ActiveCurrency

Rails plugin to retrieve and store the currency rates daily to integrate with the money-rails gem.

Rationale

Storing the current currency rates with ActiveCurrency provides the following advantages:

• Lets you query for the currency rate you actually used in your application at any given time.
• Does not need to call an API to get the rates when starting or restarting your web server.
• Does not depend on the file system to store cached rates.
• Choose how often you want to update the currency rates (daily for example).
• Your users do not suffer the cost of making calls to the bank rates API.
• Your app does not go down when the bank rates API does.

To fetch the current rate it uses your application cache instead of making a call to the database.

Usage

Store the current rate regularly by calling in a scheduled job (using something like sidekiq-scheduler, whenever, or active_scheduler) with the currencies you want to store:

ActiveCurrency::AddRates.call(currencies: %w[EUR USD])

You can then exchange money by using the Money gem helpers:

10.to_money('EUR').exchange_to('USD').cents

If you need to look up the previous currency rates:

ActiveCurrency::Rate.value_for('EUR', 'USD', 1.month.ago)
# => 1.151
ActiveCurrency::Rate.where(from: 'EUR', to: 'USD').pluck(:value)
# => [1.162, 1.162, 1.161, 1.161, 1.163, …]

Installation

Add these lines to your application’s Gemfile:

# Store and retrieve the currency from the database.
gem 'active_currency'

And in config/initializers/money.rb:

MoneyRails.configure do |config|
  config.default_bank = ActiveCurrency::Bank.new
end

Then call bin/rake db:migrate to create the table that holds the currency rates and fill it for the first time.

Fetching rates

Call the following regularly in a scheduled job:

ActiveCurrency::AddRates.call(currencies: %w[EUR USD])

The first currency you give in currencies is considered the default currency against which other currency rates will be guessed if they are unavailable.

Fetching from the European Central Bank

By defaut it uses the eu_central_bank to fill the currency rates.

Fetching from openexchangerates.org

To use the money-open-exchange-rates gem, add the gem to your Gemfile, then add the following to your application’s initializers:

ActiveCurrency.configure do |config|
  config.remote_bank = :open_exchange_rates
  config.open_exchange_rates_app_id = '…'
end

Fetching from a custom bank

You can provide any Money-compatible bank when calling ActiveCurrency::AddRates:

ActiveCurrency::AddRates.call(…, bank: …)

Apply a multiplier

If you want to increase or decrease the currency rates by a given multiplier, you can do so by setting the multiplier option:

ActiveCurrency.configure do |config|
  config.multiplier = {
    ["EUR", "USD"] => 1.01,
  }
end

Tests

In your app test suite you may not want to have to fill your database to be able to exchange currencies.

For that, you can use a fake rate store in your rails_helper.rb:

MoneyRails.configure do |config|
  rate_store = Money::RatesStore::Memory.new.tap do |store|
    store.add_rate('USD', 'EUR', 1.5)
    store.add_rate('EUR', 'USD', 0.67)
  end
  config.default_bank = Money::Bank::VariableExchange.new(rate_store)
end

Contributing

Please file issues and pull requests on GitHub.

Development

Install:

BUNDLE_GEMFILE=Gemfile-rails7.0 bundle install

Launch specs and linters:

BUNDLE_GEMFILE=Gemfile-rails7.0 bin/rake

Release

Update CHANGELOG.md, update version in lib/active_currency/version.rb.

Then:

BUNDLE_GEMFILE=Gemfile-rails6.1 bundle update
BUNDLE_GEMFILE=Gemfile-rails7.0 bundle update

git add CHANGELOG.md lib/active_currency/version.rb Gemfile-rails*
git commit -m v`ruby -r./lib/active_currency/version <<< 'puts ActiveCurrency::VERSION'`
bin/rake release

License

The gem is available as open source under the terms of the MIT License.