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Currency Rates API

currencyscoop.com

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Re: Currency Rates API

#21

Post by [deleted] »

samdung wrote: post #16
dclusin wrote: post #3

Earlier quoted context omitted.

Amen. The forex market is very different than the stock market. FX is relationship driven. What this means is that the prices you can get are based on the relationship you negotiate with your provider. When Forex prices flash across cspan or similar they are typically quoting the interbank offered rate. Retail traders don’t get anything close to this rate. You usually go through several intermediaries who each add a…

100% agree. I always get the best rate by picking up the phone and talking to my relationship manager at my bank.

[deleted]

Re: Currency Rates API

#22

Post by dclusin »

Scoundreller wrote: post #13
dclusin wrote: post #6

Earlier quoted context omitted.

I guess it depends on what your requirements are. I’m not too knowledgeable on the pricing side but your price increases/decreases as you noticed aren’t linear and vary based on the amount you’re buying or selling. Buying or selling currencies from a trading partner exposes them to fluctuations in that currency so they’re going to need to be compensated to cover their trading costs like hedgeing (if your transactions…

All valid concerns. It's funny how much was based on LIBOR when it provided zero indication of depth-of-market for the banks feeding it numbers.

Yeah. As far as my limited knowledge goes on pricing, I don't believe LIBOR had a direct impact on fx rates. FX forwards and swaps are more impacted by the interest rate on treasury bills. LIBOR & EURIBOR would have an effect on interest rates on money being lent to people doing carry trades for example. But I don't think that it would affect pricing of the underlying trades afaik. Maybe a trader can chime in.
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