10 Reliable Free Currency APIs For Your Business

08 June 2023

In today’s globalized economy, businesses are constantly engaged in international transactions and dealing with multiple currencies.

Accessing accurate and up-to-date currency exchange rates is crucial for seamless financial operations, informed decision-making, and ensuring the accuracy of financial records. This is where currency APIs come into play.

Currency converter API (aka. exchange rate API) enable businesses to retrieve real-time exchange rates and perform currency conversions effortlessly. They provide a direct and reliable channel for accessing currency data. Hence, eliminating the need for manual data collection and ensuring the accuracy and timeliness of information.

Why is reliable currency data crucial for businesses? Accurate currency information is vital for various financial activities, including e-commerce, international trade, travel and hospitality, investment analysis, accounting, and risk management. It enables businesses to calculate product prices, manage inventory costs, track revenue and expenses, and evaluate profitability across different markets.

However, with numerous currency APIs available, it becomes essential to identify reliable data sources that suit your business requirements. To help you navigate the options, we have curated a list of 10 trustworthy and free currency APIs that offer reliable and accurate exchange rate data. Let’s learn about them.

What Is A Currency Converter API?

A Currency API Convertor allows applications to retrieve real-time or historical currency exchange rates, perform currency conversions, and access other currency-related data. It acts as a bridge between different software systems, enabling seamless integration and communication. Let’s read about some of the most popular currency APIs available today.

What Are the Ten Best Currency APIs Available In the Market Today?

Here are the ten most reliable currency APIs.

Fixer.io

Fixer API is a popular currency API that provides real-time and historical exchange rates for over 170 currencies. This API comes with 6+ years of experience and rock-solid data sources, making it a reliable API. As a result, thousands of developers trust this API worldwide.

It offers reliable data retrieval through a RESTful API and supports multiple integration options. Fixer API offers free and paid plans, with pricing details available on their website, catering to businesses of all sizes.

Currencylayer

Currencylayer API is a popular choice for businesses seeking reliable currency data. With access to real-time exchange rates for 168 currencies, it offers features like historical rates, time-series data, and conversion capabilities. You can try these API endpoints available on their website.

While it offers a free plan with limited features, its premium plans provide more comprehensive options tailored to specific business needs. Pricing starts from $14.99 and goes up to $99.99. There is also a custom plan for users.

Exchange Rates API

Exchange Rates API is a reliable currency API that provides access to real-time and historical exchange rates for over 200 currencies. Moreover, the API gives 250 free requests monthly. It is a simple, quick, and reliable API with pricing starting from $9.99. This API uses over 15 exchange rate sources to bring accurate data for the users.

Open Exchange Rates

Open Exchange Rates is a popular currency API provider offering accurate and up-to-date exchange rates for over 200 digital currencies. With various integration options, it enables seamless data retrieval and currency conversion.

Businesses like Shopify and Etsy also benefit largely from the Open Exchange Rates API. The pricing starts from $12 per month. You can also choose the unlimited plan that costs $97 per month.

XE

XE API is a widely trusted currency API that offers real-time exchange rates and historical data for over 210 currencies. Its easy integration allows businesses to access reliable currency data for accurate conversions and financial operations. Pricing for XE API can be found on their website, accommodating different business needs. However, this API is more expensive than other available options. Businesses like Vistaprint and Shopify also trust this API.

Currency API

Currency API offers a robust set of features supporting 170+ currencies globally. The API gives updated results after 60 seconds. This simple and reliable API comes with 300 free credits per month. The prices range between $9.99 and $74.99 per month. You can also get a custom plan.

IBAN

IBAN’s Forex Reference Suite is a leading currency conversion API in 2023. It sources its data from reputable central banks as well as trusted providers, ensuring the reliability of the information.

This API consistently refreshes the currency rates every 10 minutes, offering timely and accurate updates. Access to over 154 currencies enables users to obtain the latest conversions accurately reflecting dynamic market fluctuations.

OANDA

The OANDA currency converter API allows users to access a comprehensive collection of past data spanning over three decades, encompassing over 200 different commodities, currencies, as well as invaluable metals.

This API caters to various professionals, including accountants, auditors, hedge fund managers, and also treasurers. Its primary objective is to deliver precise exchange rates that meet strict financial compliance standards.

Currency Converter API

Catering to developers of all proficiency levels, this API provides a currency API with three options: a free version, a prepaid service, and a premium solution. The unpaid version, as well as the prepaid service, cater to companies with lower request volumes. In contrast, the payable service is geared towards individuals seeking a robust and ready-to-use currency API for production purposes.

Exchangerate.host API

When you are searching for an API that is free and has a small resource footprint, it provides real-time and past exchange rates for foreign currencies and cryptocurrencies. The API guarantees an uptime of 99.99% and includes historical data spanning two decades.

Conclusion

Access to reliable free currency APIs is a game-changer for businesses operating in a global economy. These APIs provide accurate and up-to-date currency exchange rates. Hence, allowing businesses to streamline financial processes, make informed decisions, and ensure the accuracy of their international transactions.

The ten reliable free currency APIs mentioned in this blog offer a range of features and data that cater to different business needs. By leveraging these APIs, businesses can reduce errors, save time and resources, enhance customer satisfaction, and gain a competitive edge in the global marketplace.

So, take advantage of these powerful tools and unlock the potential of seamless currency data integration for your business’s success.

FAQs

Is There a Free Currency API?

Several free currency APIs, such as Fixer, Open Exchange Rates, ExchangeRate-API, and CurrencyLayer, are available.

What Is the Free Web Service for Currency Conversion?

A popular free web service for currency conversion is XE.com, offering accurate and up-to-date exchange rates.

What Is the API for Currency Conversion Rates?

The API for currency conversion rates provides real-time or historical exchange rates for seamless currency conversions.

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Arnab

Arnab is a professional blogger, having an enormous interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, He carries out sharing sentient blogs.

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The Credit Score Reset: How It Shapes Your Financial Future

Before you even start to know about credit score reset, first it is very necessary to understand why it actually matters. A significant part of your financial health is dependable on your overall credit score. So, a low credit score can be an immense amount of stress. A poor credit score can eventually limit your financial options. But how does this low credit score happen? Well, if you miss payments, have high debts, or even lack a credit history, it leads to a bad credit score. Now, if you are someone with a low credit score, then you may have to struggle a lot just to get a loan approval. You may also find difficulties in securing a reasonable interest rate or worse? Renting a house. Rebuilding a credit score can be a difficult path. The process may feel a little daunting, but some easy and comprehensive steps can help you get in credit score reset. First, Let’s See! How Does The Credit Score Affect You? Let’s say you are willing to borrow $200,000, which will be in the form of a fixed rate thirty years of mortgage. Now, if you have a credit score in the highest category, let’s say 760-850. In that case, the lender may charge you around 3.307 percent interest for the loan. So, you will be expected to make a monthly payment of around $877. Now, let’s say your credit score is very low. Somewhere around 630 to 639. die to the low credit score; the lenders may charge you 4.869 percent, amd you will have to pay around $1061 in a month. So, as you can see, due to the low credit score, you are actually going to pay $184 more than the mortgage. Just think about the things that you could do with that extra amount of money. I hope by now you have understood why it is necessary to have a credit score or a credit score reset. Steps To Achieve The Credit Score Reset Most of us want to build financial stability, but not all of us know how to get there. If you’re hoping to reset your financial well-being, consider resetting your credit score. While it can be a challenge to stay on top of it, improving your credit score is always going to be good for your financial health. So, here are some tips to help you do just that. Take a look: Stay on top of your credit report. If you want to be confident that you’re making progress and avoiding credit score mistakes, a credit report can help you stay on top of things. Some sites offer free credit reports on a regular basis so that you can easily see areas where you could improve or see areas of progress. If you’re someone who is working hard to improve your credit and get to where you want to be with financial stability, a credit report is a must-have. Pay off your credit debt. If you have credit card debt but want to improve your overall credit score, make a plan to fix this. With the best budgeting software, you can more easily see your total income. You can even check where your money is going and how you can start making more significant payments on your debt. The sooner you pay off your credit card debt, the better it can be for you and your attempts at getting a better credit score. While you’re working hard on paying off credit card debt, try to avoid getting into any new credit card debt. It may take practice to not reach for your credit card but the progress you make with your finances will be more than worth it. Smartly shop for loans. If you do need to take out new loans, take your time when researching options. Be careful about those loans that could be impacting your overall credit score and charging high interest rates. If you have a decent credit score right now, you should be able to get a decent rate. However, be careful. There can be hidden fees and rates you weren’t expecting if you don’t take the time to read the fine print. Before ever taking out a loan, consider the pros and cons so that you don’t unnecessarily commit to paying off new debt. Spend less If you’re having a hard time paying off your debt, it could be because you’re overspending in other ways. You can use an expense tracking app to help you see ways where you could be overspending and unnecessarily spending your money. This may look like unused subscriptions or random charges on things that you didn’t remember buying. It could help you see ways you spend money. You don’t need to if you simply switched up your habits (such as cooking meals at home versus ordering DoorDash). Spending less to get ahead is more than worth the effort it may take you. Consolidate your debt There’s a way to pay off your debt in one shot when it’s spread all over. That’s with a debt consolidation loan. While you’ll still need to pay off your debt, it will be in one payment at a time, making it easier for you to keep up with it. You definitely want to take your time when choosing this type of loan. One with little to no interest would be essential to consider. Still, it could make it easier for you to plan for a quicker debt payoff, which would significantly impact your credit score. How To Determine Your Credit Score? So, how exactly do the credit bureaus determine the credit score? Well, Fair Issac Corporation, or the FICO, has come up with a fantastic scoring system for the three credit bureaus while considering the following 5 points: ComponentComponent weightNew credit (inquiries)10%Type of credit10%Length of credit history15%How much you owe30%35%35% In Conclusion If you’re ready to improve your credit score, consider these tips to help you get your financial well-being where you want to be. The better your credit score, the easier it will be to make monetary gains. Read Also: How To Use An SBA Loan For Business Purchase Lining up for a Loan – How to Secure a Good Loan 6 Loan Mistakes Every Business Owner Must Avoid

Using Short-Term Loans to Help Rebuild Your Credit Score

Life in America is difficult enough without someone having to deal with credit issues. A low credit score usually has a profound effect on the choices people make and how they may have to live their lives. Make use of short-term loans to improve your credit score. No matter what kind of financial difficulties you may find yourself dealing with, nothing is ever etched in stone. Even bankruptcy comes with time constraints that make certain you will get a second chance. The truth is there are ways someone with a bad credit score can actively participate in fixing their own credit score. The discussion below will discuss how short-term loans can be used by borrowers to help rebuild their credit scores. Different Ways Short Term loans can improve Your Credit Score Are As Follows:- There are multiple ways Short term loans can help you to improve your credit score. In this article, you will get the complete details of it. The Stigma of Bankruptcy: When someone is forced into bankruptcy to protect certain assets and their overall well-being, there's a price that has to be paid in the eyes of the credit market. Lenders don't like to be left holding the bag. The ultimate penalty is a substandard credit score, which subsequently makes it very difficult for the individual to borrow any kind of money for a period of time, usually not to exceed 10 years. What everyone has to remember is that poor credit performance is a historical perspective on the borrower's past behavior. Based on historical facts, potential lenders can rightfully assume the individual is a poor credit risk. The good news is history is a constantly evolving notion that gets rewritten every day. Using Short Term Debt to Rebuild One's Credit Score: If someone wants to rebuild their credit score, they have to convert bad financial behaviors into good financial behaviors. No matter how low someone's credit score might get, it's an objective rating based on certain criteria. As such, it can improve just as easily as it can fall apart. As you contemplate how to repair and rebuild your credit, you need to be aware that the only way to increase your rating is by strictly adhering to all future obligations. To that end, there's an interesting strategy you can employ to speed up the process. First, it's duly noted it is going to be difficult for you to secure new loans. Your credit score ratios and payment profile will interfere with the approval process. However, it's worth the effort for you to do whatever's necessary to establish short term debt with manageable terms. Initially, you might have to swallow high-interest rates and lender-friendly terms to secure a credit card, title loan or whatever other kinds of loan you can get. Once you have the first short-term loan in place, your credit score might take a small dip. However, your credit score will eventually start increasing as you make your payments on time. At some point, you can pay off that loan early and followup by securing a new loan. As you continue abiding by your agreements and perhaps exceeding expectations, your credit score with pick up momentum to the upside. Eventually, your bad credit history will fade into the past, being replaced by new credit history that supports the fact you are again becoming a worthy risk. How well does this approach work? Bankruptcy stays on your record for approximately 10 years. If you can represent to a succession of lenders that the past is the past and you are now able to handle your responsibilities, that bankruptcy will lose significance in the eyes of many lenders. Read Also: 5 Smart Ways To Boost Your Credit Score 7 Simple Tips To Pay Off Your Loans Faster Are Payday Loans Really As Bad As People Say? Title Loan Requirements: What You Do And Don’t Need

HOW TO EXCHANGE BITCOINS AND OTHER COINS ON BINARYX?

Binaryx is one of the best digital asset trading platforms that has emerged in the last few years. It offers a number of simple, progressive, and functional solutions for everybody who wants to exchange bitcoins or buy and sell digital and fiat currency. The cryptocurrency exchange was created in 2019, with headquarters in Tallinn. It is authorized by law and has a European legal license for trading and other crypto operations. The scalable and intuitive interface of the trading and exchange modules delivers convenience for every user, who can exchange bitcoins or other assets from the comfort of their home or office. The Key Features Of The Binaryx Cryptocurrency Exchange Often, the bitcoin and the forex traders can not find an authentic platform to exchange Bitcoin. The cryptocurrency as the platform’s authentication and trustworthiness makes the platform unique and reliable. While you are doing the cryptocurrency exchange, the requirements of the authentic platform are high. When you are doing transactions on many types of cryptocurrency, it is quite absurd that you are going to use individual platforms for the individual types of cryptocurrency. The Binaryx is the all square platform. Binaryx suits both novice traders and savvy investors. Go to https://www.binaryx.com and start making money on trading and exchange right now! The project’s main idea is to implement a trading platform for customers who want to exchange money for bitcoins or sell and buy digital assets, regardless of their experience or expertise. This is a comprehensive project with a smooth-running ecosystem incorporating trading services, educational products, and opportunities for making money on crypto skills. The cryptocurrency exchange offers a range of useful tools and provides broad functionality. Platform users appreciate a user-friendly website, profitable trading terms, professional support, high security, and extensive functionality. Binaryx means good trading limits, low commissions, minimum registration requirements, and the availability of the exchange bitcoins process for everyone. The developers of the cryptocurrency exchange, inter alia, are constantly working on improving the current offers to provide the best solutions to exchange bitcoins and more. Step-By-Step Guide: How To Sell And Exchange Money For Bitcoins Are you a beginner in cryptocurrency trading? Take a look at the step-by-step guide to perform the cryptocurrency exchange in the Binaryx. This platform is quite a comfortable place for beginners. Follow these steps and start with the registration. 1. Registration: The registration process is twofold — you can log in via your social media account or create an account using your email. Whichever method you choose, following the registration process, you will be able to sell, buy, exchange bitcoins, and perform any trading operations. 2. Verification: To complete registration, you must go through the basic stages of verification. First, it’s confirmation of your email. Then, you will need to undertake extended verification to trade and exchange money for bitcoins without any restrictions. 3. Account replenishment and withdrawal of funds: Replenishment of the cryptocurrency exchange account is carried out in wallets. After crediting money to your wallet, you can move on to trading or exchange bitcoins operations. 4. Trade and exchange money for bitcoins: Binaryx has a great multifunctional trading terminal and exchanger that allows you to buy or sell coins quickly. Conclusion: For bitcoin traders, secure platforms are the only authentic platform to exchange bitcoins. When you are using this platform, you will understand how the platform is made easy. Join Binaryx and experience all the benefits of this advanced and innovative cryptocurrency exchange! Read Also: What Embracing Crypto-Backed Lending Means for the Finance Industry How To Become A Successful Cryptocurrency Trader In 5 Easy Steps HybridBlock: Why Binance Is Investing In Crypto-Fiat Trading

10 Reliable Free Currency APIs For Your Business

What Is A Currency Converter API?