How we source our exchange rates
The exchange rates on Sonic Wallet's currency converters, rate pages, tools and guides are market rates from a financial data provider, shown with no margin added. This page explains where they come from, how we work them out and how often they change.
Written by Sonic Wallet editorial team · Last reviewed: 1 November 2026
Key facts
- Our exchange rates come from Twelve Data, a provider of financial market data.
- We show market rates with no margin added, often called mid-market rates.
- Twelve Data quotes each currency against the US dollar, so we work out other pairs, such as pounds to rupees, through the dollar.
- Rates are refreshed about every hour while currency markets are open, and every page shows when its rate was last updated.
- The currency market closes from Friday 5pm to Sunday 5pm New York time, so at weekends we show the last rate before the close.
- On 2 Nov 2026, 06:10 GMT, £1 was worth ₹127.19 at the mid-market rate.
Rate last updated:
Where do the rates come from?
We get exchange rates from Twelve Data, which supplies market data for currencies, stocks and cryptocurrencies. Our system fetches the latest rates throughout the day and stores one rate for each currency against the US dollar.
The rates are indicative. They show where the market is, not a price anyone will deal at, and nothing on our rate pages is a quote for a transfer.
What is the mid-market rate?
The mid-market rate is the midpoint between the price at which the wholesale currency market is buying a currency and the price at which it is selling it. It has no margin built in, which makes it the fairest benchmark for comparing quotes.
Banks and money transfer services usually give customers a rate below the mid-market rate and keep the difference. Our money transfer cost calculator shows how much that margin costs on a real quote.
How are rates between two currencies worked out?
Twelve Data quotes each currency against the US dollar. To find the rate between two other currencies, we divide one dollar rate by the other: the pound to rupee rate is the number of rupees per dollar divided by the number of pounds per dollar.
For example, on 2 Nov 2026, 06:10 GMT, US$1 was worth ₹94.91 and £0.7462. So £1 = ₹94.91 ÷ 0.7461 = ₹127.19.
A rate worked out this way can differ very slightly from one quoted directly between the two currencies.
How often are rates updated?
We fetch new rates throughout the day while currency markets are open, so each currency is usually refreshed about once an hour, and the pages that show rates are rebuilt every hour with the latest figures.
Every page shows when its rate was last updated. Our UK pages show UK time (GMT or BST), and our other pages show UTC. Charts, 52-week highs and lows and our analysis of past rates use one closing rate per day.
What happens at weekends?
The global currency market trades around the clock from Sunday 5pm to Friday 5pm New York time, which is usually 10pm in the UK. While it is closed there are no new market rates, so we show the last rate before the close and say so on the page.
Some providers widen their margins at weekends to protect themselves against the rate moving before markets reopen. If you send money at the weekend, compare the rate you are offered with the Friday close.
Corrections
If you think a rate on our site is wrong, email support@sonicwallet.com. Our editorial policy explains how we check and correct our content.
Frequently asked questions
Where does Sonic Wallet get its exchange rates?+
From Twelve Data, a financial market data provider. We show the rates with no margin added and refresh them about every hour while currency markets are open.
Is the rate on your pages the rate I will get?+
Not necessarily. The rates on our pages are mid-market rates, for information. The rate that applies to a transfer is the one you are quoted before you confirm it, and transfer providers usually build a margin into it.
Why does the rate not change at the weekend?+
The currency market closes from Friday 5pm to Sunday 5pm New York time, usually 10pm UK time. There are no new market rates while it is closed, so we show the last rate before the close.
Why is your rate different from another website's?+
Exchange rates move all the time, and websites update at different moments and may use different data providers. Check when each rate was last updated: two rates taken at different times will rarely match.
Where our rates are used
Sources
- Twelve Data: financial market data, Twelve Data