I am not too sure as have never cared to check the update time myself but it appears they must be updating their conversion rates more than 3-4 times a day... particularly when volatility is relatively very high! Regards, RightMan
Paypal has clearly stated that they earn 2.5% from currency conversion. After all they're also doing business and needs profit.
Expect little more lower exchange rate today as dollar has dipped below even 45 in the spot market! Regards, RightMan
The right strategy to get good exchange rate is to keep eye on spot market and stock markets. If stock markets are expected to fall in near future then there is huge possibility that dollar rates may rise. Also one more strategy is very clever, paypal updates it currency rates twice a day, So therefore we get enough time to take decision if we see big movements in currency rates. On last Friday the rate offered by paypal was 44.18 but i decided to withdraw later expecting further downside in stock markets which will rose the currency rates. But on monday morning when market opened the dollar thrashed by 60 paise, which was going to give me good loss as i was having $2k in my account. What i did was immediately opened paypal withdrawal page and checked for currency rates, whoa it still was offering same rates as on Friday, and whats next i immediately withdrawed $1500. So in short by staying alert i got exchange rate of 44.18 when spot market rates were trading at 44.86/90.
^^Are you aware of the exact time of the day... when Paypal updates the conversion rate? Regards, RightMan
I asked same question few days ago but no one answer for that Better for us to keep watching at their site itself by visiting withdrawal page. DON.
Can you please explain the basis of your observation? I just wanted to know how you can look to predict such things... unless of course, you have the ability to look into the future! Regards, RightMan
Can't tell you exact but from my past observations i had seen that it is update around midnight 12(U.S time) and morning 9(U.S time).
It fluctuates every second of the day albeit very small movements but predicting how it will move long term as someone else has mentioned if you knew for certainty you would be one of the richest people on the planet.So the answer to your question is no one has a clue
Since the stock market is doing very well... it is but natural that INR would remain weak. FII's seem to be pumping in huge dollars in the Indian stock markets and so there appears no respite in the rupee conversion rate... at least in the very short term!
In fact... the very short term looks dodgy as stock markets are taking it on the chin... world wide. We are expected to see more downsides in Indian equities on coming Monday and therefore good appreciation in dollar! Regards, RightMan
The spot exchange rate of 45.223 still looks very good when compared to Paypal's 43.5922! Regards, RightMan
hello friends if you have any money in usd.beter to withdraw.becasue doller arte will go more down.i am a forextrader.as of my exp usd will coem to 41 in next 2 months