Get Cross-Rates for minor Currencies
How is it possible to get the prices of minor currencies, that are not available directly from our web-service/api ?
One of the most popular questions we receive on our Live-Chat and Email Support from our customers, is asking how is it possible to get the prices of minor currencies, that are not available directly from our web-service/api.
For example, if one is looking for MYR/CNY, or SGD/GBP, although they are not directly available on the Webservice, it's very easy to obtain them using a simple approach of switching the base currency after using the reference/bigger cross-pair (in the majority of the times USD, or EUR).
Let's see an example:
MYR/CNY or any other cross-rates with base currency MYR is not provided. However, that doesn't mean we can't calculare it.
In this case/example, we'll use the reference USD/MYR (available on the webservice), and then convert to the desired cross-rate (the USD/CNY we want).
At prices of today we have:
{"currency":"USD/MYR","rate":”4.14611}
{"currency":"USD/CNY","rate":”6.8421"}
So, to calculate the MYR/CNY price we will just need to calculate the following:
6.84/4.15 = 1.65 MYR/CNY
We hope that you find this article helpful, and in case you have any additional question please contact us.
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