Currency plays a crucial function in the foreign exchange market and the realm of international finance by acting as a medium of exchange in transactions.
Businesses that deal with international markets need to be up to speed on currency exchange rates and their often moving values. It is now feasible to trade with anyone from anyplace using particular technologies.
So, whether you’re an individual or run a business that deals with a variety of global financial markets on a daily basis, you’ll need a tool that can convert and exchange currencies quickly and efficiently. It will assist you in running your business more efficiently.
APIs for currency exchange can assist you with this. They have a number of benefits, including:
- Accuracy
- Many currencies are supported.
- A large number of data sources
- Simple to use, yet with a high level of safety and performance
These technologies let businesses stay up to date on current rates and convert or exchange currencies with greater precision and speed.
This provides you with reliable statistics to aid in your decision-making while also saving you time and money on unnecessary tries. Our top picks for the finest currency APIs for your website or app are listed below.
1. Exchangr
Exchangr is a REST API that uses the JSON data format to deliver accurate currency exchange rates and conversions to consumers and businesses.
For diverse actions, the API includes five customizable endpoints. 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 supports 164 different currencies and 8 different cryptocurrencies from all over the world. The data is gathered from a number of commercial forex data sources and banks and combined algorithmically before being supplied to consumers. It provides data updates on a regular basis, with intervals ranging from 60 minutes to 60 seconds.
2. Xignite
The Xignite API delivers a wide range of worldwide currency data. Real-time forex rates, historical forex rates, forward rates (expiration, bid, mid, ask, spot rate), bars (open, low, high, average, volume), currency conversions, and minute-level ticks for currency pairs are all accessible via the API.
It has data for 170 different currencies, as well as other assets including Bitcoin, commodities, and options. The API collects data from major financial institutions throughout the world in order to deliver dependable and accurate statistics. As new quotations are received from market players, the data is updated in real time.
3. Currency Converter
Currency Converter is a straightforward API for converting one currency to another. The API provides the bare-bones functionality for online currency conversion. The API provides the bare-bones functionality for online currency conversion. It has endpoints for listing currencies, nations, and retrieving historical currency data for up to 365 days.
It accepts more than 150 different currencies. The currency values data is refreshed every 60 minutes in the free version of the API. The data in the commercial editions is updated every 15 minutes by default.
Also published on Medium.