Hello On September 6th, I sent a payment of $2100 to my vendor on his Paypal India account. He has reported that he received just Rs 138,438.92 in his account. I personally was expecting the number to be higher (1 USD ~ Rs 72)
Can someone please give me the breakdown of Paypal fees and currency exchange rate applied?
FROM PAYPALS HELP PAGES............... Here's how we set our exchange rate when making a conversion like this:
•We receive a wholesale rate quote from our bank twice a day to determine the retail foreign exchange rate to apply to transactions that involve a currency conversion. •Our currency exchange rates are competitive with conversion rates used by banks and by currency exchanges. (Please keep in mind that some of the rates quoted in the newspapers or online are the inter-bank rates that are available only to the largest international banks purchasing currencies in large quantities. A more applicable comparison for consumers is the exchange rates quoted at airports or other consumer currency exchange shops.)
Advice is voluntary. Kudos / Solution appreciated.
