Official Foreign Exchange Rates are crucial for businesses and individuals involved in international transactions and for working out tax obligations.
The Official Foreign Exchange Rates service provides daily updates on central bank and other official bodies published FX rates, ensuring timely and accurate information. It measures the value of the domestic currency against another currency, highlighting their relative values.
EDI takes pride in providing the OFER rate service, offering efficient and tailored solutions to meet individual customer needs. This service features over 3200 OFER rates, including Close, BID, ASK, and MID prices according to the source, alongside comprehensive historical data.
Why are Official Foreign Exchange Rates data important?
Official Foreign Exchange Rates data is crucial for several reasons:
Economic Stability: It helps maintain economic stability by providing a benchmark for currency values, which is essential for international trade and investment.
Business Planning: Companies use this data to plan their international operations, manage currency risk, and set prices for goods and services in different markets.
Government Policy: Governments and central banks use exchange rate data to formulate monetary policies, manage inflation, and stabilize their economies.
Taxation and Compliance: Essential for calculating taxes, duties, and tariffs accurately.
Investment Decisions: Investors rely on accurate exchange rate data to make informed decisions about foreign investments, currency trading, and portfolio management.
Travel and Remittances: Individuals use exchange rate information for travel expenses, sending money abroad, and converting currencies for personal use.
Why use EDI Official Foreign Exchange Rates data?
Accurate and timely exchange rate data is the backbone of global commerce, ensuring international trade, monetary policies, business planning, personal financial decisions, and robust investment returns. Relying on trusted and high-quality FX data is crucial to minimize risks. EDI’s OFER data offers daily official exchange rates for over 1900 currency pairs, coupled with historical for well-informed decision-making.
Who can use EDI Official Foreign Exchange Rates data?
Corporate treasury departments, Investment banks, portfolio asset managers, institutional foreign investors, brokers and dealers, investment managers, fintech companies, analytical solution providers, and hedge fund management companies can all utilize EDI’s Official Foreign Exchange Rates data. If you belong to any of these groups, you can access EDI’s data to improve your decision-making skills and operations.
How can EDI Official Foreign Exchange Rates data help you?
EDI’s cost-effective and accurate Official Foreign Exchange Rates data, covering over 90 currencies, 1900 currency pairs, and 3200 rates. Our end-of-day pricing data adds immediate value to your business, whether you’re involved in business planning, currency risk management, foreign investment decisions, financial transactions, FX market analysis, or developing financial market data technology. Enhance your use case and achieve superior results with EDI data.
How is the EDI Official Foreign Exchange Rates data set structured?
The Official Foreign Exchange Rates, gathered from central banks and other official bodies, are organized into BID, ASK, MID, and Close prices, based on the source and service. This data spans over 90 countries and includes 15 specific data fields detailed below.
Coverage: 90 countries, 15 fields, 3200 Official Foreign Exchange Rates.
