Foreign Exchange

Forex is a commonly used abbreviation for "foreign exchange," and it is typically used to describe trading in the foreign exchange market by investors and speculators. For example, imagine a situation where the U.S. dollar is expected to weaken in value relative to the euro. A forex trader in this situation will sell dollars and buy euros. If the euro strengthens, the purchasing power to buy dollars has now increased. The trader can now buy back more dollars than they had to begin with, making a profit. It is similar to stock trading. A stock trader will buy a stock if they think its price will rise in the future and sell a stock if they think its price will fall in the future. Similarly, a forex trader will buy a currency pair if they expect its exchange rate will rise in the future and sell a currency pair if they expect its exchange rate will fall in the future.








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World Currencies

Afghanistan - Afghani
Albania - Lek
Algeria - Dinar
Andorra - Euro
Angola - New Kwanza
Antigua and Barbuda - East Caribbean dollar
Argentina - Peso
Armenia - Dram
Australia - Australian dollar
Austria - Euro (formerly schilling)
Azerbaijan - Manat
Bahamas - Bahamian dollar
Bahrain - Bahrain dinar
Bangladesh - Taka
Barbados - Barbados dollar
Belarus - Belorussian ruble
Belgium - Euro (formerly Belgian franc)
Belize - Belize dollar
Benin - CFA Franc
Bhutan - Ngultrum
Bolivia - Boliviano
Bosnia and Herzegovina - Marka
Botswana - Pula
Brazil - Real
Brunei - Brunei dollar
Bulgaria - Lev
Burkina Faso - CFA Franc
Burundi - Burundi franc
Cambodia - Riel
Cameroon - CFA Franc
Canada - Canadian dollar
Cape Verde - Cape Verdean escudo
Central African Republic - CFA Franc
Chad - CFA Franc
Chile - Chilean Peso
China - Yuan/Renminbi
Colombia - Colombian Peso
Comoros - Franc
Congo, Democratic Republic of the - Congolese franc
Congo, Republic of - CFA Franc
Costa Rica - Colón
Côte d'Ivoire - CFA Franc
Croatia - Kuna
Cuba - Cuban Peso
Cyprus - Cyprus pound
Czech Republic - Koruna
Denmark - Krone
Djibouti - Djibouti franc
Dominica - East Caribbean dollar
Dominican Republic - Dominican Peso
East Timor - U.S. dollar
Ecuador - U.S. dollar
Egypt - Egyptian pound
El Salvador - Colón; U.S. dollar
Equatorial Guinea - CFA Franc
Eritrea - Nakfa
Estonia - Kroon
Ethiopia - Birr
Fiji - Fiji dollar
Finland - Euro (formerly markka)
France - Euro (formerly French franc)
Gabon - CFA Franc
Gambia - Dalasi
Georgia - Lari
Germany - Euro (formerly Deutsche mark)
Ghana - Cedi
Greece - Euro (formerly drachma)
Grenada - East Caribbean dollar
Guatemala - Quetzal
Guinea - Guinean franc
Guinea-Bissau - CFA Franc
Guyana - Guyanese dollar
Haiti - Gourde
Honduras - Lempira
Hungary - Forint
Iceland - Icelandic króna
India - Rupee
Indonesia - Rupiah
Iran - Rial
Iraq - U.S. dollar
Ireland - Euro (formerly Irish pound [punt])
Israel - Shekel
Italy - Euro (formerly lira)
Jamaica - Jamaican dollar
Japan - Yen
Jordan - Jordanian dinar
Kazakhstan - Tenge
Kenya - Kenya shilling
Kiribati - Australian dollar
Korea, North - Won
Korea, South - Won
Kuwait - Kuwaiti dinar
Kyrgyzstan - Som
Laos - New Kip
Latvia - Lats
Lebanon - Lebanese pound
Lesotho - Maluti
Liberia - Liberian dollar
Libya - Libyan dinar
Liechtenstein - Swiss franc
Lithuania - Litas
Luxembourg - Euro (formerly Luxembourg franc)
Macedonia - Denar
Madagascar - Malagasy franc
Malawi - Kwacha
Malaysia - Ringgit
Maldives - RufiyaMaliCFA Franc
Malta - Euro
Mauritania - Ouguiya
Mauritius - Mauritian rupee
Mexico - Mexican peso
Moldova - Leu
Monaco - Euro
Mongolia - TugrikMontenegroEuro
Morocco - Dirham
Mozambique - Metical
Myanmar - Kyat
Namibia - Namibian dollar
Nauru - Australian dollar
Nepal - Nepalese rupee
Netherlands - Euro (formerly guilder)
New Zealand - New Zealand dollar
Nicaragua - Gold cordoba
Niger - CFA Franc
Nigeria - Naira
Norway - Norwegian krone
Oman - Omani rial
Pakistan - Pakistan rupee
Palau - U.S. dollar used
Palestinian State (proposed) - New Israeli shekels, Jordanian dinars, U.S. dollars
Panama - balboa; U.S. dollar
Papua New Guinea - Kina
Paraguay - Guaraní
Peru - Nuevo sol (1991)
Philippines - Peso
Poland - Zloty
Portugal - Euro (formerly escudo)
Qatar - Qatari riyal
Romania - Leu
Russia - Ruble
Rwanda - Rwanda franc
St. Kitts and Nevis - East Caribbean dollar
St. Lucia - East Caribbean dollar
St. Vincent and the Grenadines - East Caribbean dollar
Samoa - Tala
San MarinoEuro
São Tomé and Príncipe - Dobra
Saudi Arabia - Riyal
Senegal - CFA FrancSerbiaYugoslav new dinar. In Kosovo both the euro and the Yugoslav dinar are legal
Seychelles - Seychelles rupee
Sierra Leone - Leone
Singapore - Singapore dollar
Slovakia - Koruna
Slovenia - Slovenian tolar; euro
Solomon Islands - Solomon Islands dollar
Somalia - Somali shilling
South Africa - Rand
Spain - Euro (formerly peseta)
Sri Lanka - Sri Lanka rupee
Sudan - Dinar
Suriname - Surinamese dollar
Swaziland - Lilangeni
Sweden - Krona
Switzerland - Swiss franc
Syria - Syrian pound
Taiwan - Taiwan dollar
Tajikistan - somoni
Tanzania - Tanzanian shilling
Thailand - baht
Togo - CFA Franc
Tonga - Pa'anga
Trinidad and Tobago - Trinidad and Tobago dollar
Tunisia - Tunisian dinar
Turkey - Turkish lira (YTL)
Turkmenistan - Manat
Tuvalu - Australian dollar
Uganda - Ugandan new shilling
Ukraine - Hryvna
United Arab Emirates - U.A.E. dirham
United Kingdom - Pound sterling (£)
United States - dollar
Uruguay - Uruguay peso
Uzbekistan - Uzbekistani sum
Vanuatu - Vatu
Vatican City - Euro
Venezuela - Bolivar
Vietnam - Dong
Western Sahara (proposed state) - Tala
Yemen - Rial
Zambia - Kwacha
Zimbabwe - Zimbabwean dollar

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