Open Exchange Rates API
Forex & Currency · Data Analytics
Open Exchange Rates is one of the most widely deployed foreign exchange rate APIs in the world, used by thousands of applications ranging from e-commerce platforms and accounting software to fintech apps and content management systems. The service provides clean, reliable JSON exchange rate data for over 200 currencies, with rates updated hourly on the free tier and in real time on paid plans.
Open Exchange Rates API Highlights
Open Exchange Rates API is verified for developer integrations in Nigeria and across African markets, providing documented endpoints, sandbox testing, and developer support.
API Key
1,000 req/month on free tier; up to 1M+ on Enterprise
Nigeria
Ghana
Kenya
AWSOpen Exchange Rates API is best for:
Nigerian developers needing a reliable, widely trusted forex API for building currency converters, international pricing tools, and financial apps with NGN support.
- Free:1,000 req/month, hourly updates, USD base only
- Starter $12/mo:10K req, any base
- Production $97/mo:100K req, real-time
- Enterprise custom
Open Exchange Rates API Core Features & Capabilities
Required Access Documents for Open Exchange Rates API
- API KeyRequiredFree API key from openexchangerates.org. Passed as app_id query parameter in all requests.
Different Open Exchange Rates API use cases
- Nigerian Accounting Software Currency Conversion:Nigerian accounting and ERP software can use Open Exchange Rates to fetch historical exchange rates on any past date recording USD, GBP, or EUR transactions at the correct historical NGN rate for IFRS-compliant financial reporting and FIRS tax filings.
- International Pricing Engine for Nigerian SaaS:Nigerian SaaS companies with global customers can use Open Exchange Rates to display subscription prices in each customer's local currency automatically converting NGN or USD pricing to EUR, GBP, CAD, AUD, and 200+ other currencies at current rates.
- NGN Rate History Dashboard for Nigerian Finance Teams:Nigerian corporate finance teams can use Open Exchange Rates' historical API (rates back to 2001) to pull the entire USD/NGN rate history building exchange rate trend charts, calculating hedging costs, and analyzing naira depreciation patterns over decades.