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Overview

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Exchange Rate Management

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Real-Time Exchange Rates

• Dynamic Rates: Access to real-time currency exchange rates
• Multiple Sources: Aggregated rates from multiple financial data providers
• Rate Caching: Intelligent caching for optimal performance
• Historical Data: Access to historical exchange rate data

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Supported Currencies

• Major Currencies: USD, EUR, GBP, JPY, CAD, AUD, CHF
• Regional Currencies: INR, BRL, MXN, CNY, KRW, SGD
• Cryptocurrency: BTC, ETH, USDT, USDC (where applicable)
• Emerging Markets: Support for 150+ global currencies

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Multi-Currency Transactions

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Currency Conversion

• Automatic Conversion: Real-time conversion at point of sale
• Rate Transparency: Clear display of exchange rates to customers
• Conversion Fees: Transparent fee structure for currency conversion
• Settlement Currency: Flexible settlement in merchant’s preferred currency

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Cross-Border Payments

• Global Reach: Process payments in local currencies worldwide
• Regulatory Compliance: Adherence to local financial regulations
• Tax Handling: Automatic tax calculation for cross-border transactions
• Reporting: Comprehensive reporting for international transactions

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Exchange Rate API Features

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Rate Retrieval

// Get current exchange rates
const rates = await fetch('/api/exchanges/rates', {
  method: 'GET',
  headers: {
    'Authorization': 'Bearer ' + accessToken,
    'Content-Type': 'application/json'
  },
  params: {
    base: 'USD',
    target: ['EUR', 'GBP', 'JPY'],
    amount: 100.00
  }
});

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Historical Rates

// Get historical exchange rates
const historicalRates = await fetch('/api/exchanges/historical', {
  method: 'GET',
  headers: {
    'Authorization': 'Bearer ' + accessToken,
    'Content-Type': 'application/json'
  },
  params: {
    base: 'USD',
    target: 'EUR',
    date: '2024-01-15',
    period: '7d'
  }
});

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Rate Alerts

// Set up rate alerts
const alert = await fetch('/api/exchanges/alerts', {
  method: 'POST',
  headers: {
    'Authorization': 'Bearer ' + accessToken,
    'Content-Type': 'application/json'
  },
  body: JSON.stringify({
    baseCurrency: 'USD',
    targetCurrency: 'EUR',
    threshold: 0.85,
    direction: 'below',
    notificationUrl: 'https://yoursite.com/webhooks/rate-alert'
  })
});

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Transaction Processing

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Multi-Currency Payments

• Dynamic Pricing: Display prices in customer’s local currency
• Real-Time Conversion: Convert amounts at current market rates
• Rate Locking: Option to lock exchange rates for specific periods
• Settlement Options: Choose settlement currency per transaction

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Currency-Specific Features

• Decimal Precision: Proper handling of currency-specific decimal places
• Rounding Rules: Compliance with local rounding regulations
• Minimum Amounts: Respect minimum transaction amounts per currency
• Maximum Limits: Enforce maximum transaction limits per currency

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Risk Management

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Exchange Rate Risk

• Rate Volatility: Monitor and manage exchange rate volatility
• Hedging Options: Available hedging strategies for rate protection
• Risk Alerts: Automated alerts for significant rate movements
• Portfolio Management: Tools for managing currency exposure

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Compliance & Regulations

• AML Compliance: Anti-money laundering checks for cross-border transactions
• KYC Requirements: Know Your Customer verification for international payments
• Regulatory Reporting: Automated reporting for regulatory compliance
• Sanctions Screening: Real-time sanctions list screening

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Integration Examples

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Payment with Currency Conversion

// Create payment request with currency conversion
const paymentRequest = {
  amount: 100.00,
  currency: 'USD',
  customerCurrency: 'EUR',
  exchangeRate: 0.85,
  convertedAmount: 85.00,
  conversionFee: 1.50,
  totalAmount: 86.50
};

const payment = await fetch('/api/payment-requests', {
  method: 'POST',
  headers: {
    'Authorization': 'Bearer ' + accessToken,
    'Content-Type': 'application/json'
  },
  body: JSON.stringify(paymentRequest)
});

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Multi-Currency Reporting

// Generate multi-currency transaction report
const report = await fetch('/api/reports/transactions', {
  method: 'GET',
  headers: {
    'Authorization': 'Bearer ' + accessToken,
    'Content-Type': 'application/json'
  },
  params: {
    startDate: '2024-01-01',
    endDate: '2024-01-31',
    currencies: ['USD', 'EUR', 'GBP'],
    includeConversions: true
  }
});

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Best Practices

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Exchange Rate Management

1. Rate Updates: Implement regular rate update mechanisms
2. Fallback Rates: Have backup rate sources for reliability
3. Rate Validation: Validate rates against multiple sources
4. Performance: Cache rates appropriately for performance

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Customer Experience

1. Transparency: Always show exchange rates to customers
2. Local Pricing: Display prices in customer’s local currency
3. Rate Guarantees: Offer rate guarantees for checkout processes
4. Fee Disclosure: Clearly communicate all conversion fees

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Risk Management

1. Rate Monitoring: Continuously monitor exchange rate movements
2. Exposure Limits: Set limits on currency exposure
3. Hedging Strategy: Implement appropriate hedging strategies
4. Regular Review: Regularly review and update risk parameters

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Supported Exchange Features

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Rate Sources

• Central Banks: Official rates from central banks
• Commercial Banks: Rates from major commercial banks
• Financial Data Providers: Reuters, Bloomberg, Yahoo Finance
• Cryptocurrency Exchanges: Real-time crypto exchange rates

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Rate Types

• Spot Rates: Current market rates for immediate transactions
• Forward Rates: Rates for future settlement dates
• Historical Rates: Past exchange rates for reporting and analysis
• Average Rates: Time-weighted average rates for specific periods

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Monitoring & Analytics

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Exchange Rate Analytics

• Rate Trends: Analyze exchange rate trends over time
• Volatility Analysis: Monitor currency pair volatility
• Conversion Volume: Track currency conversion volumes
• Cost Analysis: Analyze conversion costs and fees

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Performance Metrics

• Conversion Success Rate: Percentage of successful conversions
• Rate Accuracy: Accuracy of exchange rate predictions
• Settlement Time: Time taken for cross-border settlements
• Customer Satisfaction: Feedback on currency conversion experience

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Next Steps