Groupe de travail chargé de coordonner les statistiques des pêches (CWP)

Currencies and funds

Most economic statistics are collected using national currencies while much use of the international statistics requires that these data are on a comparable basis, e.g. in USD. Guidance on conversion from local currencies to a common standard, is provided by UN Statistical Office: International Merchandise Trade Statistics: Compilers Manual Section B. In some cases the conversion is done by the regional organisation to achieve consistency and these conversions may be based on different principles decided on based on the particular usage of the data.

The most commonly used version (and simplest) is based on daily exchange rates (e.g. taken on a daily base from Reuters). Where monthly averages are needed these are simple averages of daily data and annual data are averages of monthly data. There are countries that are not included in the standard lists (e.g. in 2013 Iceland) where exchange rates can be obtained from their national bank websites.

Where statistics are transmitted there is a need for codes and the ISO has developed international standard codes for the representation of currencies and funds (ISO 4217). These codes are related to those developed by the ISO for geographical entities (ISO 3166).

CWP has provided two annexes which list currencies and funds by country or area (former Annex F.I) and by ISO 3-alpha currency code (former Annex F.II).

Bibliography

United Nations. 2004. International merchandise trade statistics: compilers manual. United Nations Publication Sales No. E.02.XVII.17. New York, UN. 121 pp. (also available at https://unstats.un.org/unsd/publication/seriesf/seriesf_87e.pdf).

Resources for currencies and funds

International Organization for Standardization (ISO). 2015. ISO 4217:2015 Codes for the representation of currencies. [Cited 1 November 2020]. https://www.iso.org/standard/64758.html