In this post, we’ll talk about the Swiss franc situation. On the other hand, we want to help traders and developers. For this reason, we’ll recommend a free exchange rates API that contains swiss franc spot prices.
The franc is the official currency of Switzerland. Although it is also legal tender in other countries where it circulates alongside the euro. The Swiss National Bank and the Federal Swissmint are the agencies that issue both banknotes and coins, respectively. In recent decades, the Swiss franc is the only “franc” circulating in Europe.
Switzerland being a very self-sufficient economy and one of the places with the best quality of life in the world is not common for it to suffer from inflation. However, in the last month of 2022, Switzerland saw little percentage increase in inflation after 14 years.
This behavior is the product of the changes in the FED’s policy that also affected the euro. This caused the Swiss franc to gain 0.3% against the euro. However, as soon as this situation ended, the Swiss franc returned to its normal price.
As we mentioned before, concerning the dollar, the franc rose 0.5%. This is closely related to the weakening of dollar reserves in world Central Banks, which in turn are increasing their reserves in other types of currencies, among which is the Swiss franc.
Use An API
As you can see, the Swiss franc is undergoing some changes. However, this cannot be separated from changes in other world currencies. In addition, you can see how the Swiss currency shows the economic changes both internal and external to the country, as it represents the current and surprising inflation after so many years.
If you want to invest in the forex market or assist people who want to do so, it is crucial to use an API. This is software whose answers are incorporated into digital media such as websites or applications. There the API will constantly update information. In this case, you need an API that provides real-time prices for the Swiss franc but also for other currencies so you can compare.
In this sense, you can use Exchangr, which is an API with which you can see the spot behavior of the Swiss franc prices from your preferred currency. You can compare it with the situation of the euro, the US dollar, the Japanese yen, and 170 other options.
Why Exchangr?
So far we have seen some of its benefits and yet there is much more to tell. Exchangr will not only allow you to examine current Swiss franc rates but also their historical correlation and fluctuation over time.
In this way, you will be able to better analyze the factors that influence the price of both this currency and others. That is to say, obtaining this information will help you to professionalize yourself in the participation in the world currency market. It’s a currency conversion API.
Also, it is an API that many programmers prefer. This is not only because of its exhaustive information and documentation to incorporate. It’s also because responses can be used in JSON as well as in Python and PHP. It also contains other languages like Ruby and C#.