Paypal is paying Rs 38.16 per dollar whereas Indian Rupee is trading above 39 since long. Can anybody tell me why they are paying less ??
What a crappy reply . Just don't reply, if you don't know about the answer. Read the post twice before replying. Paypal pays 38.16, deducting the conversion charge as mentioned by others above and not 1$=37.9957 and still you forgot the conversion rate over. Brush up your mathematics, dude. Indian currency never fall below 39 . Thank you above all others for the reply. I got it.
In this free market economy, currency exchange rates is not fixed at a single rate but there is two rates, buy and sell rates. Then to complicate things, different banks would use different rates. At the same time, there is no requirement to fix the exchange rate if it is changed in the US or in India. They can vary quite vastly. Paypal uses the exchange rates provided by the bank it uses and where I am from, the banks usually do not provide very attractive rates. At this moment, there is nothing really much you can do about it. If you look at XE.Com, at the moment, the exchange rate listed is US$1 : 39.3050 INR and if you deduct the 2.5% foreign exchange fees which is 0.982625 INR thus given you a rate of US$1 : 38.322375 INR which is roughly what Paypal quotes you. The exchange rate can vary even hour to hour. I am not sure which bank paypal use so I cannot find out what is the exchange rate that the bank uses.
Just to let you know that currently paypal pay $1=37.9957 INR as conversion rate. I think you don't know that. Try to withdraw funds from your paypal account and check yourself They pay less because of 2.5% conversion rate while withdrawing. DON.
You are wrong , buddy !!!!!. Just checked it again now , paypal pays INR Rs38.12 per dollars. I have withdrawn around 6 times last month.
Try to be polite, anyways Currency Rates change every minute, so it is possible that he may have withdrawn money when currency rate was low
when i checked, the currency rate shown was 1 U.S. Dollar = 37.9957 Indian Rupees hence i posted that. sorry if you felt it was a crappy reply. Brush up your mathematics, dude. better tech that to paypal since i copied directly from the paypal Website.
Paypal pays the credit card exchange rate, it was the norm when it was USD and now the same even applies to INR. Hope my reply helps, Regs, Digi
Sorry, I guess I should be more polite. But still, I know that cannot be possible as I also trade in forex and BSE. This is my daily side business.