What is a forex API?
A forex API is a piece of software that allows two applications to communicate with each other, transmitting data from one to the other. In this case, the two applications are the forex (foreign exchange) market and your own application. This means that you can create your own app with live-updating USD AUD conversion rates.
Why is USD AUD forex conversion so important?
When you’re dealing in the foreign exchange market, time is of the essence. It’s important to be up-to-date on information about all exchange rates, but especially those like USD AUD, that have large markets and will likely change quickly over time. If you don’t have access to real-time data about currency exchanges, then any calculations you make will be based on old information and might not reflect what.
The best way to get this information quickly and easily is through an API: a piece of software that will communicate with your application and transmit any changes in the exchange rate automatically.
Why should you use a forex API to get USD AUD rates?
Using an API is the easiest way to integrate live-updating information into any application you may be building or using in your business or personal life. We recommend you try out Exchangr.
Use Exchangr to get USD AUD conversion
Exchangr is a REST API that uses the JSON data format to deliver accurate currency exchange rates and conversions to consumers and businesses.
As a consequence, you can trust the Exchangr FX API to handle even the most complex business needs.
To use the Exchangr API, sign up for a free account and get your API key; no credit card is necessary. You can also join up with your Google account. Exchangr presently accepts 164 currencies as well as eight cryptocurrencies from customers all around the world. They get their data from a range of commercial currency data providers and institutes. They combine it using an algorithm before delivering it to clients. It provides data that is regularly updated at intervals ranging from 60 minutes to 60 seconds.
What types of FX data does the API provide?
The Exchangr API will return or compute the most representative forex market rate available, which is generally the “midpoint” figure, depending on the API endpoint you request for your query. The “mid” value will also be the most valuable tool for your company’s finance department for accounting and invoicing financial estimations or planning, calculator and converter applications, and any other Exchangr forex data-powered apps.
All of the exchange rates are displayed as currency pairs.
Related posts:
Tips To Make Foreign Exchange APIs Less Overwhelming
Also published on Medium.