Representing FX rates within Xflow

Hello world, meet the ExchangeRate object in Xflow . Given that we build cross-border payments infrastructure which has to already manage FX conversions between 10+ currencies, the ExchangeRate object plays a key role in how FX rates are represented within Xflow. Let's take a closer look at this object.

As you can see, the above ExchangeRate object provides us with the following information:

• On one side, INR 1600.57 was bought, and on the other, USD 19.65 was sold. But how do we know which side initiated the transaction? This is represented by the dealt currency, which in this case is USD. This means that Xflow sold USD 19.65 and received INR 1600.57
• The FX conversion rate is represented by the user FX rate (you can see here that 19.65 * 81.454 = 1600.57). Xflow always provides the mid-market FX rate so that you can transparently compare the FX rate at which Xflow converts your funds
• Regular readers will remember that a while ago, I wrote about the Payments object within Xflow . Payments and ExchangeRates are related. Payments that involve currency conversion create an ExchangeRate object. As a result, ExchangeRates exist at a lower-level of abstraction than Payments. Consequently, an ExchangeRate object has an associated Payment identifier parameter
• The validity of the ExchangeRate object is specified by the valid from and to parameters

Xflow's FX rates are directly sourced from our banking partners. We take pride in ensuring up to date, competitive and transparent FX rates for all our users.

You can find extensive documentation about the Xflow ExchangeRate object here .