7 Best Free Currency Converter APIs in 2023

Operating an international business without up-to-date currency information could be difficult for some. That’s why many of the most professional traders trust the best free currency converter APIs. Find more here!

With a reliable currency converter API, one can determine the real-time currency rates within seconds. It will help you run your international business efficiently and work with any user or client worldwide. However, you must find the best free currency converter API to work internationally and retrieve accurate real-time currency rate data.

So, how will you find a reliable API currency conversion for your business?

Go through the comprehensive list of 7 Best Free Currency Converter APIs in 2023 and determine which API would be best for your business or project!

How to Incorporate a Currency API in Your App Setup?

When implementing an API, you will need to insert your API key into your code. The key is unique, and it will be different for all users. Check the documentation if you face issues and need help implementing it correctly.

Comprehensive List of 7 Best Free Currency Converter APIs

#1 Fixer.io

Fixer.io is a free currency converter API that provides real-time exchange rates for over 170 currencies. The API uses data from several sources, including central banks, financial institutions, and market makers, to ensure accurate and reliable exchange rate data. It also offers historical exchange rates and allows developers to convert currencies based on their ISO codes. Fixer API provides a free plan that allows up to 1,000 requests per month, making it an excellent choice for small to medium-sized businesses.

Features:

  • Supports portable JSON format
  • Offer bank-grade security
  • Provides tech support
  • Supports SSL encryption
  • Real-time current and historical currency values
  • Detailed & Interactive documentation
  • Help retrieve endpoint for fast, accurate currency conversion

#2 CurrencyLayer API

CurrencyLayer API is another popular free currency converter API that provides real-time exchange rates for over 168 currencies. It uses data from several sources, including central banks, financial institutions, and market makers, to ensure accurate and reliable exchange rate data. The API also offers historical exchange rates, time-series data, and conversion of currencies based on their ISO codes. CurrencyLayer API provides a free plan that allows up to 250 requests per month, making it an ideal choice for developers who want to integrate currency conversion functionality into their applications.

Features:

  • Real-time JSON API for 168 World Currencies
  • Easy & responsive documentation
  • Supports 246-bit HTTPS
  • Easy-to-integrate API with Advanced Features like switch Source Currency
  • Offers currency conversion endpoint
  • Supports timeframe and currency-change queries

#3 Open Exchange Rates API

Open Exchange Rates API is a free currency converter API that provides real-time exchange rates for over 170 currencies. It uses multiple sources to gather exchange rate data, including the European Central Bank, the Federal Reserve Bank, and the International Monetary Fund. The API also provides historical exchange rates and allows developers to customize the data format to suit their application’s needs. Open Exchange Rates API offers a free plan that allows up to 1,000 requests per month, making it an ideal choice for small to medium-sized businesses.

Features:

  • Offers open-source integrations & JSON format
  • Live and historical exchange rates for over 200 world currencies

#4 ExchangeRatesAPI.io

ExchangeRatesAPI.io is a free currency converter API that provides real-time exchange rates for over 170 currencies. The API uses data from several sources, including the European Central Bank, the Federal Reserve Bank, and the International Monetary Fund, to ensure accurate and reliable exchange rate data. It also offers historical exchange rates and allows developers to convert currencies based on their ISO codes. ExchangeRatesAPI.io provides a free plan that allows up to 1,500 requests per month, making it an ideal choice for small to medium-sized businesses.

Features:

  • 250 Monthly Requests
  • Accurate rates for 200+ pairs.
  • Supports open-source integrations and JSON format

#5 OpenRates API

OpenRates API is a free currency converter API that provides real-time exchange rates for over 170 currencies. The API uses data from several sources, including the European Central Bank, to ensure accurate and reliable exchange rate data. It also offers historical exchange rates and allows developers to convert currencies based on their ISO codes. OpenRates API provides a free plan that allows up to 1,000 requests per month, making it an ideal choice for small to medium-sized businesses.

Features:

  • Supports open-source integrations and JSON format
  • Live rate updates
  • Provides current and historical currency values in secs

#6 Currencystack.io

Currencystack.io is a free currency converter API that provides real-time exchange rates for over 154 currencies. The API uses data from several sources, including central banks, financial institutions, and market makers, to ensure accurate and reliable exchange rate data. It also offers historical exchange rates and allows developers to convert currencies based on their ISO codes. Currencystack.io provides a free plan that allows up to 2,500 requests per month, making it an ideal choice for small to medium-sized businesses.

Features:

Developer-friendly, reliable, and accurate API

Currency exchange rates for 154 world currencies.

Real-time mid-market exchange rates.

#7 XE

XE is a free currency converter API that provides real-time exchange rates for over 170 currencies. It supports both foreign exchange rates and crypto exchange rates. It collects data from multiple central banks and commercial sources, ensuring you always get accurate rates. Also, it provides 20 years of historical data, which helps your application stay updated with the latest market trends. Overall, it is one of the best APIs for forex trading purposes or even for general monetary transactions like remittance payments etc.

Features:

  • Provides current and historical data from 1998
  • Offers data on currency volatility
  • Supports customizable margin rates

Why Is fixer.IO So Desirable in Developer World?

Fixer.io comes with an impressive set of features that are hard to beat! With Fixer.io, you can access real-time exchange rates for 170 global currencies updated every 60 seconds, ensuring you always receive the most up-to-date information. The API sources data from trusted sources and encrypts the connection with 256-bit SSL encryption, providing high protection against hacking attempts. In addition, the returned data is formatted in JSON, making it simple to integrate into web applications. The data is returned in JSON format, which makes it easy to integrate into web applications.

Final Verdict

Many great free currency converter APIs are available in 2023, each with unique features and benefits. After careful consideration, it’s difficult to declare a single “best” currency converter API for all use cases.

However, based on the features and capabilities provided, some of the top contenders are Fixer.io, CurrencyLayer, ExchangeRatesAPI, and Open Exchange Rates. These APIs offer comprehensive currency conversion features, with real-time exchange rates, historical data, and support for multiple currencies. Additionally, they offer easy integration with other APIs, making them convenient and user-friendly.

Other notable mentions include XE Currency Converter and currencystack. These APIs also offer valuable currency conversion features, such as historical data and support for multiple currencies.

Ultimately, the choice of the best free currency converter API depends on your specific business needs and the features you require. It’s important to research and compare different options before making a decision in order to find the currency converter API that best meets your unique needs and preferences.

FAQs

What Is a Currency Converter API?

A currency converter API allows applications to convert between different currencies.

How Can Businesses Benefit From Using a Currency Converter API?

Businesses can benefit from using a currency converter API by providing customers with real-time currency conversion and improving financial management.

Are Free Currency Converter APIs Reliable and Accurate?

Free currency converter APIs can be reliable and accurate, but it’s important to research and compare different options before choosing one.