Paypal Exchange Rates

[Propeller]

I was just withdrawing my funds to my bank a/c and I noticed that the rates are too low( 1$ = 44.74 INR) only.


I want to know, whether the exchange rates differ from Indian Share Market to US share market.


Because , Indian share market was showing (1$ = 46.70 INR).


Anybody know about this.

 

[clemens]

paypal have an explanation somewhere that i read which explains how they figure out the conversion rate for any given day - i think from memory they use the offical 'interbank' rate of exchange for currencies which is meant to be the best rate possible because there should not be a + % commission cost on top if they use the interbank rate


Without actually checking it out I always feel it seemed to be a few points less then offical stock / share market exchange rate too which gets shown on tv or the newspaper?


it should not be but ppal probably take 1-2% to cover their own "costs" for the exchange service?


i know every cent counts but it would only really notice if you were exchanging $100's or $1000's of dollars each time which could add up