Currency conversion holds immense significance in the lives of forex traders, investors, finance-related employees, e-commerce entrepreneurs, customs employees, and so on. But why? What does a currency converter do to help the audience? By using an API currency converter, users can obtain the real-time currencies of numerous countries and implement the same while engaging in international finance or trade. 

The world has become a hub for financial trading, and every individual is busy seeking a chance. With the availability of diverse foreign exchange rates API, it has become feasible to exchange and convert currencies seamlessly. But how will you understand which is the best currency API to work with?

Bringing the Top API Currency Converters 

It was after a rigorous scan of plentiful APIs across the market, here are the top ones that not only offer some fascinating features but also affordable prices. 

  1. Currencylayer API 

Topping the list of the best currency API is the Currencylayer API which is adept in offering the most real-time currency exchange rates you have always wanted. It is not any random currency converter API but puts forward currencies of as sizeable as 168 countries. This API is highly regarded for obtaining authentic information that too greatly reliable sources like commercial banks and similar platforms. 

This API offers effortless compatibility with different applications and programming languages. The data is updated every 60 seconds, and this factor helps users trust the API even better. Its integration process includes the adaptable JSON format that ensures high usability, and compatibility. 

The best part about using this API is its affordable budget. Its free option lays down numerous features, and if you wish to upgrade, the starting prices are also not excessively heavy on the pocket. 

  1. XE Currency Data API 

This one is again a universally trusted currency converter that proffers real-time live rates. Your business will be highly benefitted from the use of this API since it also lays down the historical rates. This means traders or entrepreneurs, dealing with foreign currencies will be able to make a thorough decision after checking the previous year’s data. It comprises data from more than 170 countries. The user will enjoy exhaustive support through phone and email as well. There are no base currency restrictions, and also customizable margins. 

It offers different pricing schemes – Lite offering 10, 000 requests monthly, Best Value offers 30, 000 requests monthly, Prime offers 100,000 requests monthly, and Infinite offers unlimited requests monthly. 

  1. ExchangeRates-API 

This one is a product of Rooikat Holdings (Pty) Ltd. it is utilized by more than tens of thousands of programmers and developers. From feeding their spreadsheet models to processing data for academic projects, this API benefits users in distinct ways. Many people use this free foreign exchange rates API for analyzing the market with the help of the global exchange rate. 

Its features include a convenient interface, JSON responses, internal dashboards, an extremely fast interface, and also a global exchange rate. The best part is, this one is a completely free API. 

  1. Open Exchange Rates API 

This one is a popular API that offers uniform, authentic, and adaptable exchange rate data and currency conversion for the business. It is designed in a robust, and precise manner, and most importantly it is specially created by developers to ease the work of developers. While using this, you can completely focus on developing amazing products and services instead of just squandering time on unnecessary work. 

This currency conversion has a convenient and easy-to-use interface. Furthermore, there are open-source integrations, it is scalable, and is featured in abundance. You will enjoy real-time updates, open-high and low-close average prices, dedicated phone support, and very important historical prices. 

With the free version, you will be able to enjoy hourly updates alongside using 1, 000 requests per month. The upgraded plans start from $12 per month and reach $97. 

  1. OANDA 

If you are looking for a robust and faultless exchange rate API, then OANDA is the one. It comprises some of the biggest data sets of every sort. It offers accurate foreign exchange rate data to multiple organizations across the world. Historical rates, average rates, real-time rates, and more are offered by this API. 

Some of its features include historical data of over 38, 000 forex pairs, forward rates, forex rates, real-time rates, UTC Timestamps, and over 200 currencies as well as precious metals. The pricing of this API offers both free and premium plans. While the free plan offers up to 1, 000 quotes a day for 30 days. The paid plan starts from $400 per month to $750. 
These 5 currency converter APIs have often been considered the best of the lot because of their superb features. You can try out the above ones, and choose to continue with the one you like. You might also check out ‘whats my IP API’ to also check out the addresses and locations if you are a business. This will help you offer a location-based offer to your respective customers.