This article will teach you how to import interest rate data to Google Sheets. The COVID-19 pandemic forced the central banks of all countries to adopt an accommodative stance to make borrowing cheaper in the economy. However, now that the pandemic has subsided, the central banks have constantly been revising the rate at which it lends/borrows from commercial banks to curb the rising inflation. Investors monitor this rate very keenly because an increase in the rate implies higher financing costs and lower profitability.
To import interest rate data to Google Sheets, follow the below steps.
- Log in to RapidAPI and generate the API key
- Get the endpoint URL
- Install the Amigo Add-on
- Import the data
How to import Interest Rate data to Google Sheets
Follow the steps given below to learn how to import Interest Rate data to Google Sheets.
Step 1: Get the API key
Login to RapidAPI here. If you don’t have an account created, you will need to click the Sign-up option and create one.
Once logged in, click here to be directed to the API which will be used to import interest rate Data to Google Sheets.
Since the API is free to use, there’s no need to subscribe to use the API. Your API key will be automatically generated and inputted in the list of parameters as shown below.
Step 2: Choose the API endpoint
In the rightmost section of the API documentation, click on Code snippets and change the programming language from (Node.js) Axios→ Shell→cURL.
Copy the API endpoint URL and take note of the headers and their values. The same will be used later while using the Amigo extension to establish a connection between your sheets and the source from where data will be imported.
Step 3: Get Amigo Google Sheets extension
The Amigo Add-on is an extension in Google Sheets that allows you to import data from various sources without coding.
You can either install the extension directly from the Google Workspace Marketplace or follow the steps below:
- Open a new google sheet
- Click on Extension→ Add-ons→ Get Add-on
- Search for “Amigo” and install it.
Step 4: Import the data to Google Sheets
Go to the Google Sheet in which you want the data to be pasted. Click on Extensions→Amigo→Connect
Select Custom API from the list of sources
Paste the API endpoint URL copied earlier under the API URL section. Select the Details tab and add the following headers along with their values noted earlier and click Preview.
Click on Flatten to present the data in separate columns. Once the data are separated into columns, click on Import.
Shortly, you will find the prevailing interest rates for different periods of time at which borrowing and lending occur in different countries imported to Google Sheets.
Amigo also allows you to set a refresh schedule that automatically updates the data imported to ensure that the user is provided with the latest data without any manual input. To learn how to automatically update your data at regular intervals and receive alerts for the same on your email or Slack channel, click here.
In this article, we learned to import interest rate Data to Google Sheets. To learn how to import data from other sources, check out our blog.
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