Im building a website which has to display live international currency exchange rates. I dont know from where i can get this data. I?ve looked many websites. I?ve heard Yahoo Finance provides currency exchange widget for website. but how?
Here is the link of 1 website which contains Yahoo Finance currency exchange rate. I want just like 1.
http://www.prothom-alo.com/section/date/2010-12-21/category/50
Thank You.
Answer by Eavanescence E
ok!, it?s easy, you have to use something called Application programming interface (API). to make it short, i suppose that u develop ur website in one of these server-scripting languages: PHP, Python, Perl, Ruby, .NET or Java.
there is a currency rate API free-license provider, you can check it out, register to take the API key and license to the particular URL (or ur website address) and use some of the examples that given in the examples page to your corresponding server-scripting language.
http://www.exchangerate-api.com/
good luck.
I am traveling abroad in about 2 weeks, and I signed up for a visa gift card so I could purchase things internationally with, what I had understood was ?no currency exchange rate?. However, the bank tellers clearly don?t know anything, so when I called the gift card company, I was told there?s a 3% exchange rate. I do not plan on making more than 15 purchases (that is TOPS), so I was wondering if this exchange rate is dangerous or not.
The person I talked to on the phone said my fees would add up to about $ 15-$ 16 (American dollars), which doesn?t sound bad, but is there something else I should be aware of? I would not want something unexpected to happen where I rack up a bunch of extra charges.
As you can tell, I am very clueless (lol) but I?d rather be safe than sorry. I?m going to England, France and Italy so I?m dealing with pounds (England) and the Euro (France and Italy).
Answer by Steven
Do not worry ? that is not a bad exchange rate surcharge at all. If you take a look at the current exchange rates on a website like http://www.xe.com/ucc/ you will be looking at the market rate for currency exchanges. This rate is what you would get on the open market if you trade a minimum of $ 100,000.
The banks (and credit card companies) offer you a service where you can exchange currency in amounts far less than that. The thing is that they build in an extra percentage charge to pay for their labour and the fact that they have to trade in higher volumes and then break it down to trade with you.
So, all banks and credit card companies do this. 3% does not seem bad, as I just checked with my bank?s website and it looks like from Euros to US Dollars they would charge me 2.89% on top of the current exchange rate.
In short, just use your card and have a great trip.
Hi,
On 8Jun, I got a USD/MYR currency exchange rate of 3.5460 through http://www.xe.com/ict/, however when I referred to the historical data in other website such as:
http://www.fxstreet.com/forex-tools/rate-history-tools/
and other websites illustrated by graphs, neither of them showed 3.54.
So just wondering is it possible that a rate will be ignored only because it appeared shortly?
Also, if I am looking to trade with bank, which website suit me better considering the above 2 links.
Sorry if it sounds like a stupid question.
Big thanks for help.
Answer by fx
You are refering rates from different websites, it?s common that the rates will be different. And rates from such websites is only good for references, although I have no idea about your purpose for the rates.
In fact, even banks are giving different rates. For MYR, you will need to refer to bank based in Malaysia, as MYR can?t be traded outside Malaysia.
Answer by Elliott
With the forex market there is no single exchange and different institutions will indicate rates based on their own systems. Thus there is no definite rate.
Some local banks give the rate that they can offer based on the relationships they have with larger international banks. The rates on most websites are an average of these trading banks. However each site will use different banks to create their average.
If you are trading with your local bank you will have to look at the rates your bank offers you and see which site most closely resembles this rate. The rates on any site is only indicative and is not normally used for trading.
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