FastAPI + MongoDB Caching Strategy Solves API Rate Limits for Real-Time Forex Data
Apps serving live data like currency rates often exhaust upstream API quotas when every user request triggers a fresh provider call. A practical solution decouples data fetching from request handling by running a background loop that pulls rates on a fixed schedule — every two minutes — and stores results in MongoDB. User requests then read from the local database, cutting response times to single-digit milliseconds and keeping upstream API calls constant regardless of traffic volume. The approach also tracks data freshness via timestamps, allowing the API to flag stale data if the refresh loop fails for an extended period. The author reports this pattern runs in production serving live rates for over 150 currencies on the FloatForex platform.
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