Russian classification of currencies

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2018-03-22 18:12:07

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The all-Russian classifier of currencies (OKV) – a regulatory document, the status corresponding to the state standard. Like other classifiers, the RCC included in the Unified system of classification and coding of social and techno-economic information.

The Classifier does not contain information on exchange rates, it is impossible to find, for example, the cash dollar exchange rate. OK – is a systematic list of objects, in this case, currencies of different countries and territories around the world, each of which is assigned a code. Moreover, unlike most other classifiers, not one code but two – alphanumeric. The structure of the classifier is relatively simple compared to the other – it is not typical multi-level hierarchy.

The all-Russian classifier of currencies includes Foreword by specifying data such as data on the developers of the document and the date of its approval; an introduction describing the document's structure and the scope of its application, the main table and two additional applications also representing a table.

In the main table shows the numeric (three-digit) and lettered currency codes, the names of monetary units and the countries in which these currencies go to. Annexes A and B identical to the main table with the difference that in the main table objects sorted in ascending order of the digital code, Appendix A – in alphabetical order of the names of the currency, Appendix B – for the names of the States.

The RCC is used to encode information in statistics, accounting, and banking. Example of application is the use of Russian banks in the formation of the offer of settlement accounts of clients of the digital code of currency in which account is opened. The exception is the Russian national currency – the current code, according to the classifier, - 643, however, the formation of the account numbers used code 810 in force before the incident in 1998 denomination.

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The all-Russian classifier of currencies was introduced in July 1995, instead of the previously used all-Union classifier, which was the legacy of the Soviet era. However, in some areas of the Soviet classifier had been around for some time, for example, in the customs, banking, foreign exchange controls. New classification rates completely took the place of the previous only in 1997.

The Basis for the development of the classifier was the international standard ISO 4217, and to ensure compliance in RCC has not been included clearing currencies (applicable for international payments on the basis of the contract about currency clearing). These currencies are classified in a separate document-a classifier clearing currencies.

The differences between the RCC and the ISO 4217 albeit minor, but still there. Thus, RCC does not include some areas that do not have their own currencies and not using others. In RCC was not included by some technical codes are available in ISO 4217, currency values – precious metals and currency funds. OKW does not contain information about the presence of a currency swap units.

On the basis of RCC developed and applied in the appropriate spheres was almost identical interstate classifier (for use with CIS) and a corresponding classifier operating in the countries of the Customs Union.

From 1995 to the present time in the Russian classification of currencies made more than 40 changes to reflect what is happening in the world – the emergence of new Nations, the emergence of new currencies and the like. In addition to the changes in the OKW was made 5 amendments. The amendments have as their object the correction made during the adoption of the document error.

The Conduct of the classifier is carried out FSUE «STANDARTINFORM”and the Central Bank of Russia.


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Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

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