How can one effectively maintain currency exchange rates in PHP?

To effectively maintain currency exchange rates in PHP, one can utilize an API that provides real-time exchange rate data and store this data in a database for easy access and retrieval. By regularly updating the exchange rates in the database, one can ensure that the rates remain accurate and up-to-date for use in currency conversion calculations. 

// Example code snippet to fetch exchange rates from an API and store them in a database

// Fetch exchange rates from API
$api_url = 'https://api.exchangeratesapi.io/latest';
$data = file_get_contents($api_url);
$rates = json_decode($data, true)['rates'];

// Store exchange rates in database
$servername = "localhost";
$username = "username";
$password = "password";
$dbname = "exchange_rates";

$conn = new mysqli($servername, $username, $password, $dbname);

foreach ($rates as $currency => $rate) {
    $sql = "INSERT INTO rates (currency, rate) VALUES ('$currency', $rate)";
    $conn->query($sql);
}

$conn->close();

Keywords

API integration currency conversion PHP libraries data validation error handling

Related Questions