UAH to USD conversion rate

Temp20220712H
New Community Member

Hello!

 

I'm having a big problem with the conversion rates here in Ukraine.

The thing is that PayPal is turning 100 USD to ~80USD by converting USD to UAH and then putting UAH on my Ukrainian USD account as USD. 

All our banks support commercial rate around 34-35UAH for 1 USD. Now if I happen to have 100 USD in my PayPal account it will be converted to UAH (even if I have my USD card connected) and counted by 29,25 UAH for 1 USD rate. It looks like I don't have any opportunity to withdraw 100$ from my paypal? 

I Understand that PayPal relies on our Ukrainian National Bank UAH/USD rates which is 29,25. But all our bank work with 34-35UAH/1USD rate. That is crazy. Is this situation gonna be changed somehow? 

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1 REPLY 1

ValVal63
New Community Member

Hi,

Have the same issue sending money to my sis in Ukraine monthly. First two transactions in May and June were OK she get money and the same amount transferred to her US account in the bank. Last week they charge 20$ per 100$ and explained this as deviance in currency rates in National Bank and on Market. I think this is a trick where  Ukrainian banks are trying to earn money on poor Ukrainians. I send money in US dollars and she put it on US $ account. What the point to convert them back and forth. Tried to call to paypal   but there is an answering machine, do this,  say that and etc. So no results. Paypal does not charge any additional fee from my credit card when I send to Ukraine. This is local banks game.

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