As we are seeing, there are economies in the Asia-Pacific area that are growing a lot. This gives them an important place in the world economy and, therefore, in national currencies. In this post, we will talk about an API that will allow you to quickly obtain data and share it.
Japan is one of the center economies in Asia historically. It is a country of the future with a lot of technological development. In keeping with this, its currency, the yen, is the third most important currency in the world.
It is the most demanded in the foreign exchange market after the dollar and the euro. Like these last currencies, the yen is in different reserves of Central Banks around the world. It has grown in world reserves, at the cost of the US dollar weakening in said reserves. It is very likely that it will continue to grow in Europe and that its demand will increase soon.
On the other hand, the Asian giant issues the renminbi, which is the currency issued by the People’s Bank of China. The other name of this currency is the yuan which is the basic unit. Currently, the country rules with a monetary policy that tries to keep it stable. In this sense, to cushion its dependence on the foreign exchange market, the yuan is fixed based on several international currencies.
It is also one of the currencies that is currently growing the most in the federal reserves of various countries in the world, especially in Asia and Latin America. In addition, the yuan has its digital counterpart with the digital yuan which is a product of the People’s Bank of China and its conjunction with SWIFT.
Another Economies
Other important currencies of this continent are the Indonesian Rupiah. However, in some places in that country own rupees are used. It is one of the most important since it is one of the countries with the highest population load in the entire continent, which already implies a large circulation of currency.
In any case, it is a weak currency for what the foreign exchange market means. Another country with a large population on this continent is the Philippines, whose currency is the peso. This is one of the most undervalued currencies on the continent.
Use An API
Here we only gave four examples of Asia Pacific currencies. And just with these examples, you will see the variability and dynamism of the different types of currencies and economies of this continent. These examples serve to illustrate the economic dynamics and monetary behavior of the Asia Pacific countries.
If you want to invest in the foreign exchange market or assist people or companies that want to do so, it is necessary to resort to up-to-date information. Also, it would be very good to sophisticate your forex buying or selling if you can have all the factors that influence currency variability in your head. For this, you can use an API that assigns current and past information to be able to compare it.
An API is a programming interface. It incorprates easily into websites and applications. If you want to incorporate the most complete information on the foreign exchange market with a focus on the Asia Pacific, but with the possibility of comparing currencies from all over the world, we strongly recommend Exchangr.
Why Exchangr?
It is an API that sends information in real-time, with a frequency of 60 seconds, information on all currencies in the world. You can use it in countless programming languages like JSON, Python, PHP, and others. Also, you can start testing it with the free plan.