Visa Foreign Exchange API response rate seems not correct.

cbinton
Helper

Visa Foreign Exchange API response rate seems not correct.

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.
 
 
2 REPLIES 2
jenn_kh
Community Moderator

Re: Visa Foreign Exchange API response rate seems not correct.

Thank you for your question, @cbintonAn 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
Visa Developer Support Specialist

Re: Visa Foreign Exchange API response rate seems not correct.

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