Overview

PayMongo Forex is a programmable foreign exchange (FX) API that enables your platform to fetch live FX rates, store historical quotes, and perform currency conversions at scale. Designed to support global operations, PayMongo Forex polls trusted FX providers regularly and stores exchange rates in a secure database—empowering your business to convert currencies with precision and traceability.

With planned support for full quote lifecycle management (CRUD) and on-demand conversion, PayMongo Forex gives you control over how and when foreign exchange is applied to your transactions.

Key Features

• Live FX Rate Polling
  Continuously updates rates by polling reliable FX sources to provide accurate and real-time exchange data.
• Currency Conversion
  Use stored FX quotes to convert from one currency to another—ideal for cross-border payments, pricing, or settlements.
• Historical Quote Storage
  Access historical FX data to support financial reconciliation, audits, and backdated conversions.
• Quote Management (Coming Soon)
  Create, read, update, and delete FX quotes via API—enabling custom control over FX logic per use case.
• Accurate and Auditable
  Each quote and conversion is stored and traceable, allowing you to build transparent, audit-ready financial systems.
• API-First Architecture
  Integrate seamlessly with your treasury systems, pricing engines, or global payout workflows via modern RESTful APIs.

Use Cases

• Cross-Border Pricing
  Fetch real-time rates to dynamically price goods or services in a buyer’s local currency.
• Instant FX Conversion for Global Payouts
  Convert funds from your base currency to the recipient's local currency at the moment of disbursement.
• Multi-Currency Wallet Operations
  Enable users to hold balances in one currency and convert or transact in another using accurate and stored rates.
• Subscription Billing in Local Currencies
  Store FX quotes at the time of subscription and apply them to recurring invoices for consistent billing logic.
• Treasury & Reconciliation
  Use historical quotes to match internal FX conversions with actual settled rates, improving financial reporting and audit trails.