"Retrieving currency conversion value from existing website"
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I am working on a small banking application in which if suppose i have to transfer money from US to UK, I have to retrieve the latest Dollar to Pound conversion rate and the transfer the corresponding pounds to the corresponding account. Now how do i retrieve these conversion rates in to my application. Can i retrieve these from the existing websites offering these conversion services..? If yes.. How do i do it? Let me know if there is any other method.. Also suggest me any forums,Sites,Links or articles having info about this. Forgive me if the problem is too basic. . I am novice in this field.
Harsha
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I am working on a small banking application in which if suppose i have to transfer money from US to UK, I have to retrieve the latest Dollar to Pound conversion rate and the transfer the corresponding pounds to the corresponding account. Now how do i retrieve these conversion rates in to my application. Can i retrieve these from the existing websites offering these conversion services..? If yes.. How do i do it? Let me know if there is any other method.. Also suggest me any forums,Sites,Links or articles having info about this. Forgive me if the problem is too basic. . I am novice in this field.
Harsha
If you are developing this for a bank or financial institution they will have real time feeds available through a well known api which you should have access to. If not then you'll need to retrieve the data from an online service of some description. There will be 2 types: free and pay. The free are usually at least 15 minutes behind the market and, therefore, may cost you money on the exchange. You should look at a paid, real time service. A good free one is Yahoo. They expose much of their financial data (including FX rates) through a published api which I use on my web site to get some data of interest. Here: FX and market data[^] You can find some good information on how to do that here: http://www.gummy-stuff.org/Yahoo-data.htm[^] Good luck: you'll need to figure out how to code that in an appropriate manner to your skill level and language preference. Hey, got to leave you something to figure out on your own otherwise you'll never learn.
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If you are developing this for a bank or financial institution they will have real time feeds available through a well known api which you should have access to. If not then you'll need to retrieve the data from an online service of some description. There will be 2 types: free and pay. The free are usually at least 15 minutes behind the market and, therefore, may cost you money on the exchange. You should look at a paid, real time service. A good free one is Yahoo. They expose much of their financial data (including FX rates) through a published api which I use on my web site to get some data of interest. Here: FX and market data[^] You can find some good information on how to do that here: http://www.gummy-stuff.org/Yahoo-data.htm[^] Good luck: you'll need to figure out how to code that in an appropriate manner to your skill level and language preference. Hey, got to leave you something to figure out on your own otherwise you'll never learn.
Thanks a lot.. I will try it out...
Harsha
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I am working on a small banking application in which if suppose i have to transfer money from US to UK, I have to retrieve the latest Dollar to Pound conversion rate and the transfer the corresponding pounds to the corresponding account. Now how do i retrieve these conversion rates in to my application. Can i retrieve these from the existing websites offering these conversion services..? If yes.. How do i do it? Let me know if there is any other method.. Also suggest me any forums,Sites,Links or articles having info about this. Forgive me if the problem is too basic. . I am novice in this field.
Harsha
From your question, I assume that you do not have a relationship with a bank yet. All banks have in-house conversion rates for their customers, and currency trading desks with real time feeds to current market prices. Many banks just give customers a single rate through out the day. Since the choice of source of the conversion data will vary from bank to bank, you may have to code in such a manner that you can customize your code to handle different data sources and input data formats easily. If it is just for a demonstration, you may use any of the sources from the Internet.
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I am working on a small banking application in which if suppose i have to transfer money from US to UK, I have to retrieve the latest Dollar to Pound conversion rate and the transfer the corresponding pounds to the corresponding account. Now how do i retrieve these conversion rates in to my application. Can i retrieve these from the existing websites offering these conversion services..? If yes.. How do i do it? Let me know if there is any other method.. Also suggest me any forums,Sites,Links or articles having info about this. Forgive me if the problem is too basic. . I am novice in this field.
Harsha
What kind of an application is this? The answer will vary depending on the role of the application.
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