ecb-currency_converter 0.1.0 → 0.2.0

checksums.yaml

@@ -0,0 +1,15 @@
+---
+!binary "U0hBMQ==":
+  metadata.gz: !binary |-
+    ODIyZmJiZWIxOGNhYTMyZDBkNjE4ZmYyOWQ3ZmNmNzUyZDBhMjJmMg==
+  data.tar.gz: !binary |-
+    MjQxYTA2YjBkYzE0N2M0NWQ1MmUwODkyNjgzMzgzYTNiNTE1MDA1Ng==
+!binary "U0hBNTEy":
+  metadata.gz: !binary |-
+    YzY5YWZiYTg3YTViY2MyNDAxMjgzZDVmYzE0NGU2YTRlN2VmZmU3MGViZDdl
+    Y2MxOTJiMTY0MDE0MWExNDBkYjA1NDY5ZmFhODU4ZTU5NDVhNTI0OTg0MDJj
+    Y2U3ZTFiMjgwZjcwMzVkZDg1NTE0NjA1NzJkNjNmNzNmYzA5NTQ=
+  data.tar.gz: !binary |-
+    MGE1OTQ3OTQyODNkZDY4ZTUzZDE4MmEzYmQxODAyYTg4ZTk4YjA5ZjE4MWJh
+    ZWVlMDg5Y2Y3MTdiNWYxYzk2N2QyMjY3NmNkZTMwMjkzZjY1ZmI3ZjM5MjBm
+    N2MwNzZhZjc0ZTkzMWQzMzk5YmEwNDM1NTgyNTRhMDdmMmExNzk=

data/README.md

@@ -1,6 +1,7 @@
 # ECB::CurrencyConverter
 
-Currency Conversion using the European Central Bank's Euro foreign exchange reference rates.
+Currency Conversion using the European Central Bank's Euro foreign exchange
+reference rates. All calculations are performed and returned in +BigDecimal+.
 
 ## Installation
 
@@ -20,19 +21,40 @@ Or install it yourself as:
 
 To convert between two currencies:
 
-    ECB::CurrencyConverter.exchange(100, 'EUR', 'USD')
-    => 133.73999999999998
+    ECB::CurrencyConverter.exchange(100, 'EUR', 'USD').to_f
+    => 133.74
 
-    ECB::CurrencyConverter.exchange(100, 'USD', 'EUR')
+    ECB::CurrencyConverter.exchange(100, 'USD', 'EUR').to_f
     => 74.77194556602363
 
+To convert between two currencies using historical data:
+
+    date = Date.parse('2013-05-17')
+
+    ECB::CurrencyConverter.exchange(100, 'EUR', 'USD', date).to_f
+    => 128.69
+
+    ECB::CurrencyConverter.exchange(100, 'USD', 'EUR', date).to_f
+    => 77.70611547128759
+
+
 To get the most recent exchange rate between two currencies:
 
-    ECB::CurrencyConverter.rate('EUR', 'USD')
+    ECB::CurrencyConverter.rate('EUR', 'USD').to_f
     => 1.3374
 
-    ECB::CurrencyConverter.rate('USD', 'EUR')
-    => 0.7477194556602363
+    ECB::CurrencyConverter.rate('USD', 'EUR').to_f
+    => 0.7477194556602362
+
+To get the historical exchange rate between two currencies:
+
+    date = Date.parse('2013-05-17')
+
+    ECB::CurrencyConverter.rate('EUR', 'USD', date).to_f
+    => 1.2869
+
+    ECB::CurrencyConverter.rate('USD', 'EUR', date).to_f
+    => 0.777061154712876
 
 ## Contributing
 

data/ecb-currency_converter.gemspec

@@ -10,7 +10,7 @@ Gem::Specification.new do |spec|
   spec.email         = ['developer@sepcot.com']
   spec.description   = %q{Currency Conversion using the European Central Bank's Euro foreign exchange reference rates.}
   spec.summary       = %q{Currency Conversion using the European Central Bank's Euro foreign exchange reference rates.}
-  spec.homepage      = ''
+  spec.homepage      = 'https://github.com/msepcot/ecb-currency_converter'
   spec.license       = 'MIT'
 
   spec.files         = `git ls-files`.split($/)
@@ -22,6 +22,7 @@ Gem::Specification.new do |spec|
   spec.add_development_dependency 'fakeweb'
   spec.add_development_dependency 'rake'
   spec.add_development_dependency 'rspec'
+  spec.add_development_dependency 'timecop'
 
   spec.add_dependency 'httparty', '~> 0.11.0'
 end

data/lib/ecb/currency_converter/exceptions.rb

@@ -1,12 +1,12 @@
 module ECB # :nodoc:
-  # = ECB Unknown Currency Error
+  # = ECB Missing Date Error
   #
-  # Raised when we try to grab data for an unsupported currency code.
+  # Raised when the data for a date is +nil+.
   #
-  # * +currency_code+ - the unsupported ISO 4217 Currency Code.
-  class UnknownCurrencyError < StandardError
-    def initialize(currency_code)
-      super("#{currency_code} is not supported.")
+  # * +date+ - the missing date.
+  class MissingDateError < StandardError
+    def initialize(date)
+      super("Foreign exchange reference rate for #{date.to_s} is missing.")
     end
   end
 
@@ -20,4 +20,15 @@ module ECB # :nodoc:
       super("Foreign exchange reference rate for #{currency_code} is missing.")
     end
   end
+
+  # = ECB Unknown Currency Error
+  #
+  # Raised when we try to grab data for an unsupported currency code.
+  #
+  # * +currency_code+ - the unsupported ISO 4217 Currency Code.
+  class UnknownCurrencyError < StandardError
+    def initialize(currency_code)
+      super("#{currency_code} is not supported.")
+    end
+  end
 end

data/lib/ecb/currency_converter/version.rb

@@ -1,5 +1,5 @@
 module ECB # :nodoc:
   module CurrencyConverter # :nodoc:
-    VERSION = '0.1.0'
+    VERSION = '0.2.0'
   end
 end

data/lib/ecb/currency_converter.rb

@@ -1,9 +1,46 @@
+require 'bigdecimal'
+require 'bigdecimal/util'
+require 'date'
 require 'ecb/currency_converter/exceptions'
 require 'ecb/currency_converter/version'
 require 'httparty'
 
-module ECB # :nodoc:
-  # = European Central Bank - Currency Converter
+# = European Central Bank
+#
+# The reference rates are usually updated by 3 p.m. CET. They are based on a
+# regular daily concertation procedure between central banks across Europe and
+# worldwide, which normally takes place at 2.15 p.m. CET.
+#
+# The procedure for computation of Euro Foreign Exchange Reference Rates is
+# stated in: http://www.ecb.int/press/pr/date/2010/html/pr101203.en.html
+#
+# The current procedure for the computation and publication of the foreign
+# exchange reference rates will also apply to the currency that is to be added
+# to the list:
+#
+# * The reference rates are based on the daily concertation procedure between
+#   central banks within and outside the European System of Central Banks,
+#   which normally takes place at 2.15 p.m. CET. The reference exchange rates
+#   are published both by electronic market information providers and on the
+#   ECB's website shortly after the concertation procedure has been completed.
+# * Only one reference exchange rate (i.e. the mid-rate) is published for each
+#   currency, using the "certain" method (i.e. EUR 1 = x foreign currency
+#   units).
+# * The number of significant digits used may vary according to the currency,
+#   reflecting market conventions. In most cases, however, five significant
+#   digits are used.
+# * The euro area national central banks may publish more comprehensive lists
+#   of euro reference exchange rates than that published by the ECB.
+#
+# The ECB pays due attention to ensuring that the published exchange rates
+# reflect the market conditions prevailing at the time of the daily
+# concertation procedure. Since the exchange rates of the above currencies
+# against the euro are averages of buying and selling rates, they do not
+# necessarily reflect the rates at which actual market transactions have been
+# made. The exchange rates against the euro published by the ECB are released
+# for reference purposes only.
+module ECB
+  # = Currency Converter
   #
   # Convert values or find the most recent foreign exchange reference rate
   # between any of the +CURRENCIES+ supported by the European Central Bank.
@@ -13,8 +50,12 @@ module ECB # :nodoc:
   #
   #   http://www.ecb.int/stats/exchange/eurofxref/html/index.en.html
   #
+  # All calculations are performed using +BigDecimal+.
   module CurrencyConverter
-    DAILY_URI = 'http://www.ecb.europa.eu/stats/eurofxref/eurofxref-daily.xml'
+    BASE_URI  = 'http://www.ecb.europa.eu/stats/eurofxref'
+    DAILY_URI = "#{BASE_URI}/eurofxref-daily.xml"
+    NINTY_URI = "#{BASE_URI}/eurofxref-hist-90d.xml"
+
     CURRENCIES = [
       'AUD', # Australian Dollar (A$)
       'BGN', # Bulgarian Lev (BGN)
@@ -55,52 +96,140 @@ module ECB # :nodoc:
     class << self # Class methods
       # Converts the +value+ between +from+ and +to+ currencies.
       #
-      # = Example
+      # = Example (Date.today == 2013-06-18)
       #
-      #   ECB::CurrencyConverter.exchange(100, 'EUR', 'USD')
-      #   => 133.73999999999998
+      #   ECB::CurrencyConverter.exchange(100, 'EUR', 'USD').to_f
+      #   => 133.74
       #
-      #   ECB::CurrencyConverter.exchange(100, 'USD', 'EUR')
+      #   ECB::CurrencyConverter.exchange(100, 'USD', 'EUR').to_f
       #   => 74.77194556602363
-      def exchange(value, from, to)
-        value * rate(from, to)
+      #
+      # = Historical Example (2013-05-17)
+      #
+      #   date = Date.parse('2013-05-17')
+      #
+      #   ECB::CurrencyConverter.exchange(100, 'EUR', 'USD', date).to_f
+      #   => 128.69
+      #
+      #   ECB::CurrencyConverter.exchange(100, 'USD', 'EUR', date).to_f
+      #   => 77.70611547128759
+      def exchange(value, from, to, date = Date.today)
+        value.to_d * rate(from, to, date)
       end
 
       # Return the exchange rate between +from+ and +to+ currencies.
       #
-      # = Example
+      # = Example (Date.today == 2013-06-18)
       #
-      #   ECB::CurrencyConverter.rate('EUR', 'USD')
+      #   ECB::CurrencyConverter.rate('EUR', 'USD').to_f
       #   => 1.3374
       #
-      #   ECB::CurrencyConverter.rate('USD', 'EUR')
-      #   => 0.7477194556602363
-      def rate(from, to)
-        load_data!
-        validate(from, to)
+      #   ECB::CurrencyConverter.rate('USD', 'EUR').to_f
+      #   => 0.7477194556602362
+      #
+      # = Historical Example (2013-05-17)
+      #
+      #   date = Date.parse('2013-05-17')
+      #
+      #   ECB::CurrencyConverter.rate('EUR', 'USD', date).to_f
+      #   => 1.2869
+      #
+      #   ECB::CurrencyConverter.rate('USD', 'EUR', date).to_f
+      #   => 0.777061154712876
+      def rate(from, to, date = Date.today)
+        load_data!(date)
+        date = closest_available_date(date)
+        validate(from, to, date)
+
+        BigDecimal('1.0') / data_for(from, date) * data_for(to, date)
+      end
 
-        1.0 / @euro[from] * @euro[to]
+      # Silence warning messages that can arise from +closest_available_date+
+      def silence_warnings(silence = true)
+        @silence_warnings = silence
       end
     private
+      # Find the closest date with available data.
+      #
+      # Returns the requested date if data is available. If not, we search back
+      # up to five days to see if there is available data. This is primarily
+      # used to handle weekends and holidays when ECB does not publish data. We
+      # will print a warning message (see +silence_warnings+) if we are using
+      # a date other than the one specified.
+      def closest_available_date(date)
+        closest = date.to_date
+        5.times do
+          if @euro.key?(closest.to_s)
+            unless closest == date || @silence_warnings
+              warn "Foreign exchange reference rate for #{date.to_s} " \
+                "is not available, using rate for #{closest.to_s}."
+            end
+            return closest
+          end
+          closest = closest - 1
+        end
+        raise MissingDateError.new(date)
+      end
+
+      # Grab the exchange rate for a currency on a particular date.
+      def data_for(currency, date)
+        @euro[date.to_s][currency] || BigDecimal('0')
+      end
+
+      # Load exchange rate data based on the date requested.
+      #--
+      # NOTE: should we just load the 90-day historical file? It includes the
+      #   most recent date, but takes 2-3x the time to load (.6 or .9 seconds,
+      #   compared to .3 for the daily feed in local tests).
+      # NOTE: this loads the 90-day historical file even if the requested date
+      #   is outside the 90-day window.
+      #++
+      def load_data!(date)
+        if date.to_date == Date.today
+          @euro ||= load_daily
+        elsif !defined?(@euro) || @euro.size < 2
+          @euro = load_ninty
+        end
+      end
+
       # Load data from European Central Bank's daily XML feed.
-      def load_data!
-        @euro ||= begin
-          response = HTTParty.get(DAILY_URI, format: :xml)
-
-          data = response['Envelope']['Cube']['Cube']['Cube']
-          data = data.reduce({}) { |a,e| a[e['currency']] = e['rate'].to_f; a }
-          data['EUR'] = 1.0
-          data
+      def load_daily
+        response = HTTParty.get(DAILY_URI, format: :xml)
+        load(response['Envelope']['Cube']['Cube'])
+      end
+
+      # Load data from European Central Bank's historical 90-day XML feed.
+      def load_ninty
+        data = {}
+
+        response = HTTParty.get(NINTY_URI, format: :xml)
+        response['Envelope']['Cube']['Cube'].each do |cube|
+          data.merge!(load(cube))
         end
+
+        data
+      end
+
+      # Load one +Cube+ worth of data.
+      def load(hash)
+        date = hash['time']
+        data = hash['Cube']
+        data = data.reduce({}) do |hash, element|
+          hash[element['currency']] = BigDecimal.new(element['rate'])
+          hash
+        end
+        data['EUR'] = BigDecimal('1.0')
+
+        { date => data }
       end
 
       # Raise errors for invalid currencies or missing data.
-      def validate(from, to)
+      def validate(from, to, date)
         raise UnknownCurrencyError.new(from)  unless CURRENCIES.include?(from)
         raise UnknownCurrencyError.new(to)    unless CURRENCIES.include?(to)
 
-        raise MissingExchangeRateError.new(from)  if @euro[from].to_f.zero?
-        raise MissingExchangeRateError.new(to)    if @euro[to].to_f.zero?
+        raise MissingExchangeRateError.new(from)  if data_for(from, date).zero?
+        raise MissingExchangeRateError.new(to)    if data_for(to, date).zero?
       end
     end
   end

data/spec/ecb/currency_converter_spec.rb

@@ -1,17 +1,21 @@
 require File.expand_path(File.join(File.dirname(__FILE__), '..', 'spec_helper'))
 
-def rate_comparison(from, to, actual)
-  ECB::CurrencyConverter.rate(from, to).should be_within(0.0001).of(actual)
+def rate_comparison(from, to, date, actual)
+  ECB::CurrencyConverter.rate(from, to, date).should(
+    be_within(0.0001).of(actual)
+  )
 end
 
-def exchange_comparison(amount, from, to, actual)
-  ECB::CurrencyConverter.exchange(amount, from, to).should(
+def exchange_comparison(amount, from, to, date, actual)
+  ECB::CurrencyConverter.exchange(amount, from, to, date).should(
     be_within(0.0001).of(actual)
   )
 end
 
 describe ECB::CurrencyConverter do
   describe '#exchange' do
+    let(:date) { Date.today }
+
     it 'should convert between currencies through the EUR' do
       [ ['AUD', 'LTL', 244.34222], ['BGN', 'LVL',  35.87278],
         ['BRL', 'MXN', 591.82960], ['CAD', 'MYR', 309.46094],
@@ -23,12 +27,33 @@ describe ECB::CurrencyConverter do
         ['ILS', 'TRY',  52.38214], ['INR', 'USD',   1.70152],
         ['JPY', 'ZAR',  10.51728],
       ].each do |from, to, actual|
-        exchange_comparison(100, from, to, actual)
+        exchange_comparison(100, from, to, date, actual)
+      end
+    end
+  end
+
+  describe '#exchange(historical)' do
+    let(:date) { Date.parse('2013-05-17') }
+
+    it 'should convert between currencies through the EUR' do
+      [ ['AUD', 'LTL', 261.25907], ['BGN', 'LVL',  35.75518],
+        ['BRL', 'MXN', 606.90804], ['CAD', 'MYR', 294.17549],
+        ['CHF', 'NOK', 605.61490], ['CNY', 'NZD',  20.13790],
+        ['CZK', 'PHP', 203.79391], ['DKK', 'PLN',  55.96049],
+        ['EUR', 'KRW', 143784.00], ['GBP', 'RON', 513.40633],
+        ['HKD', 'RUB', 404.23576], ['HRK', 'SEK', 113.48831],
+        ['HUF', 'SGD',   0.55602], ['IDR', 'THB',   0.30525],
+        ['ILS', 'TRY',  50.16654], ['INR', 'USD',   1.82264],
+        ['JPY', 'ZAR',   9.15780],
+      ].each do |from, to, actual|
+        exchange_comparison(100, from, to, date, actual)
       end
     end
   end
 
   describe '#rate' do
+    let(:date) { Date.today }
+
     it 'should match the provided rates when converting from EUR' do
       [ ['AUD', 1.4131],   ['BGN', 1.9558],  ['BRL', 2.9203],
         ['CAD', 1.3635],   ['CHF', 1.2315],  ['CNY', 8.1963],
@@ -42,7 +67,7 @@ describe ECB::CurrencyConverter do
         ['SEK', 8.6753],   ['SGD', 1.6855],  ['THB', 41.259],
         ['TRY', 2.5167],   ['USD', 1.3374],  ['ZAR', 13.4148]
       ].each do |currency, value|
-        rate_comparison('EUR', currency, value)
+        rate_comparison('EUR', currency, date, value)
       end
     end
 
@@ -59,12 +84,12 @@ describe ECB::CurrencyConverter do
         ['SEK', 8.6753],   ['SGD', 1.6855],  ['THB', 41.259],
         ['TRY', 2.5167],   ['USD', 1.3374],  ['ZAR', 13.4148]
       ].each do |currency, value|
-        rate_comparison(currency, 'EUR', 1.0 / value)
+        rate_comparison(currency, 'EUR', date, 1.0 / value)
       end
     end
 
     it 'should report a rate of 1.0 between the same currency' do
-      rate_comparison('KRW', 'KRW', 1.0)
+      rate_comparison('KRW', 'KRW', date, 1.0)
     end
 
     it 'should convert rates between currencies through the EUR' do
@@ -77,62 +102,149 @@ describe ECB::CurrencyConverter do
         ['IDR', 'THB', 0.00311], ['ILS', 'TRY', 0.52382],
         ['INR', 'USD', 0.01701], ['JPY', 'ZAR', 0.10517],
       ].each do |from, to, value|
-        rate_comparison(from, to, value)
+        rate_comparison(from, to, date, value)
+      end
+    end
+  end
+
+  describe '#rate(historical)' do
+    let(:date) { Date.parse('2013-05-17') }
+    it 'should match the provided rates when converting from EUR' do
+      [ ['AUD', 1.3216],   ['BGN', 1.9558],  ['BRL', 2.61],
+        ['CAD', 1.322],    ['CHF', 1.2449],  ['CNY', 7.904],
+        ['CZK', 25.989],   ['DKK', 7.4524],  ['GBP', 0.84475],
+        ['HKD', 9.9911],   ['HRK', 7.571],   ['HUF', 290.56],
+        ['IDR', 12554.93], ['ILS', 4.7135],  ['INR', 70.606],
+        ['JPY', 131.87],   ['KRW', 1437.84], ['LTL', 3.4528],
+        ['LVL', 0.6993],   ['MXN', 15.8403], ['MYR', 3.889],
+        ['NOK', 7.5393],   ['NZD', 1.5917],  ['PHP', 52.964],
+        ['PLN', 4.1704],   ['RON', 4.337],   ['RUB', 40.3876],
+        ['SEK', 8.5922],   ['SGD', 1.6156],  ['THB', 38.324],
+        ['TRY', 2.3646],   ['USD', 1.2869],  ['ZAR', 12.0764]
+      ].each do |currency, value|
+        rate_comparison('EUR', currency, date, value)
+      end
+    end
+
+    it 'should match the inverted rates when converting to EUR' do
+      [ ['AUD', 1.3216],   ['BGN', 1.9558],  ['BRL', 2.61],
+        ['CAD', 1.322],    ['CHF', 1.2449],  ['CNY', 7.904],
+        ['CZK', 25.989],   ['DKK', 7.4524],  ['GBP', 0.84475],
+        ['HKD', 9.9911],   ['HRK', 7.571],   ['HUF', 290.56],
+        ['IDR', 12554.93], ['ILS', 4.7135],  ['INR', 70.606],
+        ['JPY', 131.87],   ['KRW', 1437.84], ['LTL', 3.4528],
+        ['LVL', 0.6993],   ['MXN', 15.8403], ['MYR', 3.889],
+        ['NOK', 7.5393],   ['NZD', 1.5917],  ['PHP', 52.964],
+        ['PLN', 4.1704],   ['RON', 4.337],   ['RUB', 40.3876],
+        ['SEK', 8.5922],   ['SGD', 1.6156],  ['THB', 38.324],
+        ['TRY', 2.3646],   ['USD', 1.2869],  ['ZAR', 12.0764]
+      ].each do |currency, value|
+        rate_comparison(currency, 'EUR', date, 1.0 / value)
+      end
+    end
+
+    it 'should report a rate of 1.0 between the same currency' do
+      rate_comparison('KRW', 'KRW', date, 1.0)
+    end
+
+    it 'should convert rates between currencies through the EUR' do
+      [ ['AUD', 'LTL', 2.61259], ['BGN', 'LVL', 0.35755],
+        ['BRL', 'MXN', 6.06908], ['CAD', 'MYR', 2.94175],
+        ['CHF', 'NOK', 6.05614], ['CNY', 'NZD', 0.20137],
+        ['CZK', 'PHP', 2.03793], ['DKK', 'PLN', 0.55960],
+        ['GBP', 'RON', 5.13406], ['HKD', 'RUB', 4.04235],
+        ['HRK', 'SEK', 1.13488], ['HUF', 'SGD', 0.00556],
+        ['IDR', 'THB', 0.00305], ['ILS', 'TRY', 0.50166],
+        ['INR', 'USD', 0.01822], ['JPY', 'ZAR', 0.09157],
+      ].each do |from, to, value|
+        rate_comparison(from, to, date, value)
       end
     end
+  end
+
+  describe '#silence_warnings' do
+    let(:date) { Date.parse('2013-05-18') } # NOTE: weekend date
+    around { ECB::CurrencyConverter.silence_warnings(false) }
+
+    it 'should warn users when not using their requested date' do
+      ECB::CurrencyConverter.silence_warnings
+      Kernal.should_not_receive(:warn)
+
+      ECB::CurrencyConverter.exchange(100, 'EUR', 'USD', date)
+    end
+
+    it 'should not warn users when they silence warnings' do
+      Kernal.should_receive(:warn)
+
+      ECB::CurrencyConverter.exchange(100, 'EUR', 'USD', date)
+    end
+  end
+
+  describe '#validate' do
+    describe ECB::MissingDateError do
+      it 'should raise an error for a date more than 90 days ago' do
+        expect {
+          ECB::CurrencyConverter.exchange(100, 'EUR', 'USD', Date.today - 90)
+        }.to raise_error(ECB::MissingDateError)
+      end
+
+      it 'should not raise an error for a date less than 90 days ago' do
+        expect {
+          ECB::CurrencyConverter.exchange(100, 'EUR', 'USD', Date.today - 89)
+        }.to_not raise_error(ECB::MissingDateError)
+      end
+    end
+
+    describe ECB::MissingExchangeRateError do
+      before do
+        ECB::CurrencyConverter.send(:load_data!, Date.today)
+
+        euro = ECB::CurrencyConverter.instance_variable_get(:@euro)
+        euro[Date.today.to_s]['USD'] = nil
+
+        ECB::CurrencyConverter.instance_variable_set(:@euro, euro)
+      end
+
+      after do
+        ECB::CurrencyConverter.instance_variable_set(:@euro, nil)
+      end
+
+      it 'should raise an error if supported data is missing' do
+        expect {
+          ECB::CurrencyConverter.exchange(100, 'EUR', 'USD')
+        }.to raise_error(ECB::MissingExchangeRateError)
+
+        expect {
+          ECB::CurrencyConverter.exchange(100, 'USD', 'EUR')
+        }.to raise_error(ECB::MissingExchangeRateError)
+      end
+
+      it 'should not raise an error if we have data available' do
+        expect {
+          ECB::CurrencyConverter.exchange(100, 'EUR', 'GBP')
+        }.to_not raise_error(ECB::MissingExchangeRateError)
+
+        expect {
+          ECB::CurrencyConverter.exchange(100, 'GBP', 'EUR')
+        }.to_not raise_error(ECB::MissingExchangeRateError)
+      end
+    end
+
+    describe ECB::UnknownCurrencyError do
+      it 'should raise an error on an unsupported currency code' do
+        expect {
+          ECB::CurrencyConverter.exchange(100, 'USD', 'UNKNOWN')
+        }.to raise_error(ECB::UnknownCurrencyError)
+
+        expect {
+          ECB::CurrencyConverter.exchange(100, 'UNKNOWN', 'USD')
+        }.to raise_error(ECB::UnknownCurrencyError)
+      end
 
-    describe '#validate' do
-      describe ECB::UnknownCurrencyError do
-        it 'should raise an error on an unsupported currency code' do
-          expect {
-            ECB::CurrencyConverter.exchange(100, 'USD', 'UNKNOWN')
-          }.to raise_error(ECB::UnknownCurrencyError)
-
-          expect {
-            ECB::CurrencyConverter.exchange(100, 'UNKNOWN', 'USD')
-          }.to raise_error(ECB::UnknownCurrencyError)
-        end
-
-        it 'should not raise an error for supported currency codes' do
-          expect {
-            ECB::CurrencyConverter.exchange(100, 'EUR', 'USD')
-          }.to_not raise_error(ECB::UnknownCurrencyError)
-        end
-      end
-
-      describe ECB::MissingExchangeRateError do
-        before do
-          ECB::CurrencyConverter.send(:load_data!)
-
-          euro = ECB::CurrencyConverter.instance_variable_get(:@euro)
-          euro['USD'] = nil
-
-          ECB::CurrencyConverter.instance_variable_set(:@euro, euro)
-        end
-
-        after do
-          ECB::CurrencyConverter.instance_variable_set(:@euro, nil)
-        end
-
-        it 'should raise an error if supported data is missing' do
-          expect {
-            ECB::CurrencyConverter.exchange(100, 'EUR', 'USD')
-          }.to raise_error(ECB::MissingExchangeRateError)
-
-          expect {
-            ECB::CurrencyConverter.exchange(100, 'USD', 'EUR')
-          }.to raise_error(ECB::MissingExchangeRateError)
-        end
-
-        it 'should not raise an error if we have data available' do
-          expect {
-            ECB::CurrencyConverter.exchange(100, 'EUR', 'GBP')
-          }.to_not raise_error(ECB::MissingExchangeRateError)
-
-          expect {
-            ECB::CurrencyConverter.exchange(100, 'GBP', 'EUR')
-          }.to_not raise_error(ECB::MissingExchangeRateError)
-        end
+      it 'should not raise an error for supported currency codes' do
+        expect {
+          ECB::CurrencyConverter.exchange(100, 'EUR', 'USD')
+        }.to_not raise_error(ECB::UnknownCurrencyError)
       end
     end
   end