Currencies

Payer currency vs. recipient currency

When dealing with currencies, you have to keep in mind that there can be two different currencies involved in one payment if there is FX (Foreign Exchange) necessary for the payment. For example, the payer can pay in Indian Rupees (INR) and the recipient receives Dollars (USD). In that case, you have to look at the two different sides of the payment, the payer and the recipient:

  • Payer's side: The payer currency

    The payer currency is the currency the payer pays in. If the payer currency is different from the billing currency, it will be converted to the billing currency.

  • Recipient side: The billing currency

    The billing currency is the currency in which the recipient of the payment is billing their payer. The billing currency depends on the recipient's configuration and is defined when the recipient is set up by Flywire.

Subunits

Subunits are the smallest unit of a currency, defined by its decimal system.

  • Usually currencies have 2 decimal places. For example, 120.00 United States Dollars (USD) is represented as 12,000 cents (subunit to unit = 100).

  • Some currencies, like the Japanese Yen (JPY), do not have decimal places (subunit to unit = 1).

  • Some currencies, like the Vietnamese Dong (VND), have 1 decimal place (subunit to unit = 10).

  • Some currencies, like the Bahraini Dinar (BHD), have 3 decimal places (subunit to unit = 1,000).

To convert a currency into its subunits, you need to know the exchange rate between the currency's base unit and its subunits.

For example, if you are converting United States Dollars to cents the exchange rate is 100 cents per dollar. Once you know the exchange rate, you multiply the amount of the currency's base unit you want to convert to subunits by the exchange rate. If you are converting $100.00 to cents, you do so using the sum: $100.00 x 100 = 10,000 cents.

If you are working with a currency that does not use subunits, such as the Japanese Yen, you do not need to perform this conversion.

To view a list of the currencies that Flywire supports, as well as their unit to subunit exchange rates, refer to List of currency codes and subunits.

Currency codes

Each currency has an ISO 4217 code.

Whenever you need to specify a currency in Flywire, use its ISO 4217 code, not the full name.

List of currency codes and subunits

 

Currency
ISO 4217 code		 Currency Full Name Subunit to Unit
AED United Arab Emirates Dirhams 100
AFN Afghan afghanis 100
AMD Armenian drams 100
ANG Netherlands Antillean guilders 100
AOA Angolan kwanzas 100
ARS Argentine pesos 100
AUD Australian Dollars 100
AWG Aruban florin 100
AZN Azerbaijani Manat 100
BAM Bosnia and Herzegovina convertible marks 100
BBD Barbadian dollars 100
BDT Bangladeshi takas 100
BGN Bulgarian Levs 100
BHD Bahraini Dinars 1,000
BIF Burundian franc 100
BMD Bermudian Dollars 100
BND Brunei dollar 100
BOB Bolivian Bolivianos 100
BRL Brazilian Reals 100
BSD Bahamian Dollars 100
BTN Bhutanese ngultrum 100
BWP Botswana pula 100
BZD Belize dollars 100
CAD Canadian Dollars 100
CDF Congolese francs 100
CHF Swiss Francs 100
CLP Chilean pesos 1
CNH Chinese Yuan (Offshore) Renminbi 100
CNY Chinese Yuan Renminbi 100
COP Colombian pesos 100
CRC Costa Rican colones 100
CVE Cape Verdean escudos 100
CZK Czech Korunas 100
DJF Djiboutian francs 100
DKK Danish Kroner 100
DOP Dominican pesos 100
DZD Algerian dinars 100
EGP Egyptian pounds 100
ERN Eritrean Nakfas 100
ETB Ethiopian Birrs 100
EUR Euros 100
FJD Fijian Dollars 100
FKP Falkland Islands pounds 100
GBP British Pounds 100
GEL Georgian lari 100
GHS Ghana cedis 100
GIP Gibraltar Pounds 100
GMD Gambian dalasis 100
GNF Guinean francs 100
GTQ Guatemalan Quetzals 100
GYD Guyanaese Dollars 100
HKD Hong Kong Dollars 100
HNL Honduran lempiras 100
HRK Croatian Kunas 100
HTG Haitian gourdes 100
HUF Hungarian Forints 100
IDR Indonesian Rupiahs 100
ILS Israeli New Sheqels 100
INR Indian Rupees 100
ISK Icelandic krónur 100
JMD Jamaican dollars 100
JOD Jordanian Dinars 100
JPY Japanese Yen 1
KES Kenyan Shillings 100
KGS Kyrgyzstani Som 100
KHR Cambodian Riels 100
KMF Comorian francs 100
KRW South Korean Won 100
KWD Kuwaiti Dinars 1,000
KYD Cayman Island Dollars 100
KZT Kazakhstani tenge 100
LAK Lao kip 100
LBP Lebanese Pounds 100
LKR Sri Lankan rupees 100
LRD Liberian dollars 100
LSL Lesotho maloti 100
LYD Libyan Dinars 1,000
MAD Moroccan Dirhams 100
MDL Moldovan lei 100
MGA Malagasy ariary 5
MKD Macedonian denari 100
MMK Myanmar kyat 100
MNT Mongolian tugriks 100
MOP Macau Patacas 100
MUR Mauritian Rupees 100
MVR Maldivian Rufiyaas 100
MWK Malawian kwachas 100
MXN Mexican Pesos 100
MYR Malaysian Ringgits 100
MZN Mozambican meticais 100
NAD Namibian Dollars 100
NGN Nigerian Naira 100
NIO Nicaraguan córdobas 100
NOK Norwegian Kroner 100
NPR Nepalese rupees 100
NZD New Zealand Dollars 100
OMR Omani Rials 1,000
PAB Panamanian Balboas 100
PEN Peruvian Nuevo Sols 100
PGK Papua New Guinean kina 100
PHP Philippine Pisos 100
PKR Pakistani rupees 100
PLN Polish złoties 100
PYG Paraguayan guaranies 100
QAR Qatari Riyals 100
RON Romanian Leus 100
RSD Serbian Dinars 100
RWF Rwandan francs 100
SAR Saudi Riyals 100
SBD Solomon Islands dollars 100
SCR Seychellois rupees 100
SEK Swedish Kronor 100
SGD Singapore Dollars 100
SHP Saint Helena pounds 100
SLL Sierra Leonean leones 100
SOS Somali shillings 100
SRD Surinamese dollars 100
STD São Tomé and Príncipe dobras 100
SZL Swazi Lilangenis 100
THB Thai Bahts 100
TJS Tajikistani somoni 100
TND Tunisian Dinars 1,000
TOP Tongan paʻanga 100
TRY Turkish Liras 100
TTD Trinidad and Tobago Dollars 100
TWD New Taiwan Dollars 100
TZS Tanzanian shillings 100
UAH Ukrainian Hryvnia 100
UGX Ugandan shillings 100
USD United States Dollars 100
UYU Uruguayan pesos 100
UZS Uzbekistan So'm 100
VND Vietnamese Dong 10
VUV Vanuatu vatu 1
WST Samoan tālā 100
XAF CFA francs 100
XCD East Caribbean dollars 100
XOF West African CFA francs 100
XPF French Pacific Francs 100
YER Yemeni Rials 100
ZAR South African Rands 100
ZMW Zambian kwacha 100