Countries, Capitals & Currencies Module
World Currencies & Currency Symbols
Official world currencies are standardized internationally under ISO 4217, which assigns three-letter alphabetic codes and three-digit numeric identifiers to ensure precision in global financial transactions. Major reserve currencies include the United States Dollar (USD, $), Euro (EUR, €), Japanese Yen (JPY, ¥), British Pound Sterling (GBP, £), and Swiss Franc (CHF). In 2010, India adopted the official Indian Rupee symbol (₹), designed by D. Udaya Kumar and based on the Devanagari letter 'Ra' and Roman letter 'R'. The International Monetary Fund maintains the Special Drawing Right (SDR), an international reserve asset whose valuation basket comprises five currencies: the US Dollar, Euro, Chinese Renminbi, Japanese Yen, and British Pound.
Key Concepts & Examination Highlights
- ISO 4217 is the international standard published by the International Organization for Standardization defining three-letter currency codes.
- The Indian Rupee symbol (₹) was formally approved by the Government of India on July 15, 2010, designed by D. Udaya Kumar.
- The IMF Special Drawing Right (SDR) valuation basket consists of five currencies: USD, EUR, CNY, JPY, and GBP.
Curriculum & Reference Sources: International Organization for Standardization (ISO 4217), International Monetary Fund (IMF), Reserve Bank of India