Currency symbols represent the value of a country’s currency and are used in Forex trading and global finance. These symbols typically consist of three letters, which identify the currency’s country and unit. Here’s a breakdown: 1. ISO Code: Most currency symbols follow a standard ISO 4217 code, consisting of three letters. The first two letters represent the country (e.g., US for the United States), and the third letter represents the currency (e.g., D for dollar), so USD stands for the U.S. Dollar. 2. Common Examples: • USD – U.S. Dollar • EUR – Euro • JPY – Japanese Yen • GBP – British Pound • AUD – Australian Dollar 3. Currency Symbols: Many currencies also have a symbol used in daily transactions (like $ for the dollar or € for the euro). However, in Forex, the three-letter ISO code is more commonly used. 4. Cross-Currency Pairs: In Forex trading, currencies are traded in pairs (e.g., EUR/USD), indicating how much of one currency is needed to purchase another. In short, currency symbols are shorthand for identifying and trading national currencies globally, helping simplify transactions and financial communication. #firstdealofthenewyearFateema