OANDA has released a version of its Exchange Rates API, which has been updated to include real-time currency rates. The rates available on the API are updated every five seconds, providing a more accurate reflection of current market prices. In addition to providing live rates, the new API also offers 96 fixing rates daily. Available at 15-minute intervals, each fixing rate provides bid, ask, and midpoint rates. Customers also have access to daily and period average rates aligned to their time zone and can now access open and close prices.
The new API aims to provide corporate treasurers and finance directors with a greater degree of visibility over the FX market, helping them mitigate risk, reduce currency exposure and improve cash flow. The API may also be of value to product managers and application developers who require reliable FX data to power web services, pricing engines, and digital products. API documentation is available on OANDA's website, including instructions in order to ensure the seamless integration with ERP, TMS, billing software and more.