Are you looking for a way to get Forex data? Well, if you are a developer, you will surely be very happy to know that this forex rates API will meet your objectives. Hopefully, this post will give you more information about this system and its features! Don’t forget to read it!
Forex, also known as the foreign exchange market, is the conversion of one currency to another. It is one of the most active markets in the world, with individuals, companies and banks carrying out a daily trading volume of $6.6 trillion. A large number of operations are carried out for practical reasons, but the vast majority of currency conversions are carried out by investors for profit. The number of currencies converted on a daily basis can make the price movements of some of them extremely volatile, a factor that should be taken into account before you start trading forex.
A forex pair is a combination of two currencies that are traded against each other. There are hundreds of different combinations you can choose from, but some of the most popular include the Euro against the US dollar (EUR/USD), the US dollar against the Japanese yen (USD/JPY), and the British pound against the US dollar. (GBP/USD). The base currency is always equal to one, while the quote currency is equal to the current quote price of the pair, which shows how many quote currencies it will cost to buy a base currency. For example, 1 euro is equal to 1.05 US dollars.
However, as we explained above, currency prices can fluctuate or change. A few months ago, 1 dollar was worth more than 1 euro. Therefore, it is important to be updated with the latest news. We highly recommend using Get Exchangr and all the benefits it offers.
Get Exchangr is the best forex rates API for developers in 2023!
2023 is about to start and you should make sure you do it using the best digital tool of all, Get Exchangr! Thanks to this API and the benefits it offers, you will be able to see the rates of up to 172 currencies from around the world. Famous international currencies such as the dollar, the euro, and the Chinese yuan, but also currencies from countries such as Mexico, Indonesia, India, and Bangladesh, among others currencies. You can see the available currencies in the list of symbols. You will find that option in the “Supported Exchange & Currencies” button, available at the bottom of the web page. For example, the symbol for the US Dollar is USD and the symbol for the Euro is EUR.
Currently, there are 8 endpoints available. Some of these are the Supported Symbols Endpoint, Latest Rates Endpoint, and Historical Rates Endpoint, among others. For example, the last one we named has the function of searching for historical rates by appending a date (format YYYY-MM-DD) to the base URL. Historical rates are available for most currencies since August 2021. In this way, you will be able to analyze the current market in a more efficient way.
You will find all this information available within the API documentation, where you will find API structure, methods, potential errors, and code examples. If for any reason, you find something that is not answered within that instruction guide, contact the customer support team and they will be happy to help you! Use Get Exchangr!
Also published on Medium.