Do you want to obtain foreign exchange data from African countries by using an API? If so, keep reading! Here you will learn how to do so.
Africa is a continent with 54 countries and over 1 billion people. Hence, it is ripe for growth and innovation; and is a market that investors should not ignore.
The main currencies of Africa are the Euro, which is used by 13 countries; and the US Dollar (USD), which is used by 19 countries. However, this does not limit the existence of national currencies and the fact that they have different exchange rates against the euro or dollar, or against other African national currencies.
The continent has seen an influx of FDI in recent years, with China and India putting money heavily in Africa. This trend will continue as African countries are seen as lucrative markets by foreign investors looking to diversify their portfolios.
African countries have been growing at a faster pace than other regions in the world, with many economies in Sub-Saharan Africa growing at rates above 5% per year. Actually, are the fastest growing in the world. This is why it is important to have a data source that will help you understand the economy of these specific countries.
To get real-time and historical forex data from all African countries, you may use an API that supports both synchronous and asynchronous calls. This way, you can choose the one that works best for your application. However, the task has its difficulties, since not all exchange services have interest or real data regarding exchange rates in various regions of Africa. So we recommend you use this API!
Which Is The Best Forex Data API To Use?
As you can see, the foreign exchange data from an API may allow you to start tracking the sprouding African markets; and make decisions about your finances by providing real-time; and historical information about African foreign currencies.
So, if you are currently looking for one, we recommend you start using Exchangr API. This API is a RESTful web service that provides currency conversion, historical data, and real-time exchange rates. It allows you to get JSON-format foreign exchange data from several reputable sources.
Exchangr API can be used to access the most up-to-date exchange rates for any of the 30.000 supported currency pairings, as well as historical values for a certain time period. You will also have access to advanced features such as single-amount conversions, currency change settings, and changing the source currency.
How To Obtain Forex Data Today?
First, create an account here; you can sign up for Exchangr API for free. By registering, you will receive an API key. Exchangr’s Endpoints may be accessed using this one-of-a-kind number and letter combination.
After that, you can choose the currencies you wish to convert or obtain rates for. The last step is to execute the API call. To do so, you can follow the API documentation.
It’s as simple as that; the rest is up to Exchangr API! Within seconds, you will have the information you require!
For more information, visit: https://www.getexchangr.com/
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Also published on Medium.