There are several options when it comes to obtaining reliable exchange rate information using a public API.
Last reviewed: September 2026. Prices and plan details as published by each provider.
For businesses, having access to accurate, up-to-date exchange rates is essential to ensure financial accuracy, comply with regulations, and make informed decisions. Whether you’re managing an ERP system, handling financial reporting, or integrating exchange rates into business intelligence tools, these APIs offer a crucial resource.
In this blog post we will try to compare the most popular API services and provide the information needed to choose the right fit for your needs.
We will focus on the following currency exchange rates API services:
OANDA
OANDA is a premium API service, with a long experience and a reputation for accurate and reliable data.
XE
XE Exchange Rates API is a professional API with a focus on accuracy, from the XE money transfer service provider.
Open Exchange Rates
Targeting primarily commercial applications, Open Exchange Rates offers a more developer-friendly and lightweight API service.
Global Exchange Rates
Global Exchange Rates is an enterprise level API that provides an easy to integrate, accurate and comprehensive service. Leveraging the most modern technologies, it provides an affordable and complete solution.
Feature comparison
| Feature | Global Exchange Rates | OANDA | XE Currency Data | Open Exchange Rates |
|---|---|---|---|---|
| Target market | Accounting, tax & reporting, ERP, financial services | Financial services, trading, commercial apps | Financial services, money transfer, commercial apps | General & commercial applications |
| Data sources | Central banks & tax authorities (official rates) | Official central-bank rates + market blend | Official central-bank rates | Commercial midpoint rates |
| Native integrations | Official native connectors: Dynamics 365 F&O, Dynamics 365 Business Central, SAP (S/4HANA & ECC), QuickBooks, Salesforce, Zapier, Make, Power Automate, Boomi, MCP server, client libraries (5 languages) | Third-party integrations only | Third-party integrations only | API only |
| Legal entities | Unlimited (all plans) | Not specified | 1 to 10 by plan (unlimited on Enterprise) | Not limited |
| Data formats | JSON, XML, CSV | JSON, XML, CSV | JSON, XML, CSV | JSON |
| Connectivity | API and FTP | API only | API only | API only |
| Historical data | Available | Available | Available (to 1998) | Available |
| Getting started | Online sign-up & enterprise sales | Mostly sales contact | Online sign-up | Online sign-up |
| Starting price | from $49 / month | from $840 / month | from $799 / year | from $12 / month |
Native integrations and an MCP server for AI agents
Where Global Exchange Rates stands out most is integration. Beyond the REST API, it ships ready-made connectors for the tools finance and data teams already use, so you can bring official rates into your systems without writing integration code:
- Microsoft Dynamics 365 Finance & Operations
- Microsoft Dynamics 365 Business Central
- SAP (S/4HANA and ECC)
- QuickBooks
- Salesforce
- Zapier, Make, Power Automate and Boomi
- Client libraries for Python, C#, JavaScript, Go, and Java
It also provides an MCP (Model Context Protocol) server, which lets AI agents and assistants retrieve official exchange rates directly, which is increasingly useful as finance and analytics workflows move into AI tools. OANDA and XE, by contrast, offer the API with third-party integrations but no official native connectors, so the integration work is largely left to you. You can browse the full list on the integrations page.
How to choose an exchange rate API
The right provider depends on what you need the rates for. A few criteria matter most:
- Official vs. market rates: for accounting, tax, audit and regulatory reporting you need the official rate published by each central bank, not an indicative market or midpoint rate. For trading or live pricing, a real-time market rate may be more relevant.
- Ready-made integrations: does the provider offer connectors for your stack (ERP, accounting, BI, automation), or only a raw API? Pre-built integrations can save significant development time.
- Delivery and formats: API is standard; FTP delivery and multiple formats (JSON, XML, CSV) make integration with ERP and accounting systems easier.
- Legal entities: some providers limit how many companies you can cover per plan, so check this if you operate multiple subsidiaries.
- Total cost: the headline price plus any add-ons (live rates, extra entities), and whether sign-up is self-serve or requires a sales process.
Which API for which use case
The provider that fits best depends on what the rates are used for:
| Use case | What you need | Suitable option |
|---|---|---|
| Accounting, tax and audit | The official daily rate published by each central bank or tax authority, for every country and legal entity you report in | An official-rate provider: Global Exchange Rates (unlimited legal entities), OANDA or XE |
| ERP and finance system automation | Rates loaded into SAP, Dynamics 365, QuickBooks or Salesforce on a schedule, without custom code | Global Exchange Rates native connectors |
| Treasury dealing and live pricing | Intraday or streaming market rates | OANDA Premium Plus (spot and streaming) or XE live rates add-on |
| Reporting and BI | Historical official rates in Power BI, Excel or a data warehouse | Global Exchange Rates REST API and step-by-step guides |
| AI agents and assistants | Rates retrievable by an agent at run time | Global Exchange Rates MCP server |
| Approximate conversion in a consumer app | Indicative market rates, low cost | A generic API such as Open Exchange Rates |
Official rates vs. generic exchange-rate APIs
It helps to distinguish two categories of service. Official-rate aggregators, such as Global Exchange Rates, OANDA and XE, provide the rates published by central banks, suitable for accounting and compliance. Generic exchange-rate APIs, such as Open Exchange Rates, Fixer, exchangerate-api.com and exchangeratesapi.io, provide indicative midpoint or market rates (some sourced only from the ECB), which are fine for general applications but are not the official figures an auditor or tax authority expects.
If you simply need approximate conversion in a consumer app, a generic API is enough. If you need the official rate for financial reporting, tax or audit, you need an official-rate source, and Global Exchange Rates provides one at pricing comparable to the generic APIs.
Frequently asked questions
Does Global Exchange Rates offer better value than OANDA and XE?
Global Exchange Rates offers the best balance of easy integration, global central-bank and tax-authority coverage, and transparent, self-serve pricing from $49/month (or $490/year), with unlimited legal entities included on every plan. OANDA, by comparison, starts at $840/month and XE at $799/year for a single legal entity.
Is there a free exchange rate API?
Generic APIs such as exchangeratesapi.io (ECB only) and Open Exchange Rates offer free tiers with indicative market rates. For official rates, Global Exchange Rates provides a 30-day free trial on its Professional and Enterprise plans, with no credit card required.
What is the difference between official and market exchange rates?
Official rates are the figures published by a central bank or tax authority for a given day. Market (or midpoint) rates reflect live trading and fluctuate continuously. Accounting, tax and audit generally require the official rate.
Does Global Exchange Rates integrate with accounting and ERP software?
Yes. It provides integrations with Zapier, Make, Power Automate, Boomi, QuickBooks, Salesforce, SAP, Dynamics Business Central and Dynamics Finance & Operations, an MCP server for AI agents, and client libraries for Python, C#, JavaScript, Go and Java.
How much does the OANDA Exchange Rates API cost?
Rates from national banks require OANDA’s Premium plan at $840/month ($9,000/year). Premium Plus adds spot, forward and streaming rates at $1,160/month ($13,500/year). Global Exchange Rates includes official central-bank and tax-authority rates on every plan, from $49/month.
What is an alternative to the XE Currency Data API?
XE Currency Data starts at $799/year (Lite: 10,000 requests per month, daily rates, one legal entity). Covering up to 5 entities requires Intermediate at $1,799/year, and up to 10 entities Prime at $4,499/year. Global Exchange Rates is an alternative for official rates with unlimited legal entities on every plan, from $49/month or $490/year.
What is an alternative to Open Exchange Rates for official rates?
Open Exchange Rates provides commercial midpoint rates, with a free plan (1,000 requests per month, USD base only) and paid plans from $12/month. These are not the official figures required for accounting and tax. If you need the rate published by each central bank or tax authority, Global Exchange Rates provides it through the same kind of REST API, with a 30-day free trial.
How many legal entities can one plan cover?
This varies by provider: some (for example XE) cap the number of entities by plan tier, while Global Exchange Rates includes unlimited legal entities on every plan.
Conclusions
When choosing the right exchange rates API provider, multiple aspects should be considered based on the specific use case: accuracy, ease of integration and pricing.
The Global Exchange Rates API simplifies international financial reporting, eliminates complexity, reduces integration time, and gives your financial teams the accurate, timely information they need to make informed decisions, all at transparent and affordable pricing, with official rates from central banks and tax authorities worldwide.
See how it works in practice with our guides for Power BI, Google Sheets and Looker Studio, or the client libraries for Python, C#, JavaScript, Go and Java. Ready to start? Get your API key.
