Are you looking to obtain forex rates easily? If so, you need to use an API!
Most people don’t think about foreign exchange at all, since they think it doesn’t affects them. Whether they’re doing business or looking for investment opportunities to doign something trivial like going on a vacation; they offent don’t pay attention to the volatility of their currency. However, knowing about foreign exchange can help you make better financial decisions. For example, understanding foreign exchange rates can help you decide which currency to trade when the market is at its prime.
The best way to guarantee this is by using a forex rates API to get live foreign exchange rates and currency conversions. By having this information at your fingertips, you’ll consider traveling somewhere with low rates for your vacation, or look for investment opportunities in countries with high interest rates.
Obtain Live Forex Rates Using This API
Currency exchange rates fluctuate on a daily basis; and it is prudent to be aware of the current state of currency exchange and conversions if you are planning a major transaction or investment. Fortunately, a currency conversion API can help you with this!
A forex rates API like Exchangr API can assit you in obtaining live foreign exchange rates easily. Exchangr is an API that uses JSON data to deliver both: real-time and historical foreign exchange rates, and currency conversion. This API collects data from a variety of financial providers, including financial institutions from all around the world. Hence, Exchangr API provides the most up-to-date and accurate rates for a total of 172 global currencies.
Furthermore, Exchangr API allows you to get the most up-to-date exchange rates for any of the 30.000 supported currency pairs, as well as historical values for a certain time period. Advanced capabilities such as single-amount conversions, currency change settings, and altering the source currency will also be available depending on your plan.
How To Obtain Live Foreign Exchange Rates
- First and foremost, register here. If you want to see how Exchangr works, you can create an account for free, and no credit card information is necessary. After you register, you will be issued your very own API key. Exchangr’s endpoints will be accessible with this one-of-a-kind combination of letters and digits. Once you have it, you will be ready to make API requests.
- Second, choose the currencies for which you’d want to receive rates or convert. You can specify if the rates you need have to be real-time rates or historical. Also, depending on your plan these rates will be uptaded in intervals ranging from 1 hour to 60 seconds.
- Third, send an API request. You can do so by following the instructions in the Exchangr documentation (read them here).
And that is all you have to do, the rest is up to Exchangr API. Let it work for a couple of seconds, and inmediately after you’ll receive the information you asked for. For more information about this API visit Exchangr website by clicking here.
Related post: Diversify Your Company’s Portfolios With A Market Data API
Also published on Medium.