Template built by
Telegraf Plugins used:
- 1 Bucket:
quandl, 30d retention
- 2 Labels:
- 1 Telegraf Configuration:
Exchange Rates Data Retrieval.conf
- 1 Dashboards:
- 1 Variables:
If you have your InfluxDB credentials configured in the CLI, you can install this template with:
Currency Exchange Rate Monitoring dashboard
Because flexible currency exchange rates change on a regular basis, monitoring them and understanding their rise and drop is important for various reasons and can paint a picture of a company's current economic health. When the country's current currency exchange rate is of higher value, that means its imports are less expensive and its exports are more expensive in foreign markets.
Many factors determine a country's current currency exchange rate, with differentials in inflation being chief among them. This is usually accompanied by higher interest rates, which are another contributing factor. But current account deficits, the total amount of public debt, and even the terms of trade are also directly related to a country's current currency exchange rate. Monitoring using the Currency Exchange Rate Monitoring Template will keep you up-to-date on changes as they happen, allowing you to make more informed decisions with your money. It is also a publicly available data set which makes it easy to ingest into InfluxDB.
Why monitor the currency exchange rate?
Flexible currency exchange rates are determined by the foreign exchange market (forex) and change on a regular basis. If you ever travel to a country with a different currency than that used where you live, you can plan for the exchange rate values. If your local currency is strong, you can buy more of the foreign currency which will allow you to purchase more on your trip. There are a number of applications and websites that share currency exchange rates from around the world. Or, you can build your own monitoring solution to watch the exact exchange rate that you are interested in.
How to use the Currency Exchange Rate Monitoring Template
The Currency Exchange Rate Monitoring Template retrieves the daily indexes from European Central Bank for the following exchange rates:
The template is able to pull this data by using an API from Quandl, a source for all kinds of data including financial, economic, and alternative datasets, serving investment professionals. You can easily start using the data by opening a free account that provides you with an API key so you can pull the data through the API and the web interface. With this API, you can also change the exchange rates that are pulled into InfluxDB.
Once your InfluxDB credentials have been properly configured in the CLI, you can install the Currency Exchange Rate Monitoring Template using the Quick Install command. Once installed, the data for the dashboard will be populated by the included Telegraf configurations for the HTTP Input Plugin, the InfluxDB v2.x Output Plugin, the Pivot Processor, and the Regex Processor Plugin. Note that you might need to customize the input configuration to better serve your needs, including by specifying a new input value.
To find out more information about environmental variables within the configurations for the 4 Telegraf plugins, consult the following links:
The source of the data shown in this dashboard is updated every weekday, so remember to set the Time Range in the dashboard to Past 30d. In addition, the Telegraf configuration retrieves the data every minute even though the data used in this template does not change as often.
Key Currency Exchange Rate Monitoring metrics
This template pulls the currency exchange rates for the following :