When it comes to finance and trade, the currency is a crucial component. Businesses dealing with foreign markets need to be knowledgeable about currencies and their quickly shifting values. Using some technology, such as Google exchange rate API, it is currently possible to conduct business with anybody, anywhere.
Thus, you need an exchange rate API that can convert and exchange currencies swiftly and simply, whether you are a single individual or an enterprise that regularly works with numerous financial markets worldwide.
What Is An Exchange Rate API?
The tools or programs that developers may include in an application or website to facilitate currency exchange are known as currency exchange APIs. It could also provide other features, like currency conversion.
The British Pound (GBP), US Dollar (USD), Euro, and other currencies may be readily converted into other currencies on this platform, allowing businesses and individuals to remain up to date with market values quickly.
APIs support various currencies and data sources. They also provide features that make the API simple to use, such as thorough documentation, a user-friendly dashboard, and support for several file formats – such as CSV, JSON, and XML – to return data.
Which APIs Are Good Alternatives to Google Exchange Rate API?
CurrencyLayer is a real-time JSON API for 168 global currencies. You can get accurate exchange rates and currency conversion for your company. REST APIs like CurrencyLayer is compatible with any programming language and application, and gathers data from banks and other commercial sources.
The data solution for simple integration, app compatibility, and optimal usage is in JSON format. Additionally, sophisticated capabilities like changing the source currency and criteria for currency conversion, converting specific amounts, statistical data, and more.
Get quick access to 168 global currencies, precious metals, and historical data going back 19 years. You can ensure encrypted and secure data streams by using the industry-standard HTTPS to connect to an API. After subscribing, you will have plenty of access to the documentation for the functionalities of the API.
You may monitor your API consumption monthly or daily, and receive alerts when it starts to decline. In addition, CurrencyLayer also powers global back offices, mobile apps, and currency converters.
Exchangerates is a real-time, historical, and intraday market data API that offers a simple, open-source REST API access that distributes JSON-formatted stock market data to users worldwide. In addition, you will receive up-to-date, precise, and authentic currency exchange rate information for thousands of different currencies.
With Abstract's currency conversion and forex API, you can get the current rates for 10,000+ pairings and 150+ currencies. In addition to the decades-old information at your disposal, you may access refreshed data every hour to a minute. Abstract API can perform well not just with money, but also with the most popular cryptocurrencies.
Scalability is the most reliable aspect of Abstract API, nevertheless. They are perfect for business use due to their remarkable speeds and consistent uptimes. Additionally, 256-bit SSL encryption ensures data security. Finally, you may use them for 5000 API queries without spending a dime.
Open Exchange Rates
Use the currency data API from Open Exchange Rates to power your innovative brands, businesses, and startups. For your business, you will receive an accurate and dependable exchange rate and its data.
The Open Exchange Rates community produces over 200 fully accessible extensions and modules for frameworks and languages. Due to its rapid, low-cost, and versatile API, many developers rely on it. In addition, it offers timely technical help and clear documentation while serving data in JSON format.
Fixer is a minimal and straightforward API for past and present foreign currency rates. It is frequently utilized due to its trustworthy datasets for real-time currency rates by SMBs, significant enterprises, and developers.
Every 60 seconds, 170 different international currencies' exchange rates are updated. The sources are reliable since they come from institutions, including the European Central Bank. Connection to the Fixer API uses Bank-grade 256-bit SSL encryption. The API can also be implemented quickly and easily because of clear code examples, simple API design, and comprehensive API documentation.
With the XE Currency Data API, get internationally dependable exchange rates for your company. Choose from various adaptable packages that suit your needs and the frequency and monthly API request volume you need.
To preserve accuracy, it uses more than 100 international sources. It also identifies flaws and constantly filters them out. Therefore, XE Currency Data is simple to incorporate into your current applications. It supports Java, PHP, Python, and NodeJS SDKs. For help with SDKs, code generators, and integration, you may also check Github.
What Is the Best Exchange API Available?
After looking at the options available for exchange APIs, it is safe to say that CurrencyLayer is the best currency exchange API available in the market.
You can easily show exchange rates in your applications with CurrencyLayer. Integrating it is extremely simple. There isn't a lot of coding required. It's smooth to use. Lastly, it has clear documentation. CurrencyLayer has the most excellent exchange rates API available online.