😅 How does Paypal determine the currency conversion rate?

[MoneyMouse]

I noticed that Paypal's rate is different from the daily rate, how is their rate determined?
For example, on April 23, 2018 I had a Paypal transaction that says

1 USD = 1.2429 CAD

But I looked it up, and 1 USD = 1.2833 CAD according to the Bank of Canada daily exchange rates on that day,

so how do I figure out Paypal's rates?

[sharpiemarker]

@MoneyMouse 

https://www.paypal.com/ca/smarthelp/article/where-can-i-find-paypal's-currency-exchange-rates-faq197...

Cool screen name. 🙂