Best Currency Exchange APIs
AbstractAPI Currency Exchange Rates and FOREX API
AbstractAPI hosts a number of APIs for performing different tasks. They provide APIs to handle geolocation, image processing, and email and phone validation. AbstractAPI is used by companies like Nokia, Google, Stanford, and Shopify.
AbstractAPI has long-standing relationships with trusted financial data providers, so the AbstractAPI Currency Exchange Rates API features reliable, up-to-the-minute currency data for 150+ currencies and 10,000 currency pairs. The API includes cryptocurrency exchange rates, bank-level security, and robust historical data.
The API is a simple REST API that returns data in JSON format. Updates can be requested as frequently as every 60 seconds, or as minimally as once per hour.
It features both a paid and free tier. The free tier allows for up to 5000 requests at 1 request per second and does not permit commercial use. From there, paid options start at $9 per month for 10,000 requests per month, up to $79 per month for 500,000 requests per month.
AbstractAPI has extensive, clear documentation as well as how-to guides for using the API. They have both chat and email customer support for paid tiers.
Pros
- Over 150 supported currencies and 10,000 currency pairs
- Free tier so you can test the API before committing
- Cryptocurrency exchange rates included
- Simple REST access with secure API keys
Cons
- Support is only available for paid tiers (email support at $9 per month, chat support at $79 per month)
- Commercial use only available for paid tiers
currencyLayer
currencyLayer is a dedicated currency API used by companies like Pixar, TeamViewer, and Freelancer. It is a real-time JSON API used by over 250,000 companies worldwide.
currencyLayer provides information on currencies from 168 countries, as well as precious metals. It allows access to historical data from the past 19 years. Depending on your subscription tier, updates can be requested between once per hour and once every 60 seconds.
The currencyLayer API has three separate endpoints for requesting different types of data: a /live endpoint for up-to-date currency information, a /historical endpoint for requesting historical data, and a /convert endpoint for doing conversions between one currency and another.
currencyLayer has a free tier that allows for up to 100 requests per month. From there, prices start at $14.99 per month for the Starter Tier, which allows 10,000 requests per month with advanced features. The top tier is the Enterprise Plan, at $99.99 per month. This allows for 500,000 requests per month.
Pros
- A dedicated currency exchange API
- Separate endpoints for different types of requests
- Simple JSON format
- Precious metal data included
Cons
- Pricey—standard tier starts at $14.99/month
- No chat support, even for upper paid tiers
Fixer
Fixer.io is a simple, lightweight JSON API that returns current and historical data for foreign exchange rates. The API is used by companies like Microsoft, Instacart, and Samsung. The API is built with developers in mind, and is used by over 200,000 devs worldwide.
The Fixer API features currency information for 170 countries, updated every 60 seconds. Historical data is available as far back as January 1, 1999. There is extensive documentation and standard API support is provided by APILayer, Fixer’s parent company.
Fixer features separate endpoints for the latest rates, conversion, time-series updates, historical rates, and fluctuation data. The API also gives you the option to provide a callback function, which will be run when your request is complete. All responses are returned in simple JSON format.
Pros
- Data from 170 countries
- Endpoints for historical data, current data, conversion, time-series, and fluctuation data
- An optional callback function can be provided
Cons
- Pricey—priced tiers start at $14.99 per month
- The free tier is limited to only 100 requests per month
- No cryptocurrency or precious metal data
Currency Conversion API
The Currency Conversion API is used by companies like Heinekin, Fossil, and Coca-Cola, and is used by developers in over 80 countries. The API has data for over 170 countries and includes current and historical exchange rates.
Historical data is available as far back as 1999. There are multiple endpoints for different types of data, including latest rates, conversion, historical data, and a range of historical exchange rates. The paid tiers of the API support multiple API keys so that individual usage can be tracked.
The free tier provides up to 300 requests per month at up to 10 requests per minute. The starter tier is priced at $9.99 and allows for up to 15,000 requests per month at no rate limit with email support. The top tier is the large tier, which is priced at $75.99 per month and allows up to 1,700,000 requests per month with email support and team management.
Pros
- Generous request limits—up to 15,000 on starter tier and over 1 million on top tier
- Team management with multiple API keys
- Historical Range API
Cons
- No chat support
- Free tier only allows daily updates (rather than once per hour or once every 60 seconds)
ExchangeRates
The ExchangeRates API provides forex data for over 200 currencies. It is used by over 100,000 developers worldwide, and supports companies like Morten, GE, and Honda. It is an APILayers product, similar to Fixer and currencyLayer.
ExchangeRates is a REST API that returns JSON data. It has separate endpoints for latest rate data, conversions, historical data, time-series, and fluctuation data. The delivered exchange rates are in Euros by default, but any currency can be requested.
The pricing is similar to the rates for Fixer and currencyLayer. The free tier allows for up to 250 requests per month. The starter tier, priced at $14.99, allows up to 10,000 requests per month. The top tier costs $79.99 per month and allows up to 500,000 requests per month.
Pros
- Secure API keys and HTTPS supported
- Multiple endpoints for different data types
- Over 200 currencies
Cons
- No chat support
- Default currency is the Euro
Open Exchange Rates
Open Exchange Rates is a simple currency data API providing live and historical forex data. It is used by over 100,000 developers worldwide, in companies like Etsy, Kickstarter, and Coinbase. The API code is all open source and available for viewing on Github.
Open Exchange Rates has currency data for over 200 currencies, and historical end-of-day rates as far back as 1999. Data is blended algorithmically from multiple sources, ensuring fair and unbiased consistency. Open Exchange Rates features a showcase page where products utilizing their endpoints are visible.
The API has multiple endpoints for separate data types including historical data, live data, conversions, et.c The documentation page for the API is rather dense and difficult to parse, lacking in style and somewhat difficult to read.
The free plan provides hourly updates and up to 1000 requests per month. Plans start at $12 per month, which allows 10,000 requests per month, hourly updates, but no currency conversion or time-series data. The top plan is $97 per month, allows unlimited requests, and is updated every 5 minutes.
Pros
- Open source and the code is readily available to view on Github
- Free tier allows up to 1000 requests per month
Cons
- Conversion not available until top-paid tier
- Updates only available hourly
- Priciest top tier at $97 per month
XE
XE is a currency data API that features currency solutions for both personal and business use. They have a free, easy-to-use online currency converter, and have software for money sending and FX payments, as well as the currency API.
XE has over 25 years of experience providing currency solutions, and are trusted by companies like Clearbooks, Vista Print, and Xero. Their global payments system supports over 200 currencies across 130+ countries.
The XE currency API is more complicated to use than the other REST APIs on this list. A language-specific SDK must be installed to interface with the API. There are multiple endpoints for different data types, as well as an endpoint for retrieving account information.
The XE API includes not only historical and live data, but also historical range data, stats, a monthly average for a particular currency, and conversions.
XE offers only annual pricing, and the free option is only available for a 7-day trial. The basic plan is $799 per year. This allows up to 10,000 requests per month with basic email and phone support, and access to all APIs including conversion, averaging, etc. The top tier is $7,999 per year, allows unlimited requests, and can be used by enterprise applications.
Pros
- Generous request limits at all paid tiers
- Over 25 years of experience working with currency apps
- Data on currency averages, stats, and historical ranges
Cons
- Costlier than all other APIs on this list (basic plan is $799 per year)
- Only updates once per day
- Free trial limited to 7 days
Xignite
Xignite is a company that features many financial market data APIs, focused on providing solutions to help companies grow and acquire digital investors. Their Global Currency Exchange API offers real-time and historical forex data for over 29,000 currency pairs and support for over 170 currencies, including Bitcoin.
The API features real-time currency FX exchange rate quotes (Bid, Ask, Mid, Spread) as well as spot rates for major currencies. The currency converter can be used to do conversions between both current and historical rates, and daily official cross rates are also available.
Data can be requested in JSON, CSV, or XML format. Documentation on the various endpoints is extensive and easily searched online.
Prices for the API tiers are not available online. There is a free trial available for a limited period.
Pros
- Extensive data including spot rates, bid, ask, mid, spread
- Historical conversion
- Multiple data formats available
Cons
- Pricing not readily available—must call for quote
- API is slightly more complicated to use than others on this list
Currency API
Currency API is a simple JSON API accessible through a REST endpoint with an API key. The API is built by API Plant, a company specializing in different APIs for geolocation, copyright infringements, and validation. The currency exchange rate API is limited in its functionality but easy to use.
The API supports both JSON and XML formats, both easily specified using a simple parameter to the request URL. There are three endpoints, for a current currency list, historical data, and conversion. There is an unofficial C# library/wrapper for use with the endpoint. The website’s documentation includes examples for use with JavaScript, Python, CURL and PHP.
The free tier allows up to 100 requests per month. From there, pricing is quite reasonable. Pricing is quoted in pounds on the site (we’ve converted to USD here.) The basic tier is about $5.80 per month and allows up to 1000 requests per day. The most popular tier is the professional tier, which costs $35 per month and allows up to 25,000 requests per day. The top tier is enterprise, which allows 100,000 requests per day and costs $92.50 per month.
Pros
- Supports JSON and XML
- Reasonable pricing and a generous free tier
- Good documentation
Cons
- Less feature-rich than some of the options on this list
Conclusion
The currency data API you choose will depend on your particular needs and budget. Our personal favorite is AbstractAPI’s Currency Exchange because it delivers many features at a low price point, and the API is well-documented and easy to use.
FAQs
Is There a Free Exchange Rate API?
Yes, in fact there are many currency conversion APIs and APIs providing exchange rate data for free. Many financial data providers who offer currency exchange information offer so at a price, but most have a generous free tier that allows for a certain number of requests to be made per month.
Some of the most generous free tiers for exchange rate data are:
- AbstractAPI Currency Exchange and Forex API
- Xignite
- ExchangeRates
- XE
- Open Exchange Rates
What Is the Most Accurate Currency Converter API?
All of the currency data API providers on this list procure their data from multiple trusted sources - currency data is therefore guaranteed to be accurate for all of them. The top APIs on our list are:
- AbstractAPI Currency Exchange and Forex API
- currencyLayer
- Fixer
- Currency Conversion
What Is the Best Source For Exchange Rates?
The best place to find exchange rate data is through a trusted online source. or currency conversion API. Most currency exchange apps and APIs around today procure their data from the same sources, so most can be trusted to provide accurate, up to the minute conversions and rates.
