When it comes to banking and commerce, currency is a crucial component. Businesses that deal with foreign marketplaces require up-to-date knowledge on currencies and their quickly fluctuating values. Using certain technology, it is currently possible to trade with anybody from anywhere.
So, whether you’re a person or manage a company that works with numerous financial markets throughout the world on a regular basis, you’ll need a tool that can convert and exchange currencies swiftly and efficiently. It will help you operate your company more efficiently.
Currency exchange APIs can help you with that. They have several advantages, including:
- Accuracy
- Support for many currencies
- Extensive data sources
- Simple to operate
- High safety and performance
Businesses use these technologies to remain up to date on current rates and convert or exchange currencies with more precision and speed.
This gives you accurate data to help you make better judgments while also saving you time and money on unneeded attempts. Here are our top recommendations for the finest currency APIs for your website or app.
1. Exchangr
Exchangr is a REST API that leverages the JSON data format to provide consumers and organizations with accurate currency exchange rates and currency conversions.
The API has five customizable endpoints for fulfilling various activities. The live endpoint gets real-time exchange rates, the historical endpoint gets historical currency rates, the convert endpoint converts multiple currencies, the time-series endpoint gets exchange rates for a given period, and the fluctuation endpoint gets the change parameters for any currency.
The Exchangr API supports 164 Currencies and 8 Cryptocurrencies from across the world. Before being distributed to customers, the data is obtained from a variety of commercial forex data suppliers and banks and mixed algorithmically. It delivers data updates on a regular basis, ranging from every 60 minutes to every 60 seconds.
2. Fixer
Fixer is a lightweight and straightforward API that displays historical and current foreign exchange rates. Because of its dependable data sources for real-time currency rates, it is utilized by many SMBs, major organizations, and developers on a daily basis.
For 170 international currencies, the exchange rate data is updated every 60 seconds. Because the sources are from banks, including the European Central Bank and financial data suppliers, you may trust them. Your Fixer API connection is secured with bank-grade 256-bit SSL encryption. Furthermore, given the understandable code examples, simple API structure, and extensive API documentation, the API can be implemented in about 10 minutes.
3. Currencylayer
Currencylayer, a real-time JSON API for 168 international currencies, provides currency conversion and trustworthy exchange rates for your company. It gathers data from banks and commercial sources and may be used with any computer language or application.
For ease of integration, compatibility with many programs, and optimal use, the data solution is given in JSON format. Advanced features include currency switch, currency change parameters, single amount conversion, historical data, and more.
Also published on Medium.