Hi there
I am not sure how to do this, but I need some data (for some program I am writing) to determine what is 100 pips in a currency convesion (or to make it easier 1 pip, but 100 will be simpler to demonstrate).
For example,
On USD/JPY the current rate might be 106.875 and if I wanted to know what the rate was plus 100 pips, it would be 107.875
For EUR/USD, the current rate might be 1.13620 and if I wanted to know what the rate was plus 100 pips, it would be 1.14620
Note that in both cases, the numeral beyond the decimal which changes when you add 100 pips is different (even whether it's before or after the decimal is different).
What I want is some kind of data point for all currencies which tells me where the position of this number is in any arbitrary exchange rate.
Is there something like this which exists? Would the number of decimals a service like https://openexchangerates.org/ uses for a currency conversion be consistent to pips? For example, I've noticed for some currency pairs they have always 2 decimals after the digit which indicates 1 pip, but I don't know if it's consistent across all of them.
I am not sure how to do this, but I need some data (for some program I am writing) to determine what is 100 pips in a currency convesion (or to make it easier 1 pip, but 100 will be simpler to demonstrate).
For example,
On USD/JPY the current rate might be 106.875 and if I wanted to know what the rate was plus 100 pips, it would be 107.875
For EUR/USD, the current rate might be 1.13620 and if I wanted to know what the rate was plus 100 pips, it would be 1.14620
Note that in both cases, the numeral beyond the decimal which changes when you add 100 pips is different (even whether it's before or after the decimal is different).
What I want is some kind of data point for all currencies which tells me where the position of this number is in any arbitrary exchange rate.
Is there something like this which exists? Would the number of decimals a service like https://openexchangerates.org/ uses for a currency conversion be consistent to pips? For example, I've noticed for some currency pairs they have always 2 decimals after the digit which indicates 1 pip, but I don't know if it's consistent across all of them.