check_rate.js

/**
 * This is JavaScript implementation of the
 * {@link https://www.currencycloud.com/developers/cookbooks/ Currency Cloud API v2.0 Cookbook} example.
 * Additional documentation for each API endpoint can be found at {@link https://www.currencycloud.com/developers/overview}.
 * If you have any queries or you require support, please contact our Support team at {@link support@currencycloud.com}.
 */

'use strict';

let currencyCloud = require('../lib/currency-cloud');
const opts = {
  retries: 3,
  factor: 2,
  minTimeout: Math.random() * 750,
  maxTimeout: Math.random() * 30000 + 30000,
  randomize: true,
  log: true
};

let checkRate = {
  getRates: {
    currencyPair: "EURGBP"
  },
  getQuote: {
    buyCurrency: "EUR",
    sellCurrency: "GBP",
    amount: 10000,
    fixedSide: "buy"
  }
};

/**
 * Check foreign exchange rates
 * A foreign exchange (FX) rate is a rate at which one currency is exchanged for another. For example, an exchange rate of
 * 114 Japanese Yen to the US Dollar means that ¥114 can be bought for US$1, or US$1 can be bought for ¥114.
 *
 * Currencycloud provides two web services for checking foreign exchange rates. In this cookbook, you will:
 *
 * 1. Use Currencycloud’s basic rate lookup service to get basic foreign exchange rate information for a pair of
 * currencies.
 * 2. Use Currencycloud’s detailed rate lookup service to get a full quotation for converting money from one currency
 * to another.
 */

/**
 * 1. Authenticate using valid credentials.
 * If you do not have a valid Login ID and API Key, you can get one by registering at
 * {@link https://www.currencycloud.com/developers/register-for-an-api-key/}
 */

let login = () => {
  return currencyCloud.retry(
    () => {
      return currencyCloud.authentication.login({
        environment: 'demo',
        loginId: 'development@currencycloud.com',
        apiKey: 'deadbeefdeadbeefdeadbeefdeadbeefdeadbeefdeadbeefdeadbeefdeadbeef'
      });
    },
    opts,
    "currencyCloud.authentication.login"
  );
};

/**
 * 2: Get basic exchange rate information
 *  Currencycloud’s Get Basic Rates endpoint provides real-time exchange rate data.
 *
 *  Quotes are given on currency pairs. A currency pair is two standard currency codes joined together: “EURUSD”, “GBPUSD”,
 * “GBPJPY”, etc. The first currency in the pair is the base currency. The second is the quote currency. The result
 * indicates how much of the quote currency is needed to buy one unit of the base currency.
 *
 * For example, to find out how many Pound Sterling (GBP) are needed to buy EUR €1.00, make the following call. Note the
 * use of the currency pair “EURGBP”.
 */

let getRates  = () => {
  return currencyCloud.retry(
    () => {
      return currencyCloud.rates.find(checkRate.getRates)
        .then((res) => {
          console.log('getRates: ' + JSON.stringify(res, null, 2) + '\n');
        });
    },
    opts);
};

/**
 * The two rates in the response are the “bid” and “offer” prices. The bid price is applicable if you are selling the base
 * currency. The offer rate is applicable if you are buying the base currency.
 */

/**
 * 3. Get a detailed quote
 * To find out exactly how much it will cost you to trade funds in one currency for another, use Currencycloud’s
 * Get Detailed Rates endpoint. For example, to get a quote to buy 10,000 Euros using funds from your Pound Sterling
 * balance, make the following call:
 */

let getQuote = () => {

  return currencyCloud.retry(
    () => {
      return currencyCloud.rates.get(checkRate.getQuote)
        .then((res) => {
          console.log('getQuote: ' + JSON.stringify(res, null, 2) + '\n');
        });
    });
};

/**
 * On success, the response payload will contain details of Currencycloud’s quotation to make the conversion.
 *
 * When you fetch exchange rate information from the Get Basic Rates endpoint, the returned currency pair string will match
 * exactly the value of the currency_pair input parameter. However, when you get a quote from the Get Detailed Rates
 * endpoint, the value of the currency_pair property in the response will be standardised, adhering to market conventions
 * for currency pair notation.
 *
 * It is conventional to represent a pairing of Euros to Pound Sterling as “EURGBP”, never “GBPEUR”, regardless which of
 * the two currencies you are buying and selling. By default, the least valuable currency is the second unit in a currency
 * pair. But there are some exceptions. If any of the following currencies are quoted against each other, then the currency
 * appearing first in the list will be the first in the currency pair.
 *
 * – EUR
 * – GBP
 * – AUD
 * – NZD
 * – USD
 */

/**
 * 4. Logout
 * It is good security practice to retire authentication tokens when they are no longer needed, rather than let them
 * expire. Send a request to the Logout endpoint to terminate an authentication token immediately.
 */

let logout = () => {
  return currencyCloud.authentication.logout()
    .then(() => {
      console.log('logout\n');
    });
};

login()
  .then(getRates)
  .then(getQuote)
  .then(logout)
  .catch((err) => {
    if (err instanceof currencyCloud.APIerror) {
      console.log(err.toYAML());
    }
    else {
      console.log(err);
    }
  });