Are you looking for an API that provides Forex Market Data? If the answer is yes, you are in the right place!
As you may know, an exchange rate, also known as a foreign exchange rate (forex rate), is the rate at which one currency can be exchanged for another. It is determined in the foreign exchange market; which is open to a wide range of different types of buyers and sellers, and where currency trading takes place 24 hours per day.
What is the Forex Market?
So, the forex market is a huge market that deals with buying and selling of currencies on a daily basis. In this market, currencies are traded through brokers and banks as well as exchanges like NYSE (New York Stock Exchange); or NASDAQ (National Association of Securities Dealers Automated Quotations). The value of a currency changes every minute because it depends upon factors such as inflation rate, interest rates, economic growth rates etc.; which are subject to change constantly. This makes it essential for people who trade in foreign exchange markets to know about exchange rates; so that they can make profits by buying low priced currencies and selling them when they go up in value.
That begin the case, if you are among those people, and you are looking for a way to access forex market data; we have the perfect API for you!
Why you should choose Exchangr API?
Exchangr API offers a free service that allows you to convert one currency into another; as well as obtain currency rates. It provides real-time data about world markets and their currencies, allowing users to track foreign exchange rates and obtain historical data on past transactions. The API provides developers, traders and businesses with access to over 170 currencies from around the world in JSON format. If you add them together, you’ll have over 30.000 currency pairings!
This is an API that provides real-time data on foreign exchange rates. You can also use it to check up on historical rates and compare them with current rates. In addition, Exchangr API may be the answer you’re searching for if you want to include currency conversion and foreign exchange rates into your website without having to code them.
We are talking about an online service that provides users with real-time data from numerous forex sources around the globe, so they can track their investments or trades more easily and accurately than ever before!
Is Exchangr Easy-to-Use?
As long as you read carefully its Documentation, yes it absolutely is! Exchangr API provides you with a comprehensive Documentation (click here) where you can learn how to execute API requests, how to use this amazing API, its structure, possible errors, code examples (such as PHP, Javascript, Python), and more! Once you have read this information, you will be all set to use Exchangr API in no time, here is how:
First of all, register here. It will just take a minute of your time, and you will not need a credit card. After that, you will be provided with an API key. You will use it in every request to gain access to Exchangr API endpoints. Then, you have to select the currencies for which you wish to see rates or conversions. And last but not least, execute the API request. That’s pretty much it!
Once you are done, wait a few seconds for Exchangr to give all of the information you requested!
And just like that, you will have access to forex market data at any time! Use Exchangr API to be up-to-date with everything that is happening within this global market!
Related post: Is There An Affordable API for Currency Conversion?
Also published on Medium.