Categories -- Computers -- Business Software

How to use a historical exchange rate api

There are many reasons why a business might need to use historical exchange rates. For example, a business might want to convert historical currency values into current values. They might want to take a series of transactions and apportion them between different currencies, such as when a business obtains some goods in one currency, sells them in another, and then deposits the proceeds in a third. A company might even want to analyze the historical performance of a foreign subsidiary to see whether it is truly profitable. The business world is starting to realize the power of open data. The historical exchange rate API from BigML.com is a great example of how to make it happen.

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