A constant question investors have is how to convert from euro to dollar and vice versa in a quick and simple manner. There are many tools one can use for this such as Google. However, the problem is that forex prices change constantly and different websites give you different values. This is why investing in a forex API to convert from euro to dollar is a great idea.
Forex or foreign exchange markets operate around the world with different currencies being used in each country or geographical region. The value of one currency is compared to another to see what real-time amount one currency actually equals in another using live market rates. The forex API will directly make conversions for you so you don’t have to do the math yourself or wait for rates on certain websites if you are more of an impatient kind of person who instantly wants their answer.
What is an application programming interface (API)?
If you’re reading this, there’s a good chance you’ve heard or seen the acronym API before. An API (Application Programming Interface) is a type of programming interface. It’s a technology that gives third-party programmers access to data so that they may create apps. There are a number of well-known firms that provide their currency rates via APIs. These enable you to use them as part of your currency exchange rate application.
Forex rates are the present and future exchange values for various currencies. You may quickly access the most up-to-date exchange rate data using a currency rates API. In the long term, this will assist you in optimizing your transactions.
What are the benefits of using Exchangr?
Exchangr is a REST API that uses the JSON data format to deliver accurate currency exchange rates and conversions to consumers and businesses.
In short, the API provides five endpoints that may be customized for different operations.
- The live endpoint displays current currency rates.
- Historical currency rates are the historical endpoint.
- Multiple currencies are supported via the convert endpoint.
- Over a certain time period, the time-series endpoint exchange rates
- For every currency, the fluctuation endpoint returns change parameters.
The Exchangr API accepts 164 currencies from all around the world, as well as 8 cryptocurrencies. They combine data from a number of commercial forex data providers and institutions using an algorithm. They do, however, update the data on a frequent basis, with intervals ranging from 60 minutes to 60 seconds.
Are you ready to convert Euro to Dollar?
As a result, the Exchangr REST API endpoint has a variety of currency information. You can use this in any programming language and on any platform. Here’s an example of how you can go about doing it. It demonstrates how to convert any live currency into USD, GBP, or Euro. The Exchangr REST API may be used in scripting, online, and desktop applications.
The result will look like this:
{"data":{"success":true,"timestamp":1644247980,"date":"2022-02-07","base":"EUR","rates":{"USD":1.1443546126073547}}}
You may also utilize the free tier on Exchangr. If you want more API calls per month, we strongly advise you to upgrade your membership level. You may also reach out to them for a more personalized solution. We can’t wait to see what you can do with a Forex API!
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Get Free Forex Rates Using An API
Also published on Medium.