Popular Currency Nicknames in Forex Market

Popular Currency Nicknames in Forex Market

Apart from their official names, the major currencies carry special nicknames as well, which are widely spread among Forex traders. Do you want to know from where these nicknames come? So, let us reveal the origins.

USD – the US dollar. The USD received a nickname mainly because calling it simply “the Dollar” might have arisen some confusion. Let us recall that the currencies of such countries as Canada, Australia and New Zealand are also called the dollar. The nickname Dollar or Buck is popular among professional traders. But it was the term “Greenback” that has gained great popularity among Forex market commentators. This term has its history. I will now tell you, it’s very interesting. So, it was during the Civil War in America in the late 1800’s when then-president Abraham Lincoln printed U.S. Demand Notes to finance the war. He printed the front side of it black and the back side green. It was something new, since all currency notes had blank backs in that period. Now, I hope, you have understood how USD received the nickname “Greenback”.

EUR – the European Union’s Euro. The European Union or Eurozone is now using the EUR as its official currency. The circulation of the EUR started not long ago, in 1999, however it is gaining more and more popularity, yielding only to the USD. Fiber or Fibre stands as the nickname of the EUR. According to some sources, it has received that name because the EUR bills are made of cotton fiber.

  

GBP – Britain’s Pound Sterling. In Forex market the GBP is very often called just Pound, Sterling or Cable. The nickname “Cable” came about because formerly the USDGBP exchange rate was transmitted via the Trans-Atlantic telegraph cable, laid between London and New York.

CHF – Switzerland’s Swiss Franc: Swissie, the Chief. The Swissie is mainly spread among professional traders, whereas the retail Forex market prefers the name “the Chief”.

CAD –Canadian dollar. The pair USDCAD is frequently referred to as “the Funds”. This is because the currency pair trades for value one business day for funds, not two business days as in case of other currency pairs. The CAD carries the nickname “Loonie” as well. The loon is the national bird of Canada which is pictured on the one dollar Canadian coin.

AUD –Australian dollar: the Aussie: Aussie is named after a native of Australia.

NZD –New Zealand dollar: the Kiwi. Kiwi is a flightless bird, specific only to New Zealand. Thus it comes to be the national bird of the country and appears on the one New Zealand Dollar coin. Sometimes natives of New Zealand are also called Kiwis.