> ## Documentation Index
> Fetch the complete documentation index at: https://docs.reflect.money/llms.txt
> Use this file to discover all available pages before exploring further.

# Get junior tranche exchange rate

> **Available on development API only.**

Retrieve the current exchange rate for a junior tranche token. Returns the rate to USD and the per-asset redemption amounts.



## OpenAPI

````yaml /api-reference/openapi.json get /tranches/junior/{id}/exchange-rate
openapi: 3.0.3
info:
  title: Reflect API
  description: >-
    Interact with the Reflect infrastructure via API. Retrieve stablecoin and
    protocol stats. Generate transactions for minting and redeeming stablecoins.
    Manage integrations and issue whitelabel stablecoins.


    ## Rate Limiting

    - **Unauthenticated users**: 100 requests per minute

    - **Authenticated integrators**: 500 requests per minute


    ## Authentication

    To access higher rate limits, include your API key in the `X-API-Key`
    header. API keys can be obtained through the integration management
    endpoints.
  version: 1.0.0
  contact:
    name: Reflect
    url: https://reflect.money
servers:
  - url: https://prod.api.reflect.money
    description: Production environment
  - url: https://dev.api.reflect.money
    description: Development environment (includes /tranches endpoints)
security: []
tags:
  - name: Health
    description: Health check endpoints
  - name: Stablecoin
    description: Reflect stablecoins interaction endpoints.
  - name: Integration
    description: Custom integration management endpoints.
  - name: Stats
    description: Protocol statistics endpoints
  - name: Events
    description: Protocol events endpoints
  - name: Tranches - Senior
    description: >-
      Senior tranche endpoints (development API only). Deposit and redeem
      underlying stablecoins, query tranche statistics and exchange rates.
  - name: Tranches - Junior
    description: >-
      Junior tranche endpoints (development API only). Deposit and withdraw
      assets, manage cooldowns, query tranche statistics and exchange rates.
  - name: Tranches
    description: General tranche endpoints (development API only).
paths:
  /tranches/junior/{id}/exchange-rate:
    get:
      tags:
        - Tranches - Junior
      summary: Get junior tranche exchange rate
      description: >-
        **Available on development API only.**


        Retrieve the current exchange rate for a junior tranche token. Returns
        the rate to USD and the per-asset redemption amounts.
      parameters:
        - name: id
          in: path
          required: true
          description: Junior tranche ID (PDA address)
          schema:
            type: string
        - name: cluster
          in: query
          required: false
          description: Solana cluster (defaults to mainnet)
          schema:
            type: string
            enum:
              - mainnet
              - devnet
            default: mainnet
      responses:
        '200':
          description: Exchange rate data
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/JuniorTrancheExchangeRateResponse'
        '400':
          description: Invalid pool PDA
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/BadRequestErrorResponse'
components:
  schemas:
    JuniorTrancheExchangeRateResponse:
      type: object
      properties:
        success:
          type: boolean
          example: true
        data:
          type: object
          properties:
            timestamp:
              type: string
              format: date-time
            rateToUsd:
              type: string
              description: USD value per tranche token (1e9-scaled)
            rateToUnderlying:
              type: array
              items:
                type: object
                properties:
                  mint:
                    type: string
                  amount:
                    type: string
              description: Per-asset redemption amounts for 1 tranche token
            totalPoolValueUsd:
              type: string
            tokenSupply:
              type: string
              description: Total tranche token supply
            trancheId:
              type: string
              description: Junior tranche ID
    BadRequestErrorResponse:
      type: object
      properties:
        success:
          type: boolean
          description: Whether the request was successful
          example: false
        message:
          type: string
          description: Error message describing what went wrong with the request
          example: 'Invalid request data: depositAmount must be positive'
      required:
        - success
        - message

````

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