What is the current exchange rate offered by Paypal?

Since last 3-4 days, the exchange rate of dollar to INR has risen to the highest level with the last rate quoting at around 51 Rupees!

Can anybody who have recently withdrawn money to Indian Bank disclose what is the latest exchange rate offered by paypal for such withdrawal?

Thanks & regards,

RightMan

 

Thanks...DON has been as usual..very prompt with his reply...

Btw...I thought the exchange rate would be close to 50...they are still way too off from the current exchange rate...

Regards,

RightMan

 

If you are withdrawing the funds, then it will be between Rs. 46 to Rs. 47 and if you were to send money, then its between Rs 49 to Rs. 51.

 

Rs. 46 to 47 for withdrawal...?

DON clearly suggested Rs. 49 and I am sure he was mentioning the same for withdrawals as well....
I guess...he must have done withdrawal pretty recently while yours might have been little more in the past....hopefully..

Regards,

RightMan

 

Well, Rs. 49/- for with drawls, I doubt you will get that.

For with drawls, you can login to paypal account and click on withdraw funds. There you can see a option for the exchange rate. Click on it to see the current exchange rate.

And for sending, you can click on send money, enter any email and amount and click next. Its safe as you will confirm the transaction on the next page where you will be able to see the exchange rate.

Hope that helps you friend.

 

This rates will effect by tomorrow means if you check tomorrow you would see rates near to Rs 50/$ and check rates after 6.30 IST time.

 

PayPal state that they update their exchange rate daily through the use of www.xe.com. Use that website if you want to see the current exchange rate.

 

Exchange rates offered by PayPal are real time(approx.) and are fetched at the time of exchange. So, it is not fixed.

 

Just like the share market, currency also has 3 rates:

1. The base rate that we always refer to and which you can find at the xe.com i.e. 1 USD = 50 INR

2. Buy or with drawl rate which is less than the base rate i.e. 1 USD = 49 INR

3. Sell or send rate which is more than the base rate i.e. 1 USD = 51 INR

To confirm it, just follow the steps as I mentioned above.

So if you were planning to send money to someone in USD, do not assume that the rate at xe.com will apply. The same goes for when you would with draw money in INR.

Hope that helps.

 

I know that bid and ask rate for exchange are always different and that they do change daily.

What I had asked specifically was the latest withdrawal rate, and I think DON was right on target for it being 49+ as of now...

Thanks for the pointer....friend...

Regards,

RightMan

 

Paypal offer 48rs per $

 

today i got 49.5

 

Thats coooooooooool!!!!!!

Rs. 49.50 a Dollar. Where's the party man. I did join you

 

Yeah...it is cool...but spare a thought for importers who would be reeling under added pressure of exchange rate and stagnating economy!

Many sectors of the economy would be facing tough times due to this constant rupee depreciation

Regards,

RightMan

 

The dollar-rupee exchange rate in the unofficial foreign market is quoting close to 52.50 though officially it is at 51.85 as of yesterday's figures.

Foreign exchange dealers anticipate this rate touching close to 54 in very near future due to continuous outflow of FII money from stock markets...

Regards,

RightMan

 

Good news when receiving payments from USD to INR

Bad news when sending payments from INR to USD

 

just comment if you are Indian.I think you already get quite better benefit then me.in my country $1 means 12,000 ,imagine that.and imagine as well how "better is Indian economy then my country.however.I think paypal is not "instant update or the currency converter.it about late 3-4 days.If I were not mistaken