As general the current currency conversion rate 1 $=46.3 INR something but today when I trying to convert currency on paypal during withdraw, I can see thair currency conversion rate showing 1 $=44.8 INR, wtf! that mean thay decreasing almost 2 INR lol. If an India customer try to withdraw 1000$ he should have to get amost 46300 InR. But as paypal currency conversion policy he will get 44800 INR. so?? paypal stealing almost 2000 INR from us? and thats why RBI suspended paypal to do business at India?
Theres a conversion fee that paypal charges. Its 2.5% on my account, dont know how much it is iin India. So whatever it is youll always get less.
You get less amount due to two reasons first paypal charges some fees and buying and selling rates of Foreign exchange is different.The 46 mentioned is usually the buying rate and selling rate of foreign exchange is usually lesser. Correct me if i am wrong.That's why if you go to some banks you can see the Foreign exhange rates displayed with buy and sell and different prices that is what causes the amount to be less + paypal fees
Is the currency conversion changes every minute? Just asking? Anyways, I dont think its inaccurate and I dont think its accurate either. I trust xe.com/ucc to check the conversion
In Forex, the price of any currency changes every second, most seconds. It is rare that it will stay the same second to second.