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Currency Conversion

Gotranverse Currency Exchange Service provides a way to store and manage multiple collections of exchange rates for the enabled currencies.

Currency Conversion is implemented through Rate Sets which include information on the currency exchange provider and Conversion Rates grouped into valid intervals. Rate sets require associated conversion rates that define the source currency which is to be converted, the target currency, and an exchange rate.

A rate set can store multiple Conversion Rates with combinations of the desired currencies. You can create conversion rates including all possible currencies, but only the enabled ones can be used for conversion.

Rate sets can be associated with different providers and intervals due to your business needs. You can also create conversion rates with the same combination of source and target currencies per the same date for different rate sets. However, you cannot create overlapping intervals in the same rate set. Furthermore, a rate set can store multiple Conversion Rates with currency combinations; however, each desired rate set must be set to ‘active’ to be used for conversion. The diagram below represents a configuration with three rate sets, each with varying intervals, conversion rates and chosen currencies.

This section provides examples of how to create and configure rate sets. To configure a rate set available for the currency conversion:

  1. Create a rate set.
  2. Create an interval and add currency rate to the interval.

Also, with the Currex API, you can:

Testing the connection

To make sure whether the connection can be successfully established, use the following command:

GET http://example-currency.gotransverse.com/currex/2/test-connection

Response

{
  "level": "INFO",
  "message": "Connection with service was successfully established."
}
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