Foreign Exchange Rate

Learn about Foreign Exchange Rates

The foreign_exchange_rate object is how Modern Treasury represents exchange rate information between two currencies with high precision.

The rate itself is not a resource that can be queried for, but will serialized as part of the object it applies to. Modern Treasury will automatically attach foreign_exchange_rate data to relevant objects when we can. For example, an FX Payment Order that has been transmitted to the bank, may have a foreign_exchange_rate object describing the final rate applied to the payment. Similarly, a Foreign Exchange Quote will have a foreign_exchange_rate object describing the rate being quoted.

See the Foreign Exchange Rate API reference for more details on the object.

The exchange rate is stored as two integer components: its value and exponent. The decimal rate is computed as value / (10 ^ exponent). For example, a USD to EUR rate of 0.93 would be represented as:

  "base_currency": "USD",
  "base_amount": 100,
  "target_currency": "EUR",
  "target_amount": 93,
  "value": 93,
  "exponent": 2,
  "rate_string": "0.93"

When displaying the rate to users, or elsewhere in your system, consider using the provided rate_string.