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Currency Rate API Dashboard Building for Real-Time Analysis

Currency Rate API Dashboard Building for Real-Time Analysis

In today’s world, businesses operate internationally. Therefore, it has become vital to know currency values in real time. This helps with making quick and informed decisions. Building a currency rate API  dashboard for real-time analysis is a smart move. A Currency Rate Dashboard API allows you to track currency value changes easily.

One popular tool for this is Fixer’s Currency Rate Dashboard API. It’s a simple tool that gives real-time and historical exchange rates for over 170 currencies. In this blog post, we’ll explain why real-time currency data is so important. We’ll also introduce you to Fixer’s Currency Rate API. Moreover, we will also show you how to use it to build your currency rate dashboard for real-time analysis.

Why Do We Need the Currency Rate Dashboards?

Currency rate dashboards are important because they provide a clear view of currency values. They help businesses and investors make better financial decisions.

Dashboards show real-time data, which is crucial in fast-moving markets. This helps businesses react quickly to currency changes. Hence reducing risks and increasing opportunities. Real-time data means investors can make timely investment decisions. Hence taking advantage of the best exchange rates.

How Do We Build a Currency Rate Dashboard Using a Currency API?

Let’s begin building our dashboard step-by-step. 

Choosing the Right Tools and Frameworks for Dashboard Development 

When creating a dashboard, it’s important to pick the right tools. Angular and React are two popular options for web development.

Angular, made by Google, is a full-featured framework. It has many tools for building complex web apps, like data binding and routing.

React, from Facebook, is simpler and more flexible. It’s great for making interactive interfaces.

When choosing between Angular and React, consider your project needs, team skills, and future updates. Both are good, so pick the one that suits your goals best.

Getting Started With Fixer’s Currency Rate API

Create an account at the Fixer API’s website.

Next, log in to your account to get the API key. You get this API key at the dashboard. 

currency rate api key

Fetching and Displaying Currency Data.

Let’s build the currency dashboard. We will use HTML, CSS, and JavaScript to build our application.

Let’s break down each step with the corresponding code snippets:

Setting Up the HTML Structure

Adding the Dashboard Content

Fetching and Populating Currency Options

Fetching Real-Time Rates

Converting Currency

Plotting Historical Rates

Changing Themes

Adding a Tutorial Section

Final Touches

Here is the GitHub code for our fixer dashboard: https://github.com/devayesha23/Financial_Dashboard 

Customization Tips for Better User Experience.

Here are some tips for achieving a better user experience:

✔️Make sure your dashboard looks good on all devices, including phones and tablets.

✔️Keep your dashboard simple and easy to understand. Use white space to separate elements and make important information stand out.

✔️Use the same colors, fonts, and spacing throughout your dashboard for a cohesive look.

✔️Use clear labels and hints in your forms to help users enter information correctly.

✔️Make your charts easy to understand and interact with. Allow users to click on data points for more information.

✔️Show users when data is loading or when an action is being processed.

✔️Display clear error messages and suggestions for fixing them.

✔️Let users customize their experience, such as choosing a default currency or theme.

Currency Rate API Dashboard Final Code

Output Of Currency Rate API Dashboard

When you run the above code, it will show you a web page with a tutorial section popping on the screen. 

tutorial section

The above tutorial tells how to use our Fixer Currency Dashboard. Click on the cross sign given in the top left corner to close the tutorial section. Now, you can see the below screen. 

Fixer currency dashboard

You should select the base currency to fetch real time updates. Let’s select USD and see the real time rates. 

Fetching the real time rates

These rates come with a complete list that you can check by scrolling down the screen. Let’s try converting currency through our currency converter section. You should enter the target and base currency, and the amount required. Here are the results for converting 100 US dollars to PKR. 

conversion amount

Let’s try the historial rates charts. You should select the starting and ending date with the base and target currency. We have three options; line chart, bar chart, and radar chart. Select your preferred chart. 

plotting currency rates chart

When you click on the Plot Chart button, here are the results. We have shown the results for each chart type:

line chart
bar chart
radar chart

You must note that you can check the rates when you bring the arrow to a particular point. Here is an example:

viewing rates

The same feature also works for the line and bar charts. 

Our dashboard gives you a historical plot for the last 365 days. 

Finally, there is also a feature to change the theme of our dashboard. You can find it under the Select Theme section. 

default theme

Here is the light theme:

light theme 1
light theme 2

Here is the dark theme:

dark theme 1
dark theme 2

How Do Businesses Leverage Real-Time Data for Strategic Advantages?

Businesses use real-time data to make quick decisions, improve customer experiences, and run operations smoothly. Here’s how they do it:

✔️Real-time data helps businesses make fast decisions based on current information.

✔️Businesses can use real-time data to personalize customer interactions and solve issues quickly.

✔️Real-time data helps monitor and improve processes like inventory management and production schedules.

✔️Access to real-time market data helps businesses respond quickly to changes and stay ahead of competitors.

✔️Real-time data helps identify and manage risks like fraud and security breaches.

✔️Real-time data helps track marketing campaign performance and make adjustments for better results.

✔️Real-time financial data helps in accurate forecasting and adjusting financial strategies as needed.

Currency Rate API Dashboard: Conclusion

Creating a currency rate dashboard for real-time analysis is crucial for businesses that operate globally. It helps them monitor currency value changes easily and make quick decisions. Fixer’s Currency Rate API is a useful tool for accessing real-time and historical exchange rates for over 170 currencies. 

Businesses can improve their financial strategies, manage risks effectively, and stay competitive. Real-time data allows businesses to adapt quickly to market changes. Hence,  leading to better financial outcomes and strategic advantages in today’s global economy.

Currency Rate API Dashboard: FAQs

How Often Is Currency Rate API Data Updated in Fixer’s API?

Currency data in Fixer’s API gets updated every hour. This means you’ll get the latest exchange rates for different currencies each time you ask for them.

Can I Use Fixer’s Currency Rate API for Historical Currency Rate Analysis?

Yes. You can use Fixer’s API dashboard to look at how currency rates have changed over time.

Is There a Limit to How Many Currency Pairs I Can Track With the Dashboard?

It depends on the API you’re using and how you’ve set up your app. Most APIs have rules on how many requests you can make in a certain time. You should check the API’s documentation to know its limits. 

Is It Secure to Use the Fixer Currency Rate API?

The Fixer API can be safe if you follow some basic rules. It needs an API key for access, which helps track who’s using it and stops unauthorized access. It also uses HTTPS, which makes sure that data sent between you and the API is secure. But, just like with any API, how secure your app is also depends on how you handle the data you get from the API. 

Sign Up for free at Fixer API today – Create interactive financial dashboards with our trustable API. 

About author

Ayesha Zahra is a GIS Engineer and Full stack developer. She has a hands-on experience in web app & mobile apps development. Besides, she is a technical writer and knows how to create technical videos tutorials. She is always looking for opportunities to grow in her field.
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