Each currency bears its appropriate three-letter code, its ISO Code developed by the International Organization of Standardization. For example, the US dollar code is USD (United States Dollar), the Euro code is EUR (Euro), the Swiss franc is CHF (Confederation Helvetica Franc), the Japanese yen is JPY (Japanese Yen), the British pound is GBP (Great Britain Pound), and similarly, the Australian dollar is AUD, the Canadian dollar is CAD.
Exchange rates reflect how much one currency values to another currency. Exchange rate codes are expressed in 6-letter currency codes. In the first place, there is a base currency code. Quotations are expressed in units of the second currency against one unit of the first currency. Say, quotations USD/CHF (USD-CHF) show an amount in Swiss francs against one US dollar, while quotations GBP/USD (GBP-USD) on the contrary show how many US dollars should be paid for one British pound.
