Per the request of one of our clients, our team created the ability to automatically update foreign currency conversions, including such currencies as the Malaysian ringgit and the Vietnamese dong. We are even able to keep up with such foreign currencies that most people have never heard of!
After doing research on all the existing options of maintaining the ever-changing foreign currency rates, we selected Yahoo Finance due to its ability to offer the widest selection of currencies. Then we created our own algorithm of keeping the latest currency rates.
In order to do this properly, our team utilized CRON software. Yahoo Finance updates its currency rates so frequently that we were able to set our settings to update every minute, in order to allow our users to see the latest rates.
Additionally, we explored the possibility of being able to customize the currency rates by the administrator. We fashioned the interface in such a way so as to allow the administrator to see the current rates, as well as to be able to enter a customized value. The administrator is able to see both values for each currency and to switch back and forth between them.
All currency values are set in System Settings. For example, on the screenshot, you can see the value of the Hong Kong dollar.
This project required us to push our own boundaries and to familiarize ourselves with the existing methods of receiving data in the area of foreign currencies, as well as to expand our vocabulary and knowledge of this subject overall. Our developers are now considering an opportunity to invest in some ringgits or dongs for themselves!