Ask HN: Should I use real-time currency data or select a point in the day?

7 pointsjonathan-kosgei2 comments

When running an ecommerce store, and handling currency conversions do I use a real-time API of select the day's average rate?

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I think you need to read this article https://icoreview2018.com/ about currency data! I hope it will be useful for you!

Currency hedging comes to mind, when having the need to lock a currency exchange rate e.g. options, futures, forwards, etc. This gives you the ability to know, what the conversion rate will be at settlement time. https://en.wikipedia.org/wiki/Foreign_exchange_hedge

Alternatively, your payment gateway/provider will handle it for you as soon as the transaction is received at their end.

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