Currently, many European central banks are choosing to increase their reserves in the Japanese yen. With this API that sends currency conversion data, you will be able to evaluate the euro-yen relationship. This is helpful to assess the state of economies and when to buy or sell.
Japan is one of the most important economies in the world due to the strategic weight of its production. It has one of the largest shares in the markets for electrical and electronic products, as well as an enormous cultural heritage.
Its national currency is the third currency with more international weight. Currently, many Central Banks around the world are reducing their reserves in dollars due to the restrictive policy of the Fed. On the other side, they are increasing their reserves in other currencies, including the Japanese Yen. Where the consumption of this currency has increased the most is clearly in the EuroZone.
After the dollar, the second most important currency is the euro. Since 2002 it began to circulate and nowadays 19 countries use it. These coexist in the European Union. The financial entity of this body, the European Central Bank, issues the European currency.
In other words, this currency circulate in both by countries that are strategic powers such as Germany or France, but also by countries with less solid economies such as Greece. To use the euro as a national currency, it is necessary to meet a series of requirements. They are detailed by the European body. It is one of the currencies that circulate the most concerning the population density that uses it.
Use An API
As you can see, we are talking about two very important international currencies. It is for this reason that when there are events that impact the values of currencies, they are affected. And also, as we mentioned earlier because of the issue of reserves, which is also a very important factor in the global debt crisis, the relationship between the yen and the euro is very dynamic.
If you wish to engage in the forex market or assist people or businesses that want to do so, you must have access to current data. To do this, you may utilize an API that provides historical and real-time data to contrast.
The software integrates seamlessly with websites and applications. We strongly suggest Exchangr if you want to include the most detailed data on the foreign currency, with an emphasis on the euro and the yen but the ability to examine currencies from all across the globe.
About Exchangr
It’s a currency conversion API. This API will provide you with all the information to become a professional investor or seller. It is highly preferred by application and website developers because it can be used in numerous programming codes. It can be used in Ruby, C#, in PHP, JSON, and Python among others.
With this API you will be able to explore new exploitable markets. You will get all the information on buying and selling currencies both in cash and in the future. If you are a company that assists investors by sharing this information, you can guarantee an excellent customer experience by providing transparent and reliable information.