Do you want to know what a foreign currency tracker API is and why is it useful? If so, keep reading!
The global economy is becoming more integrated all the time. As a result, it’s important for businesses to understand how foreign currencies affect their bottom line. If you sell goods or services internationally, you need to track foreign currencies and understand how they work. The same goes for anyone who wants to trade currencies or invest in foreign markets.
Overall, if you don’t have access to foreign exchange data; it’s like going into battle blindfolded: you don’t know what’s coming next or how to prepare for it. But with the right forex data API, you can gain access to all of the information that you need; without having to deal with complex software or expensive subscriptions.
This Application Programming Interface (API) collects foreign currency data from a variety of financial providers; and delivers it to you. Hence, it can be used to access real-time currency exchange rates and conversions, as well as historical market data, everywhere at any time.
Why Do You Need a Foreign Currency Tracker?
-If you’re an e-commerce business, tracking foreign currencies can help you convert prices automatically so customers can see how much they’ll have to pay in their local currency instantly.
-With this information at hand, you can also analyze historical market data to make better future financial decisions.
-Keep an eye on what’s going on. It helps you to keep track of the global market and react quickly to it changes. You may determine whether to purchase or sell foreign currencies as soon as they occur, and take advantage of the circumstance.
Which API Should You Use?
Since currency exchange rates fluctuate on a daily basis; it is wise to be aware of the current state of currency exchange if you are planning a major transaction or investment. Fortunately, Exchangr API can assist you with this! This utility is a currency exchange rates and conversions API that provides accurate forex information using JSON data.
Exchangr is REST foreign exchange API that provides accurate currency exchange rates and conversions using the JSON data format. It gives up-to-date and historical information on 172 different worldwide currencies, making it ideal for anyone that needs access to forex data. Its forex system is updated on a regular basis with fresh data from more than 15 reliable financial sources; ensuring that you always have the most accurate information!
How To Track Currencies With An API
-Create a user account for free here. After you register, you’ll be given a personal API key, which will give you access to Exchangr API endpoints.
-Select the currencies you wish to convert or obtain rates for.
-Finally, make the API request. Exchangr’s documentation may be of use at this point. By reading it you’ll understand how to make API requests, and learn about Exchangr’s setup, code references, and other useful subjects. You can read it here. And that’s it!
So, whether you’re an experienced trader or just getting started in the foreign exchange market; having rapid, easy and dependable access to the latest currency exchange rates may help you remain ahead of the competition. You can keep track on the currency exchange market with Exchangr API.
For more information go to https://www.getexchangr.com/
Related post: Learn About The Main Factors That Influence Foreign Exchange Rates
Also published on Medium.