A historical chart for currency exchange rates is a graph or chart that shows how the rate of one currency against another has changed over time. It can be used to predict future trends and make trading decisions.
Why is a historical chart for currency exchange rates useful?
Currency markets are open 24 hours a day from Sunday evening to Friday afternoon. A historical chart for currency exchange rates can show investors when the market is most likely to be moving in their favor, allowing them to trade at the most favorable times.
Also, a historical chart for currency exchange rates is useful because it allows you to see how much money you could have gotten if you had converted your money from one currency to another at various points in time. This can help you plan for the future, allowing you to predict what will happen if you convert your money now, and how much money you’ll have if you wait.
A historical chart for currency exchange rates also helps you adjust your expectations if the current value of one currency suddenly changes (which happens often).
Why should you use an API to get a historical chart for currency exchange rates?
Existing tools for generating historical charts for currency exchange rates were either difficult to implement, requiring large amounts of manual work, or did not offer adequate customization options. The API offered by Historical Charts For Currency Exchange Rates uses modern technology and offers greater flexibility while maintaining ease of use and access to up-to-date data.
To sum up, you should use an application programming interface to get a historical chart for currency exchange rates because they are faster and more accurate than other methods. They give account holders up-to-date information without the need to go on multiple websites or do extra work, which leads to less frustration and more time doing what you want.
We recommend you try out Exchangr.
Exchangr
Exchangr is a REST API that leverages the JSON data format to provide consumers and companies with accurate currency exchange rates and conversions.
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 even the most minor traded currencies. You may find a link to previous data coverage here. As a result, you can rely on the Exchangr FX API to manage even the most complicated business requirements.
To utilize the Exchangr API, create a free account and obtain your API key; no credit card is required. You can also use your Google account to sign up. The Exchangr API accepts 164 currencies and 8 cryptocurrencies from all around the world. 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.
Related posts:
Tips To Make Foreign Exchange APIs Less Overwhelming
Also published on Medium.