United States Dollars	USD
Wake Island	United States Dollars	USD
Wallis and Futuna Islands	Comptoirs Français du Pacifique Francs	XPF
Western Sahara	Morocco Dirhams	MAD
Yemen	Rials	YER
Zambia	Kwacha	ZMK
Zimbabwe	Zimbabwe Dollars	ZWD