Currency code data refers to a standardized way of identifying currencies in financial transactions. Each currency is assigned a unique three-letter code as part of the ISO 4217 standard. For example, the currency code for the US dollar is USD, and the currency code for the euro is EUR. These codes are used to facilitate international commerce and to avoid confusion when dealing with multiple currencies.
XML validation supports data governance and data management in organizations by ensuring that the data being stored and processed adheres to a set of pre-defined rules and constraints. This helps to maintain the consistency, accuracy, and reliability of the data, which is critical for effective decision-making and data-driven business processes. By validating data at the point of entry, organizations can catch errors and inconsistencies early on, which minimizes the risk of incorrect or incomplete data being stored in the database. Furthermore, by validating data against a specific schema or data definition language (DTD), organizations can ensure that the data being stored and processed conforms to a common set of standards, which facilitates data integration and interoperability between different systems and applications.