Where do currency and currency pair nicknames come from?

Forex trading is full of colorful nicknames that add character and recognition to currencies and currency pairs.

From individual currencies to pairs, these nicknames often carry historical, cultural, or economic significance.

In this article, we’ll explore the origins of the most popular currency and currency pair nicknames, uncovering the stories behind them.

Let’s dive in!

Nicknames of the Forex currencies

The Greenback (USD)

One of the most well-known currency nicknames refers to the U.S. dollar. The term comes from the distinctive green color of American banknotes.

The federal government began issuing paper currency during the U.S. Civil War. Since photographic technology at the time couldn’t reproduce color, the decision was made to print the back of the notes in a shade other than black.

Green was chosen because it symbolized stability. This marked the beginning of the “green money” tradition, and ever since, the U.S. has continued printing the backs of its banknotes in green.

Today, “Greenback” is the most common nickname for the U.S. dollar, though it’s also known by other names such as “Benjis” and “Paper.”

The Loonie (CAD)

The Canadian dollar is nicknamed the “Loonie” after the common loon, a bird native to Canada that appears on the country’s one-dollar coin.

The loon is featured on the reverse side of the coin, while the obverse carries a portrait of Queen Elizabeth II.

The nickname became so popular that the Royal Canadian Mint officially trademarked the term in 2006.

Introduced in 1987, the Loonie was intended to replace the paper version of the Canadian dollar—both as a cost-saving measure and due to pressure from vending machine operators.

The Aussie (AUD)

The Australian dollar (AUD) is commonly referred to as the “Aussie.” This nickname comes from the colloquial term for “Australian” and is widely used in everyday language.

Australians themselves, as well as the country’s sports teams, are often called Aussies. The name naturally carried over to the forex market, where the AUD is now universally known as the Aussie.

The Quid (GBP)

“Quid” is a slang term for the currency of the United Kingdom (U.K.), specifically the British pound (GBP). One quid equals 100 pence, and the nickname may have originated from the Latin phrase “quid pro quo.”

The term “quid” first appeared sometime in the 17th century, though it’s unclear exactly when it began to be associated with the British currency. Some sources suggest that its predecessor was the word “scudo,” used by Italian immigrants to refer to gold and silver coins in Italy from the 16th to the 19th century.

The currency is also referred to as “sterling.” The British pound is officially called the pound sterling, and this isn’t just a nickname. The name sterling dates back to a time when one British pound was equivalent in value to one pound of sterling silver.

The Kiwi (NZD)

The New Zealand dollar (NZD) is commonly known as the “Kiwi.” The nickname comes from New Zealand’s national bird, which is also a symbol of national pride.

The connection between the kiwi bird and the currency dates back to the early 20th century, when a kiwi was featured on New Zealand’s one-pound banknote.

Since then, the term “Kiwi” has become synonymous with the New Zealand dollar.

The kiwi is a flightless bird found only in New Zealand and serves as both an icon and a national symbol.

The Swissy (CHF)

“Swissy” is a slang term for the Swiss franc (CHF). More often, the term “Swissy” refers to the currency pair USD/CHF.

The Swiss franc is the official currency of the Confoederatio Helvetica, which is the Latin name for the Swiss Confederation—hence the abbreviation CHF. It’s called Swissy because it is used by the Swiss.

Nicknames of the Forex currency pairs

Cable (GBP/USD)

The currency pair consisting of the British pound (GBP) and the U.S. dollar (USD) is commonly known as the “Cable.”

This nickname dates back to the mid-19th century, when exchange rates between the two currencies were transmitted via a transatlantic telegraph cable.

Although modern technology has made the cable obsolete, the name continues to be used, serving as a reminder of the historical connection between the British pound and the U.S. dollar.

Fiber (EUR/USD)

The EUR/USD currency pair is nicknamed “Fiber” because of the optical cables connecting financial markets in Europe and the U.S.

This name emerged during the tech boom of the late 20th century, when optical cables became the primary medium for transmitting data.

The reliability of these cables is crucial for traders who need to make fast, information-based decisions—hence, EUR/USD is called “Fiber.”

Ninja (USD/JPY)

The yen is one of the most traded currencies in Forex and became Japan’s official currency in 1871.

The currency pair consisting of the U.S. dollar (USD) and the Japanese yen (JPY) is sometimes nicknamed “Ninja.”

This nickname reflects Japan’s culture and the mystique surrounding the skilled and secretive ninjas of ancient Japan.

Guppy (GBP/JPY)

The currency pair consisting of the British pound (GBP) and the Japanese yen (JPY) is nicknamed “Guppy.”

There are two theories about the origin of this nickname. One suggests it comes from combining “GBP” and “JPY,” similar to how “Yuppy” comes from “EUR” and “Yen.”

The other theory links the name to the long, colorful tails of guppy fish, reflecting the frequent volatility often seen in the GBP/JPY currency pair.

Barnie (USD/RUB)

This nickname comes from the popular animated show “The Flintstones.”

The Flintstones’ neighbor, Barney, shares the surname Ruble.

That’s why the USD/RUB currency pair is often referred to as “Barney.”

Summary

Currency pair nicknames are an integral part of the trading community, adding color and recognition to the diverse world of forex trading. From popular terms like Greenback and Cable to unique nicknames such as Ninja, Guppy, and Barney, each nickname has its own story and meaning.

While these nicknames make communication easier, it’s important to remember the official currency codes. Nicknames for currencies and currency pairs can vary depending on traders and regions. The nicknames mentioned here are widely recognized, but they should never replace the official codes and naming conventions used in forex trading.