Rates
WeWire's Rates API allows you to preview near real-time exchange rates between various currencies.
Last updated
WeWire's Rates API allows you to preview near real-time exchange rates between various currencies.
Last updated
WeWire's Rates API allows you to preview near real-time exchange rates between our supported . Whether you're building a payment platform, marketplace, or financial service, this API helps you fetch the latest market rates to display, calculate, or execute currency conversions confidently.
The API provides bid and ask prices for each currency pair:
Bid Rate: This is the price at which WeWire is willing to buy the base currency. In other words, it's the rate you will receive if you are selling the base currency to WeWire.
Ask Rate (also called Offer Rate): This is the price at which WeWire is willing to sell the base currency. It's the rate you will pay if you are buying the base currency from WeWire.
In every currency pair, there are two currencies involved:
Base Currency: This is the first currency in the currency pair. It is the currency you want to convert from.
Destination Currency (also called Quote Currency): This is the second currency in the currency pair. It is the currency you want to convert to.
The exchange rate tells you how much of the destination currency is equivalent to one unit of the base currency.
Example: For the currency pair USD/GHS
:
Base Currency = USD
(US Dollar)
Destination Currency = GHS
(Ghanaian Cedi)
The difference between the bid and ask rates is known as the spread, which reflects market liquidity, demand, and transaction costs.