If you are working with international clients, you need to have up-to-date information on currencies. However, the exchange rates are rapidly changing every day. Hence, it can be very difficult to get the correct value. By using a currency converter API, you can effortlessly get real-time currency rates. Also, it is very easy to implement into your web apps. You just need to write a few lines of code. In this way, the API can help you save time and money on unnecessary efforts. Also, it makes your business more efficient. There are lots of solutions available online. But which is the best free currency converter API? In this post, you will find the top currency converter APIs for 2024. Let’s dive in.
Table of Contents
What is a free currency converter API?
A free currency converter API is a tool that helps you easily integrate currency data into your applications. It offers web services for conversion. As a result, the developers can effortlessly convert one currency to another. The tool is free. Therefore, you don’t have to spend any money to use it.
How can I use a currency API?
To use an API in your application, you will need an API key. The key is unique. It will never be the same for all users.
Next, you have to insert the key into your code to implement the API. If you face issues, make sure to check the documentation. It usually covers all errors. Also, it provides useful information about different features.
What are the characteristics of the best free currency conversion API?
Super-Fast
Free currency converter APIs can deliver high performance. They have been designed to efficiently deal with a large number of requests every second. As a result, they can deliver the results to your queries in milliseconds.
Reliable JSON API
The currency API comes with guaranteed availability and scalable volumes. It offers high uptime and fast support. The APIs are constantly monitored to ensure reliability.
Trusted Sources
Currency rates are sourced from trusted financial data providers and banks. Hence, you will always get accurate and reliable rates.
Currency Conversion Endpoints
Currency converter APIs also come with separate endpoints for single currency conversion.
Comprehensive Documentation
The APIs come with helpful documentation. It covers everything in detail. Also, it provides code samples. As a result, you can easily implement the APIs into web apps.
Multiple Endpoints
The API features multiple endpoints. Each of them serves a different use case.
What are the 7 best free currency converter APIs in 2024?
- Fixer.io
- Exchange Rates API
- Open Exchange Rates
- Currencylayer
- XE
- Currency API
- IBAN- Forex Reference Suite
1. Fixer.io – The Best Free Currency Converter API for 2024
Fixer is a lightweight and powerful API. It offers both current and historical forex (foreign exchange) rates. It comes with a straightforward API structure. As a result, you can implement it into your website in less than 10 minutes.
Fixer uses multiple sources for stable and reliable rates. It collects information from over 15 financial data providers and banks, including the European Central Bank. It updates the data every 60 seconds.
Fixer offers a bunch of API endpoints for the latest rates, historical rates, time-series data, fluctuation data, and conversion. It lets you easily retrieve the latest exchange rates for hundreds of currencies. You just need to write a few lines of code.
Here is an example of using Fixer to convert currencies in JavaScript programming language:
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// set endpoint and your API key endpoint = 'convert'; access_key = 'API_KEY'; // define from currency, to currency, and amount from = 'EUR'; to = 'GBP'; amount = '10'; // execute the conversion using the "convert" endpoint: $.ajax({ url: 'https://data.fixer.io/api/' + endpoint + '?access_key=' + access_key +'&from=' + from + '&to=' + to + '&amount=' + amount, dataType: 'jsonp', success: function(json) { // access the conversion result in json.result alert(json.result); } }); |
You can use Fixer without spending any money through the free plan. Also, it offers a variety of paid plans.
Features:
- Offer bank-grade security
- Provides tech support
- Offers comprehensive documentation
- Supports SSL encryption
- Provides highly accurate current and historical currency values
- Supports portable JSON format
- Provides endpoint for easy currency conversion
2. Exchange Rates API – A Top-Notch Free Currency Converter API
Exchange Rates API offers free service to developers. It supports both foreign exchange rates and crypto exchange rates. It collects exchange rate data from multiple central banks and commercial sources. Hence, you will always get accurate rates.
The foreign exchange rate API offers 170 forex currencies and 6000+ cryptocurrencies. Also, it provides 20 years of historical data. Besides, the average uptime is 99.99%. Overall, it’s a highly reliable API.
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var requestURL = 'https://api.exchangerate.host/latest'; var request = new XMLHttpRequest(); request.open('GET', requestURL); request.responseType = 'json'; request.send(); request.onload = function() { var response = request.response; console.log(response); } |
3. Open Exchange Rates – A Lightweight Free Currency Converter API
Open Exchange Rates is a lightweight JSON API. It provides accurate currency rates by utilizing reliable data sources. It provides both current and historical end-of-day rates. Also, the API is very easy to integrate into applications. Overall, it’s one of the best free currency converter APIs on the market.
Features:
- Supports open-source integrations and JSON format
- Provide live rate updates
- Offers current and historical currency values
4. Currencylayer – An Amazing Free Currency Converter API
Currencylayer is a free forex rate JSON API. It is compatible with different programming languages, including PHP, JavaScript, and Java. It enables you to easily request exchange rates for a specific timeframe. Also, you can get information on currency fluctuation.
Currencylayer supports over 168 currencies. It collects data from various commercial sources and banks. Depending on the plan, it can refresh data every 60 minutes, 20 minutes, or 60 seconds.
Features:
- Provides usage statistics and interactive documentation
- Supports 246-bit HTTPS
- Offers current and historical currency values
- Supports portable JSON format
- Offers currency conversion endpoint
- Supports timeframe and currency-change queries
5. XE – A Great Free Currency Converter API
XE’s currency data API has been serving developers for years. You can easily implement it in different applications. like Microsoft Dynamics, Sage, and SAP. The API allows you to effortlessly make timeframe queries. Also, it provides extensive documentation. It explains all the features in detail.
The API supports 170+ currencies. It gathers data from 100+ global sources. It is a free currency converter API. Hence, you can use it without spending a penny. However, if you want to use advanced features, you have to go for the premium plan.
Features:
- Provides current and historical data from 1998
- Offers data on currency volatility
- Supports customizable margin rates
6. Currency API – Another Great Free Currency Converter API
Currency API offers current and historical foreign exchange rates. It supports over 170 currencies. Also, it supports cryptocurrency conversion.
The tool uses JSON REST API to provide real-time foreign exchange rates. It updates the data every 60 seconds. As a result, you will always get accurate rates. The API comes with a robust infrastructure to handle millions of requests every day. It is highly reliable.
Currency API offers a free API key. It gives you 300 free credits per month.
7. IBAN- Forex Reference Suite
IBAN’s Forex Reference Suite is one of the top currency conversion APIs for 2024. It provides data from central banks and trusted sources. Therefore, you will never have to worry about data reliability.
The API updates the currency rate every 10 minutes. It gives you access to more than 154 currencies. It provides you with up-to-date conversions that reflect the fluctuations in the market.
Is Fixer.io really the best free currency conversion API for 2024?
Fixer.io provides real-time exchange rates for 170 world currencies. It updates the data every 60 seconds. Hence, you will always get the latest rates. The API collects data from authority sources. Also, it encrypts the connection with bank-grade 256-bit SSL encryption. As a result, hackers will face a very hard time intruding into the system. On top of that, it is very easy to implement into web applications. For these reasons, Fixer.io is considered the best free currency conversion API for 2024.
FAQ
What are rate limits in API?
A rate limit refers to the number of API calls you can make within a specific period. If you exceed it, your app can’t make API requests.
What is a currency API?
A currency API is a tool that provides current and historical exchange rates. It helps you easily integrate currency data into your web application.
