I have always see this. Today I thought lets ask buddies here. Today I withdrew money.. this is the conversion rate of Paypal. Exchange Rate: 1 U.S. Dollar = 39.0487 Indian Rupees This is what I found in Google the rate of INR 1 U.S. dollar = 40.3437286 Indian rupees I also checked at XE.com and found this there 1.00 USD = 40.3702 INR Already the Dollar is falling big time with Rupee and Paypal conversion rates are still lower. We Indians are loosing lots of money in just currency conversion!!! ..:: peace ::.. Jeba
As you already mentioned, the US Dollar is weakening which means that you will expect lower exchange rates. Some of the online exchange rates such as XE uses rates from a different source as what the Paypal bank uses. Different banks have different exchange rates. Also as indicated on Paypal website, there is a 2.5% foreign exchange fees which is included. Paypal does not have any real control over the exchange rates as it is defined by the bank they used. Indian users are not the only one getting lower exchange rates. Anyone who trades in US dollars will suffer too but then in the end, in theory, if you earn Rupees then things from the US would in theory be cheaper.
Paypal currency conversion rates also include their handling fee. You think paypal is sending money to your bank account for free?
Yes thats true. As indicated on Paypal website, there is a 2.5% foreign exchange fees which is included in this thats why their exchange price is low. BTW just checked this with Xoom. Current Exchange Rate: US$ 1.00 = INR 39.1149 Rate is little bit higher then paypal And its lot quicker then paypal. (You will get your funds within 3-4 days max.)
Whats the rates are, PayPal includes 2.5% currency exchange fees as well. Dont forget them which totls about INR 0.90 - INR 1 So, for every dollar, you loose 1 INR
Paypal take some transaction fees so better use xoom to witdraw your money US$ 1.00 = INR 39.1149 they give good exchange rate. but they charge 8$ fees. try to insert some coupon code to get discount on fees
It means XOOM is cheap and best way to get money home btw do anyone know how can we check paypal todays's exchange rate? i just want to know so i can see before i take money.
i think u have to start the cheque withdrawal and just before the final confirmation it tells you the conversion rate that you will be getting on the transaction. therefore, just try to withdraw 10$ (do not confirm, in the end) to see the conversion rates
Today rater is good It is equal to market 40.25 INR I think PayPal has changed its conversion rate and giving current market rates
Paypal does not decide the conversion rate, it is fully dependent on the foreign exchange rates used by the bank which Paypal uses. The US dollar has risen a little this two days and that is why you see a slight increase. It will come down when the US dollar falls and goes up when it goes up. The rates are not fixed and it varies day to day.