Looking for alternatives to ExchangeRate-API? Here we will discuss some similar options that are the best options for 2022.
The exchange rate implies the prices of the different monetary units of the different countries. In this sense, the currency expresses the productivity and influence of the economy of that country in the world. Therefore, each country adopts different types of policies to regulate its currency. This implies a kind of limitation and control over the rates of the exchange currencies.
As we said, the state of the currency expresses the state of a country in the global economy. For this reason, its currency can be strong like the dollar, or weak like the Argentine peso. In this sense, different types of exchange regimes are adopted to contain or free the currency. This reflects the political situation of the country, for example, if there is total freedom to buy and sell foreign currency or if there are traps.
Types Of Currency Exchange Use
To begin with, obtaining convertibility information is something that concerns both investors and tourists, and economists. At first glance we can already see that when a person travels to another country and the first thing he does is go to buy local currency, he is already making a transaction that implies being aware of the exchange rate. The same is true when shopping abroad online. Obtaining currency information will help them plan a purchase or a trip and know how much local money to have.
Exchange rate information will be very useful to those who are thinking of developing new markets or strengthening existing ones. To ensure a good purchase or investment, it is necessary to pay close attention to past values and their fluctuation, while noting what factors contribute to changes in values. This way you will make smarter decisions when it comes to purchasing.
An API that provides exchange rate information will be useful to you as the end consumer. But even if you provide services to travelers, online shoppers or investors, or company owners, the API will be essential to provide a first-class service. With it, you can share with your audience all the information about currencies.
How does an API work?
An API allows to transmission of updated information in real-time at all times to other devices. It is software that through its “calls” and “responses” enables its introduction in the design of an app or web.
In this way, you can share particular information in an up-to-date way without having to manually update it all the time, since the API does it for you. In this case, we will look at three APIs that could be very beneficial in helping you with your business.
Exchange
This is the first option that we are going to recommend since it is very complete. It can be used in JSON, Python, PHP, and C# so it’s very easy to incorporate. It issues minute-by-minute data on all currencies around the world, where you can even move one currency to another without problems.
Get information from the world’s most trusted sources like the World Bank. With it, you will be able to access historical and fluctuation rates which will help you to monitor the behavior of the different currencies around the world.
CurrencyLayer
It provides a real-time JSON API for 168 global currencies. This Site is also gathered from numerous business sources and banks. It is also suitable for any application and computer language.
FCS
FCS is a FREE forex API that provides the most recent and past foreign exchange market as well as technical indicators. FCS API has been used in forex advertising to provide all necessary and relevant data. Forex is becoming more prominent than other trading systems.