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How Does A Currency Converter Work?

Have you ever wondered how does a currency converter work? If so, you are in luck! Here we tell you how

A currency converter is a tool that allows you to convert one currency into another. For instance, the most common use of a currency converter is to convert US dollars (USD) into British pounds (GBP). The first thing to understand about currency converters is that they work by using an API (application programming interface). The API is an online service that can offer real-time currency conversion and can also allow you to access historical data.

What is a Currency Conversion API?

A currency conversion API is software that allows companies to get exchange rates from one or more currencies into their system. The API will typically offer real-time data as well as historical data, so businesses can track changes in exchange rates over time.

There are many different providers of currency conversion APIs and they each have different features and benefits. Some offer more than 100 currencies, while others only offer a few. Some also have multiple pricing models, including per-transaction fees or monthly subscription fees. That is why, to make it easier, we have investigated which currency conversion API offers the best deal, and we have come up with this one:

Financial data analysis graph showing global market trends. Selective focus. Horizontal composition with copy space.

Exchangr API is what you are looking for

Exchangr is a forex API that employs JSON data to give accurate foreign exchange rates and currency conversion. This tool delivers precise and dependable currency data obtained from a variety of respected financial sources. That is how it provides forex data for 172 international currencies, which adds up to 30.000 currency pairs!

It can happen that, if you have an international business, you want to be certain that your consumers do not incur any surprise expenses while doing business with you on another continent. We understand this situation, and that is why we think Exchangr is the best solution. That is because, this API may be quickly incorporated into your website without the need for scripting thanks to its Drupal Module and WordPress Plugin. Exchangr allows you to dynamically adjust foreign exchange rates and currency conversions in this manner. So, before making a purchase, your consumers will always know precisely how much they will spend.

Additionally, this Forex API includes a number of sophisticated capabilities, such as historical data, conversion of single amounts, switching of the Source Currency, currency change settings, and more!

What to do if you have questions about Exchangr API

If you have any questions concerning Exchangr’s API, you can :

  • Visit the Frequently Asked Questions page here. There you will find answers to the following questions: General Questions; Data and Sources; API access and Features; and Plans, Pricing, and Payment. If your questions is one of those, you will have it solved in no time!
  • However, if you didn’t get the answer you were looking for, you can contact Exchangr’s customer service directly! You may send them an e-mail or use the contact form available on the page to talk to them about the issue you are having. They will respond as soon as possible and fix your problem!

Besides, if you are wondering about how safe this tool is, Exchangr API provides Bank-Level security. This means your connection to Exchangr’s endpoints is encrypted with bank-grade 256-bit SSL. That is why, the Exchangr API is widely utilized to power financial dashboards, smartphone apps, and back-office systems. It’s quite secure and dependable!

As you can see, you don’t have to worry about anything when it comes to using Exchangr API. Get going with it and learn more about the forex world!

Related post: How Companies Use Foreign Exchange Rates To Ensure Profits


Also published on Medium.

Published inAppsApps, technologyCryptocurrenciesE-commerceFintechStartupsTechnology

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