> ## Documentation Index
> Fetch the complete documentation index at: https://docs.pik.global/llms.txt
> Use this file to discover all available pages before exploring further.

# Rates

> Convert currencies at the live market rate using PIK's Rates method.

PIK's Rates method converts a balance from one currency to another at the prevailing live market rate at the moment you submit the request. There is no quoting step. You call the convert endpoint and the conversion executes immediately.

### How Rates works

```mermaid theme={null}
flowchart LR
    A["Retrieve indicative rate<br/>(Optional)"] -->|GET /api/v1/fx/rates| B["Display or estimate<br/>rate to user"]
    B --> C["Submit conversion"]
    D["POST /api/v1/fx/conversions<br/>conversion_type: rate"] -->|Execute at live rate| E["Credit bought currency<br/>to wallet"]
    C --> D
    
    classDef default font-size:16px
```

Step 1 (optional) — Retrieve the current indicative rate. Call GET /api/v1/fx/rates with sell\_currency, buy\_currency, and amount. This is for display or estimation only — it does not lock a price.

Step 2 — Submit the conversion. Call POST /api/v1/fx/conversions with sell\_currency, buy\_currency, amount, and conversion\_type set to rate. PIK executes immediately at the live rate and credits the bought currency to your wallet.

### Request fields

* sell\_currency — Currency converting from, for example USDT.
* buy\_currency — Currency converting to, for example AUD.
* sell\_amount or buy\_amount — Specify how much to sell or how much to receive. PIK calculates the other side.
* conversion\_type — Set to rate.
* x-on-behalf-of header — Connected account ID if converting on behalf of a customer.

### Things to know

No rate lock — The rate is determined at execution. If you wait between retrieving an indicative rate and submitting, the actual rate may differ.

Sufficient balance required — PIK rejects the conversion if the sell currency balance is insufficient.

Minimum amounts apply — Requests below the minimum return a 422 error.