What is a Currency Exchange Rate API?

Description

A currency exchange rate API allows your application to retrieve current exchange rates between different currencies. These APIs provide exchange rate data, which is often updated in real-time, or at least at frequent intervals. Some APIs offer historical exchange rate data, while others provide conversion features, allowing you to calculate the equivalent value of one currency in terms of another.
A currency JSON API typically returns the data in JSON format, which is easy to parse and integrate into your application. This enables developers to create a dynamic system that adjusts to currency fluctuations without manually updating exchange rates.