Getting an Indicative Exchange Rate

For this step, we will utilize the Fetch Exchange Rate endpoint provided by the API.

❗️
This step requires the use of Parent API keys exclusively, as the operation is intended to be performed at the EP level.

This endpoint offers a way to display current exchange rates to your EPM on your application without committing to any specific amount. Essentially, it functions as a variation of the create quote endpoint, generating a non-binding quote between two different currencies.

🚧
The query parameter estimate must be set to true when making the request to generate an indicative quote (?estimate=true).

Example Request

To obtain the exchange rate from EUR to USDT, the following request can be made:

{
  "from": "EUR",
  "to": "USDT",
  "payInMethod": "wallet",
  "payOutMethod": "wallet"
}

Let's break down the request body parameters:

Field	Description
from	The currency you are exchanging from.
to	The currency you are exchanging to.
payInMethod	Method for the incoming payment, use `wallet` for transfers into a wallet.
payOutMethod	Method for the outgoing payment, use `wallet` for transfers out of a wallet.

Example Response

The request for the exchange rate from EUR to USDT yields the following response:

{
    "id": null,
    "from": "EUR",
    "to": "USDT",
    "amountIn": 1E+1,
    "amountDue": 1E+1,
    "amountOut": 10.683345,
    "price": 0.9360364193,
    "quoteStatus": "ESTIMATE",
    "paymentStatus": "PENDING",
    "acceptanceExpiryDate": 1708450591633,
    "acceptanceDate": null,
    "paymentExpiryDate": 1708451471395,
    "paymentReceiptDate": null,
    "payInLegs": [],
    "payInMethod": {
        "id": 5,
        "code": "wallet",
        "settlementCurrency": "EUR",
        "requestedCurrency": null,
        "estimatedExchangeRate": null,
        "accountMethods": []
    },
    "payOutMethod": {
        "id": 3,
        "code": "wallet",
        "currency": "USDT",
        "accountMethods": [
            {
                "id": 1456,
                "display": null
            },
            {
                "id": 1665,
                "display": null
            },
            {
                "id": 1892,
                "display": null
            }
        ]
    },
    "uuid": "1072a63e-40ac-45f1-aebc-6d240754b58f",
    "payOutInstruction": null,
    "payInInstruction": null,
    "usePayInMethod": null,
    "usePayOutMethod": null,
    "fee": 0.01000000000000000020816681711721685132943093776702880859375,
    "processingFee": 0E+1,
    "type": "FIXED",
    "netPrice": 0.936036419300000000,
    "grossPrice": 0.936036419300000000,
    "amountInGross": 1E+1,
    "amountInNet": 1E+1,
    "fees": {
        "percentage": {
            "service": 0.0010,
            "processing": 0.0000
        },
        "value": {
            "service": 0.01,
            "processing": 0
        }
    },
    "dateCreated": 1708450571633,
    "lastUpdated": 1708450571633
}

Key fields in the response:

Fields	Description
`id`	null, as this is an estimate quote.
`quoteStatus`	The status of the quote; will be `ESTIMATE` due to the query parameter input.
`uuid`	The UUID of the exchange estimate, which won't be linked to an `id` for an estimate.
`price`	The exchange rate for converting the `from` currency to the `to` currency.
`amountIn`	The amount of the `from` currency used in the estimate, with the default being 10.
`amountOut`	The expected amount of the `to` currency received for the given amountIn.

The price field indicates the current exchange rate, which is approximately 0.93 EUR for 1 USDT.