Don't Manually Calculate Foreign Exchange Rates Ever Again
Foreign exchange rate calculation is one of the necessary evils of doing business internationally. Studies have shown localizing currencies can increase sales by 30% on eCommerce sites. Even if you only charge customers (or are paying global vendors) in your native currency, at some point, you will find yourself calculating foreign exchange rates.
Although there are free foreign exchange rate services available on the web, it quickly becomes cumbersome to manually calculate rates. Also, many of the free services have terms and conditions that disallow commercial usage.
Finally, exchange rates are dynamic; changing by the hour so a real-time solution integrated into your work flow becomes critical. For example, the EUR to USD has fluctuated by almost 12% in the last 6 months!
There is an easier way. Foreign exchange rate APIs, like StrikeIron's Foreign Exchange Rate Web Service can be integrated into any application, are continuously updated, and can be used for commercial services.
There are many use cases for a foreign exchange rate API. Some customers use us in their eCommerce platforms to create real time conversions between currencies for checkout. Other customers use us in backoffice ERP and business intelligence solutions to understand the impact that foreign exchange rates have on their business.
Regardless of the use cases that fit your business, having the most accurate data for foreign exchange rates in over 160 countries is critical to ensure you are not losing money from inaccurate exchange rates. Click here to signup for a free trial of StrikeIron’s Foreign Exchange Rate Web Service , call us at +1 919.465.2266 ext 2 or email us at firstname.lastname@example.org