The CuCoPy package provides methods for exchanging currencies and adjusting monetary values for inflation until 1960 on a yearly basis.
Project description
CuCoPy - Currency Conversion for Python
The CuCoPy package provides methods for exchanging currencies and adjusting monetary values for inflation until 1960 on a yearly basis.
Features
- adjust money for inflation (1960 - last calendar year)
- exchange currencies from 260+ countries
Installation
CuCoPy can be installed directly via git - this will preserve the connection to the GitHub repository:
git clone https://github.com/FZJ-IEK3-VSA/CuCoPy
Then install CuCoPy via python as follows
cd cucopy
python setup.py install
Example
In the following code snippet, a value from 2010 is given in Euros and its remaining purchasing power in 2021 is to be calculated:
from cucopy import Currency
# Here, the ISO code may be omitted as the CuCoPy package defaults to "de" (Euro)
de_cur = Currency(recording_year="2010", value=500, iso="de")
de_cur.set_target_year("2021")
remaining_pp = de_cur.get_purchasing_power()
>> 492.9009...
Subsequently one might also want to get the equivalent worth of an earlier recorded value:
...
gb_cur = Currency(recording_year="1999", value=100, iso="gb")
gb_cur.set_target_year("2000")
equiv_worth = gb_cur.get_equivalent_worth()
>> 101.1829...
Note: the preceding example is taken from the UK Parliament's statistical literacy guide "How to adjust for inflation", which provided formulas on working with the consumer price index (CPI) and inflation rates.
To exchange monetary values between currencies, the target currency's ISO code has to be provided:
...
de_cur = Currency("2015", 500)
de_cur.set_target_currency("us")
exchanged_val = de_cur.get_exchanged_value()
>> 554.7564...
A workflow to adjust for inflation and exchange the newly-adjusted value might look like this:
...
recording_year = "2015"
recording_value = 100
recording_iso = "de"
target_iso = "us"
target_year = "2020"
recording_cur = Currency(recording_year, recording_value, recording_iso)
recording_cur.set_target_year(target_year)
adjusted_value = recording_cur.get_equivalent_worth()
>> 105.8093...
recording_cur.set_value(adjusted_value)
recording_cur.set_recording_year(target_year)
recording_cur.set_target_currency(target_iso)
recording_cur.get_exchanged_value()
>> 120.8549...
License
MIT License
Copyright (c) 2021-2022 Julian Schönau (FZJ/IEK-3), Patrick Kuckertz (FZJ/IEK-3), Jann Weinand (FZJ/IEK-3), Leander Kotzur (FZJ/IEK-3), Detlef Stolten (FZJ/IEK-3)
You should have received a copy of the MIT License along with this program. If not, see https://opensource.org/licenses/MIT
About Us
Acknowledgements
The CuCoPy package relies heavily on the datasets made available by the World Bank Group and the International Monetary Fund (IMF), but is neither affiliated with or endorsed by either parties.
The World Bank API provides extensive information about consumer price indices and is used under the CC BY 4.0 license. Its terms of use can be accessed here: https://data.worldbank.org/summary-terms-of-use, https://creativecommons.org/licenses/by/4.0/
The IMF API provides information on international exchange rates and is used for research purposes. Their terms can be accessed here: https://www.imf.org/external/terms.htm
This work is supported by the Federal Ministry for Economic Affairs and Climate Action (BMWK) with a grant for the project LOD-GEOSS (03EI1005B).
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