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converting_currencies.md

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🔁💲 Converting currencies

The following methods allow to convert currencies from one to another.

👀 See here for full details about rate exchangers.

For example:

USD -> RUB = 75.79 / 1
RUB -> USD = 1 / 75.79

⚠️ It is worth mentioning that converting forward and backward with the same exchange rate may lead to different results because of losing precision.

Methods

convertTo(Currency|string $currency, [?Carbon $date = null])

Parameters:

  1. Currency|string $currency - currency you want to convert to.
  2. [?Carbon $date = null] (optional) - historical mode. Pass the date you want to get rate of.

Returns: Money - new money instance.

offlineConvertTo(Currency|string $currency, string $rate)

Parameters:

  1. Currency|string $currency - currency you want to convert to.
  2. string $rate - a rate by which monetary object will be multiplied.

Returns: Money - new money instance.

Exceptions

  1. CurrenciesNotSupportedByRateExchangerException - is thrown when $currency argument is not supported by an API rate exchanger.
  2. RateExchangerException - is thrown when $date argument is in the future. This also may be thrown because of API rate exchanger problems.

Usage

🌐 Online converting

In order to convert currencies with real-time rate.

$rub = money_parse('1000', 'RUB');

$usd = $rub->convertTo('USD');
$backRub = $usd->convertTo(currency('RUB'));

// may be true or false depending on API
// or delay between requests or loosing precision
$rub->equals($backRub);

🏛️ Historical mode

To convert currencies according to the exact date.

use Carbon\Carbon;

$rub = money_parse('1000', 'RUB');

$usd = $rub->convertTo('USD');
$historicalUsd = $rub->convertTo('USD', Carbon::createFromDate(2010, 4, 27));

$usd->equals($historicalUsd); // false

📵 Offline converting

For converting offline, you need to know the rate.

$rate = 75.32;
$rub = money_parse('1000', 'RUB');

$usd = $rub->offlineConvertTo('USD', 1 / $rate);
$backRub = $usd->offlineConvertTo('RUB', $rate / 1);

$rub->isSameCurrency($usd);     // false
$rub->isSameCurrency($backRub); // true
$rub->equals($backRub);         // may be true or false because of loosing precision

📌 Back to the contents.