Currencies in Forex: A Quick Guide

Explore the currencies traded in forex, from major pairs like USD and EUR to exotic ones like ZAR. Learn their symbols and roles in this 1-minute guide.

Forex trading is all about currencies—buying one, selling another, and riding the waves of their value shifts. To thrive in this market, you need to know the players: the currencies themselves. Let’s decode them in a flash.

Cracking Currency Symbols

Every currency has a three-letter code. The first two letters tag the country, and the third nails down the currency. Take USD: “US” for United States, “D” for dollar. Simple, right? These symbols are your forex alphabet.

The Big Three: Currency Categories

Forex currencies split into three tiers: major, minor, and exotic. Each has its own vibe and trading quirks.

Major Currencies: The Heavy Hitters

The “majors” are the rockstars of forex—stable, liquid, and traded like crazy. They’re the go-to for most traders thanks to their reliability. Meet the lineup:

• USD - U.S. Dollar
• EUR - Euro
• GBP - British Pound
• JPY - Japanese Yen
• CHF - Swiss Franc
• CAD - Canadian Dollar

Minor and Exotic Currencies: The Wild Cards

Minor and exotic currencies are less traded, less liquid, and more prone to swings from political or economic chaos. They’re riskier but can offer big rewards. Here’s a taste:

• AUD - Australian Dollar
• NZD - New Zealand Dollar
• DKK - Danish Krone
• NOK - Norwegian Krone
• SEK - Swedish Krona
• KRW - South Korean Won
• TRY - Turkish Lira
• HKD - Hong Kong Dollar
• INR - Indian Rupee
• ZAR - South African Rand
• BRL - Brazilian Real
• IDR - Indonesian Rupiah

Why It Matters

Knowing your currencies—majors for stability, exotics for adventure—sets you up to trade smarter. Whether you’re eyeing USD or ZAR, understanding their symbols and quirks is step one to mastering forex.