Can anyone tell the approx % by which paypal's exchange rates differ from the market's actual rates? I am interested in USD & INR exchange.
I've just googled your issue and found this; Paypal has the currency convertor at there site: https://www.paypal.com/us/cgi-bin/webscr?cmd=_convert-currency-generic They add 2.5% to the exchange (their fee) and the convertor includes this
In PayPal just try to send some money in US$ and you will see the exchange rate displayed in the next step "PayPal's exchange rate as of 19-Jun-2012: 1 Indian Rupee = 0.0172675 US Dollars" (ie. 1USD = 57.9122629) For your bank rate call them and ask them or check on their website for daily exchange rate.