The importance of the GBP in the forex market is primarily due to the fact that it is one of the most widely traded currencies in the world. In fact, the GBP is used more often than any other currency in international trade.
Since the Great Britain Pound (GBP) has such a prominent place in the forex trading market, it’s important to be able to quickly convert any other currency to GBP in order to make trades.
For many reasons, it’s best to use an API, so you can make sure your numbers are as accurate as possible. We recommend you try out Exchangr since you can convert any of its 170+ currencies into GBP, and vice-versa.
Exchangr
Exchangr is a REST API that leverages the JSON data format to provide accurate currency exchange rates.
Exchangr’s forex API finds cross rates by connecting key currencies, in addition to giving common currency pairs. They go to great lengths to get accurate data from a range of reliable sources in order to cover every currency. As a result, you can rely on the Exchangr FX API to manage even the most complicated business requirements.
Exchangr is a REST API that leverages the JSON data format to provide consumers and companies with accurate currency exchange rates and conversions. They collect information from a variety of commercial forex data sources and banks. They then blend it using an algorithm before distributing it to customers. It gives data that is regularly updated at intervals ranging from 60 minutes to 60 seconds.
What kinds of currencies are there?
We provide 164 currencies and 8 cryptocurrencies. Their API gets its data from a number of well-known international exchange rate sources. As a result, they can supply the most up-to-date and accurate figures for 516 currency pairs.
Is it possible to change the base currency?
You can set any of the currencies using the API’s source parameter. Any given exchange rate data will be associated with that currency.
You may search for as many currencies as you like at the same time by using all 174 of their currencies as base currencies one at a time.
What currency data is provided by the API?
Depending on the API endpoint you use for your query, the Exchangr API will return or compute the most representative forex market rate available, which is frequently the “midpoint” value. The “mid” value will also be the most useful tool for your company’s finance department for accounting and invoicing financial estimations or planning, calculator and converter apps, and any other Exchangr forex data-powered apps.
It displays all of the exchange rates as currency pairs.
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Also published on Medium.