diff --git a/README.md b/README.md
index 5d9d93b..7cf6a33 100644
--- a/README.md
+++ b/README.md
@@ -172,7 +172,7 @@ $money = Money::new(123456, CZK::class);
 $money->rawFormatted(); // 1 235,56 Kč
 ```
 
-And converting the formatted value back to the Money instance is also possible:
+And converting the formatted value back to the Money instance is also possible. The package tries to extract the currency from the provided string.
 ```php
 $money = money(1000);
 $formatted = $money->formatted(); // $10.00
@@ -180,7 +180,18 @@ $fromFormatted = Money::fromFormatted($formatted);
 $fromFormatted->is($money); // true
 ```
 
-Note: `fromFormatted()` misses the cents if the [math decimals](#math-decimals) are greater than [display decimals](#display-decimals).
+Optional overrides for the [currency specification](#currency-logic) are accepted too.
+```php
+$money = money(1000);
+$formatted = $money->formatted(); // $10.00
+$fromFormatted = Money::fromFormatted($formatted, USD::class, ['decimalSeparator' => ',', 'prefix' => '$ ', 'suffix' => ' USD']);
+$fromFormatted->is($money); // true
+```
+
+Notes:
+1) If currency is not specified and none of the currencies match the prefix and suffix, an exception will be thrown.
+2) If currency is not specified and multiple currencies use the same prefix and suffix, an exception will be thrown.
+3) `fromFormatted()` misses the cents if the [math decimals](#math-decimals) are greater than [display decimals](#display-decimals).
 
 ### Rounding money
 
diff --git a/src/Money.php b/src/Money.php
index 9eb22ab..0f66604 100644
--- a/src/Money.php
+++ b/src/Money.php
@@ -174,6 +174,10 @@ final class Money implements JsonSerializable, Arrayable, Wireable
     /** Create a Money instance from a formatted string. */
     public static function fromFormatted(string $formatted, Currency|string $currency = null, mixed ...$overrides): self
     {
+        $currency = isset($currency)
+            ? currency($currency)
+            : PriceFormatter::extractCurrency($formatted);
+
         $decimal = PriceFormatter::resolve($formatted, currency($currency), variadic_array($overrides));
 
         return static::fromDecimal($decimal, currency($currency));
diff --git a/src/PriceFormatter.php b/src/PriceFormatter.php
index d4e2d69..709a10a 100644
--- a/src/PriceFormatter.php
+++ b/src/PriceFormatter.php
@@ -23,7 +23,7 @@ class PriceFormatter
         return $currency->prefix() . $decimal . $currency->suffix();
     }
 
-    /** Extract the decimal from the formatter string as per the currency's specifications. */
+    /** Extract the decimal from the formatted string as per the currency's specifications. */
     public static function resolve(string $formatted, Currency $currency, array $overrides = []): float
     {
         $currency = Currency::fromArray(
@@ -41,4 +41,25 @@ class PriceFormatter
 
         return (float) str_replace($currency->decimalSeparator(), '.', $removeNonDigits);
     }
+
+    /** Tries to extract the currency from the formatted string. */
+    public static function extractCurrency(string $formatted): Currency
+    {
+        $possibleCurrency = null;
+
+        foreach (currencies()->all() as $currency) {
+            if (
+                str_starts_with($formatted, $currency->prefix())
+                && str_ends_with($formatted, $currency->suffix())
+            ) {
+                if ($possibleCurrency) {
+                    throw new \Exception('Multiple currencies are using the same prefix and suffix. Please specify the currency of the formatted string.');
+                }
+
+                $possibleCurrency = $currency;
+            }
+        }
+
+        return $possibleCurrency ?? throw new \Exception('None of the currencies are using the prefix and suffix that would match with the formatted string.');
+    }
 }
diff --git a/tests/Pest/MoneyTest.php b/tests/Pest/MoneyTest.php
index 4ab046a..586b8b7 100644
--- a/tests/Pest/MoneyTest.php
+++ b/tests/Pest/MoneyTest.php
@@ -159,6 +159,24 @@ test('money can be created from a raw formatted string', function () {
     expect($money->value())->toBe(123456);
 });
 
+test('an exception is thrown if none of the currencies match the prefix and suffix', function () {
+    $money = money(1000);
+    $formatted = $money->formatted();
+
+    currencies()->remove(USD::class);
+
+    pest()->expectException(\Exception::class);
+    Money::fromFormatted($formatted);
+});
+
+test('an exception is thrown if multiple currencies are using the same prefix and suffix', function () {
+    currencies()->add(['code' => 'USD2', 'name' => 'USD2', 'prefix' => '$']);
+    $money = money(1000);
+
+    pest()->expectException(\Exception::class);
+    Money::fromFormatted($money->formatted());
+});
+
 test('converting money to a string returns the formatted string', function () {
     expect(
         (string) Money::fromDecimal(10.00, USD::class)