67 lines
2.4 KiB
Markdown
67 lines
2.4 KiB
Markdown
# Check transfer rates
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This endpoint helps you understand transfer rates when making international transfers
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```php
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<?php
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$data = [
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'amount' => 1000,
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'destination_currency' => 'USD',
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'source_currency' => 'NGN'
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];
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$transfer = Flutterwave::transfers()->getTransferRate($data);
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dd($transfer);
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```
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## Parameters
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| Parameter | Required | Description |
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| --------- | -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
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| amount | True | This is the amount to transfer to the recipient. |
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| destination_currency | True | This is the wallet / currency you are making a transfer to. |
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| source_currency | True | This is the wallet / currency to be debited for the transfer. |
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::: warning This endpoint helps you calculate rates when making international transfers
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John owes Paul $1000.
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John only has money in his Flutterwave NGN wallet.
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So he wants to send $1000 to Paul's but he wants Flutterwave to debit his NGN wallet for it.
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But first, John would like to know exactly how much in Naira is $1000.
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So he makes a request to this endpoint, with this object :
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```php
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$data = [
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'amount' => 1000,
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'destination_currency' => 'USD',
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'source_currency' => 'NGN'
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];
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```
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Which basically means "How much will it cost me to send $1000 from my NGN wallet to Paul?" Here's the response:
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```php
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[
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"status" => "success",
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"message" => "Transfer amount fetched",
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"data" => [
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"rate" => 415.264373,
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"source" => [
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"currency" => "NGN",
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"amount" => 415264.373
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],
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"destination" => [
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"currency" => "USD",
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"amount" => 1000
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]
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]
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]
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```
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The response tells John that "If you are sending $1000 from your NGN wallet to Paul, it will cost you NGN415,264.373"
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This is one of the use cases for this endpoint. To help you understand the transfer rates when you are sending money across different currencies.
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DISCLAIMER: This endpoint should NOT be used to determine FX rates from the central bank. Refer [here](https://www.abokifx.com/) for rates.
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:::
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