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If you have tried to search for currency exchange rate APIs, chances are that it has not been a smooth experience. While there are plenty of currency conversion websites, getting access to up-to date exchange rates to power your financial applications has usually gotten stalled due to high usage fees. Some services charge in the hundreds of dollars per year to get access to these rates. If CurrencyBot and the Open Source Exchange Rates API project has its way, this could be a problem of the past.
You might not expect a company nearly 160 years old to innovate its industry. Perhaps that's why Thomson Reuters is looking to developers to create the next big thing for financial professionals. To get there, the company is sharing mountains of data via its new Knowledge Direct API and offering $25,000 in prizes for its app contest.
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