> For the complete documentation index, see [llms.txt](https://docs.tylt.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tylt.money/tylt-crossramp-fiat-crypto-solutions/philippines-php/administration/set-rate.md).

# Set Rate

This endpoint allows the authorized PSMD rate actor to set the fiat conversion rate used for PSMD pay-in and pay-out creation. The submitted rate must be provided in the following format:

```
1 USDT = x fiatCurrency
```

For example, if `1 USDT = 58 PHP`, the value of `usdtToFiatRate` should be `58`.

When a pay-in or pay-out is created, Tylt uses this rate to calculate the equivalent fiat-to-USDT conversion rate internally.

#### Endpoint

[<mark style="color:green;">**`POST`**</mark>](https://dev-api.tylt.money/v2/prime-fiat/instance/details)`https://api.tylt.money/v2/prime-fiat/php/rate`

**Request Headers**

{% tabs %}
{% tab title="Headers" %}

<table data-full-width="true"><thead><tr><th width="133">Name</th><th width="79">Type</th><th width="167">Example</th><th>Description</th></tr></thead><tbody><tr><td>X-TLP-APIKEY</td><td>string</td><td>93ee3c5e133697251b5362bcf9cc8532476785t8768075616f58d88</td><td>Your Tylt API Key, used to identify your account in API requests.</td></tr><tr><td>X-TLP-SIGNATURE</td><td>string</td><td>d0afef3853dfc8489c8b9affa5825171fdd7y7685675e4966a05f66ed2b3eaf9462b3c9c0</td><td>HMAC SHA-256 signature generated using the API Secret Key to secure the request.</td></tr></tbody></table>
{% endtab %}
{% endtabs %}

{% hint style="info" %}
When using the API, ensure to include your API Key and generate the signature for the request payload using your API Secret. The tables provided above contain example values for illustration purposes only. Please refer to the code snippets for detailed instructions on how to sign the request and generate the signature properly.
{% endhint %}

**Request Body**

{% tabs %}
{% tab title="Parameters" %}

| Field            | Type     | Required | Description                                                           |
| ---------------- | -------- | -------: | --------------------------------------------------------------------- |
| `currencySymbol` | `string` |      Yes | Fiat currency symbol for which the rate is being set. Example: `PHP`. |
| `usdtToFiatRate` | `number` |      Yes | Actor-set rate in `1 USDT = x fiatCurrency` format. Example: `58`.    |
| {% endtab %}     |          |          |                                                                       |
| {% endtabs %}    |          |          |                                                                       |

**Code Snippet**

{% tabs %}
{% tab title="JavaScript" %}

```javascript
const axios = require("axios");
const crypto = require("crypto");

const apiKey = "your-api-key";
const apiSecret = "your-api-secret";

const body = {
  currencySymbol: "PHP",
  usdtToFiatRate: 58
};

const signature = crypto
  .createHmac("sha256", apiSecret)
  .update(JSON.stringify(body))
  .digest("hex");

axios.post(
  "https://api.tylt.money/v2/prime-fiat/php/rate",
  body,
  {
    headers: {
      "X-TLP-APIKEY": apiKey,
      "X-TLP-SIGNATURE": signature
    }
  }
)
  .then((response) => console.log(response.data))
  .catch((error) => console.error(error.response?.data || error));
```

{% endtab %}
{% endtabs %}

**Response**

{% tabs %}
{% tab title="Response Example" %}

```json
{
  "msg": "Rate set successfully.",
  "data": {
    "rateId": 1,
    "currencySymbol": "PHP",
    "cryptoCurrencySymbol": "USDT",
    "usdtToFiatRate": 58,
    "fiatToUsdtRate": 0.017241379310344827,
    "action": "insert"
  }
}
```

{% endtab %}

{% tab title="Response Fields" %}

| Field                  | Type     | Description                                                                                    |
| ---------------------- | -------- | ---------------------------------------------------------------------------------------------- |
| `rateId`               | `number` | Unique ID of the active rate record.                                                           |
| `currencySymbol`       | `string` | Fiat currency symbol for which the rate was set.                                               |
| `cryptoCurrencySymbol` | `string` | Crypto currency symbol used for conversion. Currently `USDT`.                                  |
| `usdtToFiatRate`       | `number` | Submitted rate in `1 USDT = x fiatCurrency` format.                                            |
| `fiatToUsdtRate`       | `number` | Derived rate in `1 fiatCurrency = x USDT` format.                                              |
| `action`               | `string` | Indicates whether the rate was newly inserted or updated. Possible values: `insert`, `update`. |
| {% endtab %}           |          |                                                                                                |
| {% endtabs %}          |          |                                                                                                |