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So how do Currencies work in 2.5 API?

If I put a number in a Currency Type field, what Currency will the API assume this value to be in and how do I make sure it is in the Currency I intend?

If I do not place a value in the CurrencyISOCode, does the system assume the Currency of the logged in user or something else?

In the situation of Account record, would setting CurrencyISOCode to set "Annual Revenue" change the default currency for that Account (Account Currency)?

Is any of this written down anywhere?


Was this a dumb question or does no one have a clue?