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  1. #1
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    Default Why Paypal did not uptodate rate?

    Today I check that $1= Rs. 50/- (Indian) .. I check it all the site. But when I check it in paypal then its shows that $1= Rs. 48/- Only which is previous rate. So, My question is - why paypal did not uptodate it??

  2. #2
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    Yes paypal is giving much less exchange rate than the rate prevailing in the market. I think this is due to the difference between buying and selling rate of dollar. There are always the difference in those two rates of any currency.

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    Quote Originally Posted by ssarkar
    Yes paypal is giving much less exchange rate than the rate prevailing in the market. I think this is due to the difference between buying and selling rate of dollar. There are always the difference in those two rates of any currency.

    But I am not a Buyer or not a seller !! :P I just want to withdraw my money ? Then why I loose per $ = Rs. 2/-?? Its a very bad for us. I don't like it. :twisted:

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    its really strange.i just have a search for the rate and it is 50.525 Ru per 1$,so i also feel it is confusing me.
    i just have a search with CNY with dollar and it has rised a little,i hope it will be process correct while exchanging.
    so you 'd better write a message to their support.

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    Quote Originally Posted by paramita0101
    Quote Originally Posted by ssarkar
    Yes paypal is giving much less exchange rate than the rate prevailing in the market. I think this is due to the difference between buying and selling rate of dollar. There are always the difference in those two rates of any currency.

    But I am not a Buyer or not a seller !! :P I just want to withdraw my money ? Then why I loose per $ = Rs. 2/-?? Its a very bad for us. I don't like it. :twisted:
    As you are exchaning dollar for Rupee, actually you are selling dollar and this is the way the 'selling' term denotes in financial sector. While you want to exchange rupee for Dollar, that time you would selling rupee. But what paypal is offering us, is seriously a big issue, as the difference is not that much.

  6. #6
    hyxfei is offline Veteran Member I was here more times.
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    Default Re: Why Paypal did not uptodate rate?

    Quote Originally Posted by paramita0101
    Today I check that $1= Rs. 50/- (Indian) .. I check it all the site. But when I check it in paypal then its shows that $1= Rs. 48/- Only which is previous rate. So, My question is - why paypal did not uptodate it??
    well. different sites provide different exchange rates. it's normal . think you only can wish them to update the rate compared to the bank rate.

  7. #7
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    Default Re: Why Paypal did not uptodate rate?

    Quote Originally Posted by hyxfei
    Quote Originally Posted by paramita0101
    Today I check that $1= Rs. 50/- (Indian) .. I check it all the site. But when I check it in paypal then its shows that $1= Rs. 48/- Only which is previous rate. So, My question is - why paypal did not uptodate it??
    well. different sites provide different exchange rates. it's normal . think you only can wish them to update the rate compared to the bank rate.
    I agree with you different site have different rates but i think Paypal is deducting their fees from or their will be other reason other site is giving promotion to attract more peoples but USD and local currency rate get up or down within some second some time.

  8. #8
    hyxfei is offline Veteran Member I was here more times.
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    Default Re: Why Paypal did not uptodate rate?

    Quote Originally Posted by moneymoney
    Quote Originally Posted by hyxfei
    Quote Originally Posted by paramita0101
    Today I check that $1= Rs. 50/- (Indian) .. I check it all the site. But when I check it in paypal then its shows that $1= Rs. 48/- Only which is previous rate. So, My question is - why paypal did not uptodate it??
    well. different sites provide different exchange rates. it's normal . think you only can wish them to update the rate compared to the bank rate.
    I agree with you different site have different rates but i think Paypal is deducting their fees from or their will be other reason other site is giving promotion to attract more peoples but USD and local currency rate get up or down within some second some time.

    YES.you got it even USD &local currency has it own rate to up or down .it's hard for those site to update immeditely and there is another reason that sites has competition among them also.

  9. #9
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    Default Re: Why Paypal did not uptodate rate?

    Quote Originally Posted by hyxfei
    Quote Originally Posted by moneymoney
    Quote Originally Posted by hyxfei
    Quote Originally Posted by paramita0101
    Today I check that $1= Rs. 50/- (Indian) .. I check it all the site. But when I check it in paypal then its shows that $1= Rs. 48/- Only which is previous rate. So, My question is - why paypal did not uptodate it??
    well. different sites provide different exchange rates. it's normal . think you only can wish them to update the rate compared to the bank rate.
    I agree with you different site have different rates but i think Paypal is deducting their fees from or their will be other reason other site is giving promotion to attract more peoples but USD and local currency rate get up or down within some second some time.



    YES.you got it even USD &local currency has it own rate to up or down .it's hard for those site to update immeditely and there is another reason that sites has competition among them also.
    But its bad that they did not gives us the right tare.. Paypal is dealing with currency - so, its their duty to uptodate their rate daily.. Very bad service..

  10. #10
    hyxfei is offline Veteran Member I was here more times.
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    well even a single day the bank rate of each currecny will chang every hour.
    ofcourse we'd like to that they upgrade the rate accordingly . but think they won't. sigh...

  11. #11
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    ya thats true the exchange rate is $1=50 but in paypal we get only $1=48 and doesn't fluctuate more, may be they deduct their commission in that also

  12. #12
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    As a commission paypal is deducting 1 dollar, i.e., Rs. 50, so how come they deduct more Rs. 2 per dollar, I can't understand. Is is possible to get a satisfactory answer if I ask them about it?

  13. #13
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    Paypal deduct their charges for money transfer.Obviously they take charges for transferring money.

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    Default Re: Message

    Quote Originally Posted by revvv1234
    Paypal deduct their charges for money transfer.Obviously they take charges for transferring money.
    But for that they deduct 1 dollar when the total amount is less than Rs, 7000.00 ( in India). Is this amount not the charges for transferring money?

  15. #15
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    yes even till today paypla is giving the same old lesser rate for me. i recently withdraw my money form pp to bankn account and i got paid very less now

  16. #16
    hyxfei is offline Veteran Member I was here more times.
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    well. here we even can't withdraw our paypal money directly to bank account. so there is no way for us to worry about the rate...
    paypal only update the rate bi weeekly as i remember.

  17. #17
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    hyxfei, what is your country? It is surprising that your bank doesnot allow you to withdraw money from paypal account. Then we must say we are lucky enough in this respect.
    Is it true that paypal update rates bi-weekly?

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