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Other changes can be seen, however; the Russian ruble, for example, changed from RUR to RUB, where the B comes from the third letter in the word "ruble".

There is also a three-digit code number assigned to each currency, in the same manner as there is also a three-digit code number assigned to each country as part of ISO 3166.

Consequently, ISO 4217 can use "X" codes for non-country-specific currencies without risk of clashing with future country codes.

Supranational currencies, such as the East Caribbean dollar, the CFP franc, the CFA franc BEAC and the CFA franc BCEAO are normally also represented by codes beginning with an "X".

Some currencies do not have any minor currency unit at all.

In others, the major currency unit has so little value that the minor unit is no longer generally used (e.g. This is indicated in the standard by the currency exponent.

In many countries, the codes for the more common currencies are so well-known, by the general public, that exchange rates written in newspapers or posted in banks use only those codes to define the different currencies, instead of translated currency names or currency symbols.

Often, the minor currency unit has a value that is 1/100 of the major unit, but 1/1000 is also common.

In 1973, the ISO Technical Committee 68 decided to develop codes for the representation of currencies and funds for use in any application of trade, commerce or banking.

At the 17th session (February 1978) of the related UN/ECE Group of Experts agreed that the three-letter alphabetic codes for International Standard ISO 4217, "Codes for the representation of currencies and funds", would be suitable for use in international trade.

The euro is represented by the code EUR (EU is included in the ISO 3166-1 reserved codes list to represent the European Union).

The predecessor to the euro, the European Currency Unit (ECU), had the code XEU.

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Exchange rates display at a Bureau de change listing currency names in English and their ISO 4217 codes.

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