If you’re building a software application that needs to access historical forex rates, you can use a JSON API that provides the data you need.
What is a JSON API?
A JSON API is an application programming interface (API) that uses JavaScript Object Notation (JSON), a lightweight, human-readable data format. There are many different types of JSON APIs, including open-source and commercial databases, applications, or websites. The important thing is that there’s some kind of backend engine that allows you to access the data in the format provided by the API.
Why is a JSON API useful?
JSON APIs are useful for providing data in a specific format for applications that need it. You can get data from hundreds of different sources on the internet, including public and private databases, but if the application you’re building requires large amounts of reliable data in a particular format, it may be better to use an API instead. This way you don’t have to worry about finding the right source of data and then formatting it yourself—you’ll save time and energy by using an application designed specifically to provide this type of information.
What are forex rates?
Forex rates are the exchange rate of one currency for another. Forex rates change often and constantly, so historical forex rates give you access to data about past changes in exchange rates for a given time period.
A JSON API for historical forex rates can be useful if you want to get information about a specific rate on a given date and use it for your own purposes (e.g., for an app that converts currencies). That’s why we recommend you try out Exchangr, the most complete forex API out there.
Use Exchangr to get Forex rates
Exchangr is a REST API that leverages the JSON data format to provide consumers and companies with accurate currency exchange rates and conversions. As a result, you can rely on the Exchangr FX API to manage even the most complicated business requirements.
To utilize the Exchangr API, create a free account and obtain your API key; no credit card is required. You can also use your Google account to sign up. Exchangr now accepts 164 currencies and eight cryptocurrencies from consumers worldwide. They obtain their information from a variety of commercial currency data sources and organizations. Before distributing it to clients, they blend it using an algorithm. It delivers data that is updated on a regular basis at intervals ranging from 60 minutes to 60 seconds.
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Tips To Make Foreign Exchange APIs Less Overwhelming
Also published on Medium.