Visa Foreign Exchange API response rate seems not correct.

[cbinton]

Hey, team,

I want to test the FX API v2, https://sandbox.api.visa.com/forexrates/v2/foreignexchangerates

My request body:

{

"acquirerDetails": {

"bin": 408999,

"settlement": {

"currencyCode": "840"

}

},

"rateProductCode": "A",

"markupRate": "0.00",

"destinationCurrencyCode": "124",

"sourceAmount": "1000",

"sourceCurrencyCode": "840"

}

Response Body:

{

"conversionRate": "1.298430",

"destinationAmount": "1298.43",

"rateProductCode": "B",

"acquirerDetails": {

"settlement": {

"currencyCode": "840",

"amount": "1000.00",

"conversionRate": "1.000000"

}

}

}

All looks good except the rate "conversionRate", when I search on google or use Visa' FX calculator, it should be around 1.35, but why this API responses with such a lower rate? Thanks.

[jenn_kh]

Thank you for your question, @cbinton. An agent will get back to you as soon as possible. In the meantime, if any community member knows the solution, please reply here. -Jenn

[I_Doroteo3]

Hi @cbinton, 

Thanks for your patience.

The FX Rate API is intended to be used for Visa Direct Original Credit Transactions, so the rates are associated with this type of transaction, meaning it's not for purchase. The FX calculator is used for purchase rates.

Hope this clarifies things!

Thanks, 

Illana