Exchange Rates & FX Quotes

Check live exchange rates, lock in quotes for international transfers, and understand how currency conversion works on Danipa.

Overview

Danipa provides competitive exchange rates for international transfers and currency conversions. This guide explains how to check rates, lock in quotes, and get the best value for your money.

Checking Exchange Rates

In the App

1. From the home screen, tap More → Exchange Rates
2. You'll see a list of available currency pairs with live rates

Each rate card shows:

• Currency pair — e.g., CAD → GHS
• Current rate — how much 1 unit of the source currency is worth in the destination currency
• 24-hour change — whether the rate has gone up or down

On the Website

Visit danipa.com/rates for a full rate table. Rates are updated every few minutes during market hours.

Understanding Exchange Rates

What Determines the Rate?

Danipa's exchange rates are based on the interbank rate (the rate banks use between themselves) with a small margin. Our margin covers:

• Currency conversion costs
• Transfer processing
• Regulatory compliance

Mid-Market Rate vs. Danipa Rate

We're transparent about our margin — you'll always see the exact rate before you confirm a transfer.

FX Quotes

An FX quote locks in an exchange rate for a set period, protecting you from rate fluctuations while you complete your transfer.

Getting a Quote

When you start an international transfer, Danipa automatically generates an FX quote:

1. Tap Send Money → International
2. Select the destination country and enter the amount
3. The quote appears showing:
   • Exchange rate — the locked rate
   • You send — the amount debited from your wallet
   • They receive — the amount delivered to the recipient
   • Fee — the transfer fee
   • Quote expiry — how long the rate is guaranteed

Quote Duration

If the quote expires before you confirm, a new quote is generated at the current rate.

Locking a Rate

The rate is locked the moment you tap Confirm & Send. Even if the market moves during processing, you get the rate shown at confirmation.

Supported Currency Pairs

Danipa supports transfers between the following currencies:

More corridors are being added regularly. Check the app for the latest availability.

Currency Conversion (Wallet to Wallet)

If you hold multiple currency wallets, you can convert between them:

1. Tap More → Convert Currency
2. Select From currency and To currency
3. Enter the amount
4. Review the rate and fee (0.5% for wallet-to-wallet)
5. Tap Convert

Conversion is instant — the funds appear in your destination wallet immediately.

Rate Alerts

Get notified when a rate reaches your target:

Setting a Rate Alert

1. Go to More → Exchange Rates
2. Tap on a currency pair
3. Tap Set Alert
4. Enter your target rate — e.g., "Notify me when 1 CAD = 9.50 GHS or better"
5. Choose notification method: Push, Email, or both
6. Tap Save

Managing Alerts

View and manage your active alerts in More → Exchange Rates → My Alerts.

You can:

• Edit the target rate
• Pause an alert temporarily
• Delete alerts you no longer need

Tips for Getting Better Rates

• Check rates before sending — rates fluctuate throughout the day
• Send during business hours — rates tend to be more stable
• Use rate alerts — set your target and wait for the rate to come to you
• Send larger amounts — the percentage impact of fixed fees is lower on larger transfers
• Avoid weekends — FX markets are closed, so weekend rates may include a wider margin to account for Monday's potential movement

Rate History

View how a currency pair has performed over time:

1. Go to More → Exchange Rates
2. Tap on a currency pair
3. Scroll down to Rate History
4. Toggle between 1 Week, 1 Month, 3 Months, and 1 Year views

The chart shows the daily average rate, helping you decide the best time to send.