The All-Russian Classifier of Currencies (OKV) is a regulatory document that, in its status, complies with the state standard. Like other classifiers, OKV is included in the Unified system of classification and coding of social and technical and economic information.
The classifier does not contain information on exchange rates; it cannot be found in it, for example, the cash exchange rate of the dollar. OKV is a systematic list of objects, in this case, currencies of different countries and territories of 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 in comparison with others - a multilevel hierarchy is not typical for it.
The All-Russian classifier of currencies includes a preface indicating such data as information about the developers of the document and the date of its approval; introduction describing the structure of the document and its scope, the main table and two additional applications, also representing tables.
The main table shows the digital (three-digit) and letter codes of currencies, the names of monetary units, as well as the countries in whose territory these currencies go. Appendices A and B are identical to the main table with the difference that in the main table objects are sorted in ascending order of digital code, in Appendix A - in alphabetical order of currency names, in Appendix B - according to state names.
OKV is used to encode information in statistics, accounting, banking. An example of application is the use by Russian banks in the formation of numbers of settlement accounts of customers of a digital currency code in which an account is opened. The exception is the Russian national currency - its current code, according to the classifier, is 643, however, when generating account numbers, code 810 is applied, which was valid until the denomination that happened in 1998.
The All-Russian Classifier of Currencies was introduced in July 1995 to replace the previously used All-Union Classifier, which was a legacy of the Soviet era. However, in some areas the Soviet classifier was used for some time, for example, in customs, banking, and in the field of currency control. The new currency classifier fully took the place of the previous one only in 1997.
The basis for the development of the classifier was the international standard ISO 4217, and to ensure compliance, the OKW did not include clearing currencies (used for international settlements on the basis of a currency clearing agreement). These currencies are classified in a separate document - the classifier of clearing currencies.
The differences between OKW and ISO 4217, although insignificant, still exist. Thus, some territories that do not have their own currencies and do not use others are not included in the OKW. OKV did not include some technical codes available in ISO 4217, as well as currency values - precious metals and currency funds. OKV does not contain information about the presence of exchange units in a currency.
On the basis of OKV, the Interstate Classifier (for use within the CIS) and the corresponding classifier operating in the countries of the Customs Union that are almost identical to it have been developed and are applied in relevant areas .
From 1995 to the present, the All-Russian Classifier of Currencies has introduced more than 40 changes reflecting the processes taking place in the world - the emergence of new states, the emergence of new currencies, and the like. In addition to the changes, 5 amendments were made to the OKW. The amendments have as their goal the correction of errors in the adoption of the document.
The classifier is maintained by the Federal State Unitary Enterprise Standartinform and the Central Bank of Russia.