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Currency Conversion Rates

PayPal Employee

Currency Conversion Rates

Hello everyone!


One of the questions we hear in the Community is about Currency Conversion rates and how it works within PayPal.  I wanted to take a moment to share some information with you about this topic.


The Canadian dollar is currently at par with the US dollar, according to the Bank of Canada. Bank of Canada exchange rates are nominal quotations — not buying or selling rates — and according to the Bank of Canada are only intended for statistical or analytical purposes. Exchange rates applied by financial institutions differ from this rate. The Bank of Canada provides information on nominal quotations on their web site at


PayPal’s exchange rates are the market rates set by our banking partners and are updated regularly. In addition to the exchange rate, PayPal also charges a 2.5% currency conversion fee to exchange funds from one currency to another. The resulting exchange rate charged by PayPal is similar, or in some cases less than the exchange rate Canadians would be charged if they shopped in the United States using a Canadian credit card.


PayPal works to be transparent about our fees. To find out what the exchange rate you will be charged by PayPal, log in to your PayPal account and go to the “My Account” tab.  Then select “Overview”. In the top right hand corner a link called “Currency Converter will calculate the current exchange rate.


I hope this helps clarify how currency conversion rates are calculated and applied.  If you have further questions, please don't hesitate to post a question in the Community.



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