Exchange Rate API vs CurrencyLayer

CurrencyLayer: Dated Architecture, Hidden Costs

CurrencyLayer (now part of APILayer) has been a popular currency API for years. However, its pricing structure includes significant limitations on lower tiers: no HTTPS on the free plan, hourly updates instead of real-time on basic plans, and USD-only base currency unless you pay for their Professional tier at $59.99/month.

Exchange Rate API delivers Reuters-sourced mid-market rates with HTTPS on every plan, any base currency on all tiers, and 60-second updates. No hidden limitations, no surprise paywalls for basic features.

Pricing at a Glance

Detailed Comparison

Key Advantages of Switching

Save 66% or more on your monthly bill. CurrencyLayer's Basic plan ($14.99/mo) comes with severe limitations: no HTTPS, hourly updates, and USD-only base currency. Exchange Rate API's $4.99/month plan includes all features with no artificial restrictions.

Get real-time data, not stale rates. CurrencyLayer updates hourly on their Basic plan and every 10 minutes on Professional. Exchange Rate API updates every 60 seconds on all paid plans, sourced directly from Reuters/Refinitiv interbank feeds.

Use any base currency from day one. CurrencyLayer locks base currency switching behind their $59.99/month Professional plan. Exchange Rate API supports any base currency on every plan, including the free tier.

Official SDKs for faster integration. Exchange Rate API provides official SDKs for JavaScript, Python, PHP, and React. CurrencyLayer relies on community-maintained libraries with no official support.

Migration Guide

Switching from CurrencyLayer to Exchange Rate API takes minutes. Here is a quick example showing how to update your code:

// Before: CurrencyLayer
const response = await fetch(
  'http://api.currencylayer.com/live?access_key=YOUR_KEY&source=USD'
);

// After: Exchange Rate API
const response = await fetch(
  'https://api.exchange-rateapi.com/v1/latest?base=USD',
  { headers: { 'Authorization': 'Bearer YOUR_API_KEY' } }
);

// Or use our official SDK:
import { ExchangeRateAPI } from 'exchange-rateapi';
const client = new ExchangeRateAPI('YOUR_API_KEY');
const rates = await client.latest('USD');

Frequently Asked Questions

Is CurrencyLayer free?

CurrencyLayer offers a free plan, but it is heavily limited: 100 requests per month, no HTTPS encryption, USD-only base currency, and hourly updates. Exchange Rate API's free tier offers 300 requests/month with HTTPS, any base currency, and 60-second updates.

How do I migrate from CurrencyLayer?

Sign up for a free Exchange Rate API key, update your endpoint URL and authentication header, and adjust your response parsing. Our JSON response format is clean and well-documented. Most developers complete the migration in under 30 minutes using our official SDKs.

What's cheaper than CurrencyLayer?

Exchange Rate API is significantly more affordable. Our paid plans start at $4.99/month (vs $14.99/month for CurrencyLayer Basic), and include features like HTTPS, any base currency, and 60-second updates that CurrencyLayer charges $59.99/month or more to access.

Does Exchange Rate API support the same currencies as CurrencyLayer?

Yes. Exchange Rate API supports 160+ currencies including all major, minor, and exotic pairs. CurrencyLayer supports 168 currencies. Both services cover all commonly needed currency pairs for international business applications.