Forex rates are the exchange rates between two currencies. The USD JPY forex rates are important because they affect the prices of goods and services that are traded between the United States and Japan. They are also important because it affects how much money you can send to friends or family living overseas. It also affects how much money you can get when you go to another country for work.
The USD JPY pair is important for a number of reasons:
- The currency pair is the most actively traded in the world.
- It’s traded in both directions, it’s useful as an indicator of risk appetite and financial market sentiment.
If you use an API with a WordPress plugin to get USD JPY forex rates, you can receive information about:
- changes to trade volume
- open positions
- the profit or loss of any given trade throughout your day.
You should use an API with a WordPress plugin because it is faster and more accurate than other methods. Some businesses may use an automated plugin or API to get USD JPY forex rates. This allows them to track changes in these rates in real-time and adjust their strategies accordingly.
Why should you use a WordPress forex plugin to convert USD-JPY?
Because WordPress lacks this capability, adopting a plugin will save you time and money.
You want people from all around the world to visit your website. You’d also like to offer goods and services to those same individuals, but you’re not sure how to manage currency conversion because there are dozens of currencies in use throughout the world. A currency conversion plugin allows you to show the currency of any nation on your page, letting clients know how much their purchase will cost them in their own currency.
The plugin is intended to assist users who want currency conversion rates from various nations within WordPress sites. This makes the template perfect for usage by firms that wish to display conversion rates in real-time since they can swap them out whenever they want.
So, which API should you use? We strongly advise you to use Exchangr’s plugin.
Use Exchangr to get forex rates
Exchangr is a REST API that uses the JSON data format to deliver accurate currency exchange rates and conversions to consumers and businesses.
There are five customizable endpoints in the API for various operations. The live endpoint returns real-time exchange rates, the historical endpoint returns historical currency rates, the convert endpoint converts multiple currencies, the time-series endpoint returns exchange rates over a specified time period, and the fluctuation endpoint returns change parameters for any currency.
The Exchangr API now accepts 164 currencies and 8 cryptocurrencies from all around the world. The data is acquired from a number of commercial forex data sources and banks and mixed algorithmically before being supplied to clients. It periodically updates data at periods ranging from 60 minutes to 60 seconds.
Related posts:
Tips To Make Foreign Exchange APIs Less Overwhelming
Also published on Medium.