Commonly Traded Currencies

The most commonly-traded currencies in the forex market fall into three general categories that are usually called the majors, the minors and the exotic currencies by market professionals.

Furthermore, in order to facilitate international forex transactions among those with differing languages, the International Organization for Standardization or ISO has assigned each currency a particular three-letter code based on its country of origin and traditional name that has become almost synonymous with that currency. This code is known as ISO 4217 or more commonly as the currency code. The codes frequently appear in newspapers, on financial markets news wires, and in other places where currency quotations are made.

The commonly-traded major, minor and exotic currencies have been organized into their respective categories and are listed below along with their currency code and their primary country of use.

Commonly-Traded Major Currencies

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Commonly-Traded Minor Currencies: Commodity and Scandinavian Currencies

The minor currencies come from developed countries that are less significant as international trading partners, and can be broken down in the commodity currencies, which tend to trade in concert with the prices of the commodities they export, and currencies of the Scandinavian countries of Northern Europe.