forms - Is it okay to use country flags with currencies?

We are considering incorporating national flags into a currency selector, alongside ISO currency codes, like this:

We are well aware we should not use flags for selecting languages because there isn't a one to one mapping (and other sensitivities) but we're not aware of the same problems occurring with regard to currencies.

Is this a naïve question – are there any trips or traps we should be aware of?

Answer

You should be fine using flags. If you look at the list of currencies, the names are usually made up of a country name and currency (Singapore dollar, Russian ruble, Swiss franc).

Some places use currency that does not originate form a country. For example, most Caribbean countries use the East Caribbean dollar. The Euro is another example. Using the union flag in those cases will not offend any of the members.