Currency Converter API is probably one of the most valuable tools in business and trading in the international market. This is because you need the correct information about various currencies and their value.
Essentially, a currency exchange API is an application interface that enables you to exchange currency and convert currencies accurately. Moreover, real-time forex API supports several currencies and data sources to get you current and historical rates to make your trading feasible.
You’d be surprised to know that there are several paid and free currency APIs that offer you data quickly. This blog will enlighten you about the top 5 best free currency converter APIs.
Top 5 currency converter API in 2022
Earlier, banks were the only way to get your currency converted. Nowadays, with technology booming, you can get access to the best free currency converter API and paid ones too. They are essentially application interfaces created as JSON, XML, or CSV to give you currency conversions accurately.
With the value of each currency changing every day, having a reliable and accurate currency converter API is essential for your international business. Here are the top 5 recommended currency exchange APIs.
1. Fixer
Fixer is one of the top recommended APIs to use in 2022. It is a simple and lightweight API that works in the JSON file format. Companies like Microsoft, Samsung, Instacart, and Bershka rely on this for real-time forex API.
With over 6 plus years of experience in providing reliable data sources and being the number 1 resource for real-time exchange rates, Fixer is secure and trustworthy. They offer you data from financial data providers and banks like European Central Bank.
Moreover, they offer you the exchange rate for over 170 currencies, updated every 60 seconds. Fixer has free API and paid options with extensive documentation and historical data depending on the services you need.
2. Currency API
Currency API supports over 170 currencies and helps you handle your current and historical foreign exchange rates perfectly. Moreover, Currency API offers you a free API key that gives you 300 free credits per month.
Furthermore, you can also get the conversion for cryptocurrency with this API. Using JSON REST API, this interface provides real-time foreign exchange rates and updates itself every 60 seconds. It is a robust infrastructure that handles millions of requests every day, so you cannot go wrong with conversions from Currency API.
With companies like Coca-Cola, Heineken, SAP, and Fossil using their service, it is trustworthy and easy to use. As such, they offer you premium support, fast response times, bank-level support, and trusted data sources. While you can use their free currency API, you will get the best results on their affordable paid platforms.
3. Currency Layer API
Currencylayer offers a simple REST API with genuine and chronological exchange rates for 168 global currencies, trying to deliver currency pairs in ubiquitously serviceable JSON format that is compatible with any of your applications.
Spot exchange rate information is extracted in real-time from many major forex internet companies, affirmed, analyzed, and supplied hourly, every min, or within the business window of 60 seconds.
The currency layer API powers monetary converters, mobile applications, financial system software, and back-office devices all over the world and provides the most reflective forex market price available (“midpoint” value) for every API request.
4. XE
XE allows you to check live currency rates and is one of the world’s most trusted currency authorities. Used by reputed companies like Shopify, Vista Print, Clear Books, and Xero, XE provides historical and current currency rates and a travel expenses calculator.
Moreover, the currency rates update every 60 seconds and are a fast and reliable currency calculator and converter. With over 25 years of experience, XE is a well-recognized member of Euronet Worldwide and is a formidable currency exchange leader.
5. IBAN- Forex Reference Suite
IBAN’s Forex Reference Suite is a SAAS solution and is the best-automated currency conversion API. It provides data from trusted data sources like central banks and authority sources.
Moreover, the currency rate updates every 10 minutes to provide you with real-time forex data. You get access to more than 154 currencies, and it provides you with conversions that are up to date and reflect the fluctuations in the market.
Furthermore, the API is secured with HHTPS, which ensures your privacy, and protects your data.
To Conclude
While these are the top 5 currency converter API, we recommend Fixer. It uses a simple and lightweight API, JSON API, to enable you to convert currency in real-time. The dedicated support and bank-level security it offers make it safe and trusted.
Moreover, it is the best free currency converter API that offers hourly updates and historical data. When choosing your currency converter API, you might also want to consider your budget, company requirements, update frequency, and data sources.
Besides, try to find APIs that support at least 150 plus currencies and offer you accurate information and customer support.
So, read through this blog and research the best currency exchange API that will work for your business.
