Get Current Rates

The FX Rates API allows users to retrieve the latest indicative exchange rates for supported currency pairs.

This endpoint provides real-time exchange rate data, allowing businesses to convert between currencies. This API supports custom exchange calculations based on a fixed base or quote currency.

First, you need to understand the conversion logic:

Conversion Logic

The API supports two conversion types based on the fixed_side parameter:

Fixed Quote Currency (fixed_side=quote)
- You specify how much quote currency you need.
- The API returns how much base currency is required.
- Example: "How much NGN do I need to get 10,000 USD?"
Fixed Base Currency (fixed_side=base)
- You specify how much base currency you have.
- The API returns how much quote currency you will receive.
- Example: "How much USD will I get for 10,000 NGN?"

Query Parameters

Parameter	Required	Description
`base_currency`	✅ Yes	The source currency for the exchange.
`quote_currency`	✅ Yes	The destination currency for the exchange.
`amount`	❌ No	The amount to be exchanged in either base or quote currency (major currency units).
`fixed_side`	❌ No	Required if `amount` is set. Specifies which currency (`base` or `quote`) should be fixed for conversion.

Example Request

GET http://api.sandbox.waza.co/lync/rates/current?base_currency=NGN&quote_currency=USD&amount=10000&fixed_side=quote

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Explaining the Example:
In the sample request, we are:

Fetching the exchange rate for NGN to USD.

The quote side is fixed, meaning we want to know how much NGN is needed to receive exactly 10,000 USD.

If fixed_side=base, the API would return how much USD we would get for 10,000 NGN.

Example Response

A successful request returns a JSON response containing the latest exchange rates for multiple currency pairs.

{
    "data": {
        "pair": "NGN/USD",
        "timestamp": 1743601175091,
        "base_currency": "NGN",
        "quote_currency": "USD",
        "rate": "1765",
        "conversion": {
            "amount": "10000",
            "fixed_side": "quote",
            "base_amount": "17650000",
            "quote_amount": "10000"
        }
    }
}

Response Fields

Field	Type	Description
`pair`	string	Currency pair in the format `base/quote` (e.g., `NGN/USD`).
`timestamp`	integer	Epoch timestamp (milliseconds) when this rate was generated.
`base_currency`	string	The source currency in the exchange.
`quote_currency`	string	The destination currency in the exchange.
`rate`	string	The exchange rate represents how much base currency is needed for 1 quote currency.
`conversion`	object	(Optional) Only present if `amount` and `fixed_side` are specified. Contains calculated exchange values.
`conversion.amount`	string	The requested exchange amount.
`conversion.fixed_side`	string	The fixed side of the exchange (`base` or `quote`).
`conversion.base_amount`	string	The amount of base currency required for the conversion.
`conversion.quote_amount`	string	The amount of quote currency in the conversion.

The API returns an error response with relevant details if the request fails.

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Additional Notes

Real-time Data: Exchange rates may fluctuate frequently. Ensure you fetch fresh data before making conversions.

Timestamps: Use the timestamp field to track when the rate was generated to prevent outdated conversions.

Updated 3 months ago