OANDA Currency Conversion

What is the OANDA Currency Converter

OANDA, a reliable online trading broker that provides a platform for financial trading, also offers currency conversion services for traders and investors. The OANDA Currency Converter is an online financial technology tool that allows users to convert one currency to another at the prevailing exchange rate. It offers a convenient way for users on the platform to access the value of different currencies.

Here are some reasons why the OANDA Currency Converter is a great choice for traders and investors:

• Trusted Platform:

OANDA is a globally trusted financial service provider, operating since 1996 in the financial markets. The OANDA Currency Converter stands out for its reliability and accuracy in providing currency exchange rates.

• Credible and Transparent: 

OANDA stands out for its commitment to transparency. The platform provides accurate and real-time exchange rates directly from interbank markets.

• Years of Historical Data: 

OANDA offers access to historical exchange rate data, which can be valuable for traders, investors, or companies in making informed decisions.

• Affordability: 

The OANDA Currency Converter is available free to the public. Therefore, traders and investors can use the currency converter on the platform at will and without a cost.

How to Use the Currency Converter

• Open the OANDA Currency Converter on the platform, or simply click on https://www.oanda.com/currency-converter/en/?from=USD&to=GBP&amount=1

• Enter the base and target currencies in the relevant field to get the conversion rate.

OANDA Currency Converter

What is a Historical Currency Converter?

The ONDA historical currency converter is a web-based tool that provides the historical exchange rate data between different currencies in the past. It offers the historical exchange rate data across 38,000 currency pairs for any specified date up to 1990.

Here’s how to use the OANDA historical currency converter:

• Go to the OANDA “Historical Exchange Rate” section on the OANDA official website (https://www.oanda.com/fx-for-business/historical-rates).

• Choose the currency you want to convert from (Currency I Have) and the currency you want to convert to (Currency I Want).

• Specify the dates for the historical exchange rates you want to retrieve.

OANDA Historical Currency Converter

The tool will generate the historical exchange rates for the specified dates in a table format.

OANDA Historical Currency Converter

Finally, OANDA allows users to export the historical exchange rate data in Comma-Separated Values (CSV) for analysis. However, this feature is available only on premium plans.

Benefits of Historical Currency Data:

• Financial Analysis:

Historical currency data is valuable for financial analysis and research. It assists investors and traders in identifying trends, patterns, and correlations, aiding in objectively forecasting the future currency movement.

• Performance and Evaluation:

Historical currency data helps companies to evaluate the performance of their investments or business activities in different currencies.

• Accounting and Financial Reporting:

Finally, historical currency data assists businesses and investors in financial analysis and accounting purposes.

Pricing options

OANDA provides different access levels for accessing the historical currency data on the platform. Here are the levels below:

• Free

OANDA historical currency data can be accessed freely, even without signing up on its website. Traders or investors can simply visit the OANDA official website and access the historical currency data at no cost. It allows users to compare quotes for up to 10 currencies.

However, free access comes with some limitations, like restrictions in processing some frequency data requests, depth of historical data, and type of data available. Besides, the free access mode does not support the download of historical currency data to Comma-Separated Values (CSV) files.

• Pro License

This option provides more advanced features, increased data access, and higher usage limits than the free access. It comes with a subscription fee of $75/per month or $750/per year. The Pro License option gives users access to over 31 years of historical data, access to exchange from over 50 central banks, and enables the download of historical data to CSV files.

• Multi-Seat License

The Multi-Seat license option is suitable for larger institutions and businesses that require multiple accesses for multiple users. This plan also allows users (companies in this case) access to over 31 years of historical data and access to exchange rates from over 50 central banks. It also enables users to download the historical currency data to a CSV file and allows multiple companies to add multiple members and counts.

In conclusion, the OANDA Currency Converter stands out as a reliable and transparent tool, offering users a trusted platform for real-time exchange rates. The currency converter allows easy and free access to the exchange rate value of different currencies, benefitting traders and investors.