Forex Digest

why is the exchange rate quoted on paypal 3 cent different than the current bank exchange rate when converting from sterling to euro
i bought an item on ebay a little while ago and when i went on to an online currency converter and the exchange rate was 85.3 pence sterling /1.00 euro while the paypal exchange rate is 82.3 p sterling/1.00 euro

Reason 1) Let's say you buy something for a 100 sterling. You are expecting to pay 117.23 euros (100/.853).

Rather than charging you 117.23 euros, paypal charges you 121.51 euros (100/.823). This approximately 4 euros extra becomes a profit for payal. Well this is just a way that services like paypal or credit cards make money.

Reason 2) Currencies are highly liquid and their prices change very quickly. Either the price may have changed really quickly, or maybe paypal had just not updated their pricing or their policies may be to not update their exchange rates that often.

I AM SAYING THAT IT IS MOST LIKELY REASON 1. IT IS THE SAME WAY THAT CREDIT CARDS MAKE MONEY.

2008-11-23 09:22:14 by JJ N

Sorry about the first 30 seconds. This is a simple tutorial on using Dashcode, Mac's new development tool for making widgets. In this tutorial ...

I am trying to figure out how much it will be in US dollars for 564 pounds Sterling. Please provide the very accurate answer. I tried the currency converter in Yahoo, but then got different answer from a bank. Thought that I can use the second, the third, and/or the fourth opinion. Thank you very much for sharing.

The current conversion rate is :
1 GBP = 2.03645USD
GBP --Great Britain Pound;
USD --US Dollar;
564 pounds = 564*2.03645 USD
=1148.558 USD.

There is some difference between the currency converters adopted by the Banks and other currency trading cos. depending upon their service charges and related expenses etc.
One reliable currency converter site is :
www.xe.com/ucc

2007-08-02 21:07:22 by Curious George

I purchase some items from the UK last month & to my understanding the exchange rate changes daily... how can i find the rate for 7/12/06 and convert it into us dollars>> please help Im so frustrated..

mt reciept said 329.55 in EUROs & what hit my bank was $604.71.. please help...

If you were in the UK, you probably paid in pounds not euros. The exchange rate on 7/12/06 was 1 GBP = 1.84230 USD.

329.55*1.84230 = $607.13. Rate can vary slightly based on the credit card, etc. but I think this was pretty dead on.

I can see how you got confused though. The Euro rate is 1.27430 so you might have expected to pay 329.55*1.27430 = $419.95. But, alas, the Brits haven't signed on to the Euro. Something about still wanting the Queen on their money.

2006-08-18 17:11:32 by Melani A

OK in exactly 20months im going to canada n i need 2 understand the currency stuff, can i use american money anywhere in Canda? if so tell me about it. are there currency converter at train stations and air ports? How do i use currency converters, could i just use a credit Card in canada? plz reply in discriptive answers =P
And Also The Place im going to is " Waterloo, Ontario Canada

Canada has a system of coins and paper money very similar to that of the U.S. Most of their coins even look like ours! They use the same words, such as penny, dollar, etc. Their money is worth somewhat less than ours, though, so a US dollar will get you more than a dollar in Canadian currency.

In general, you can't use U.S. currency in Canada, much as you can't use Canadian currency in the U.S. You have to convert U.S. currency to Canadian currency. This can be done at banks and at airports. Also, if you have an ATM card, you can use it at an ATM in Canada and get your withdrawal in Canadian currency, eliminating the need to convert your U.S. currency.

And yes, major U.S. credit cards, including Visa and Mastercard, are generally accepted in Canada.

2009-09-02 18:12:22 by Josh F

http://www.millantiq.co.uk/Yugoslavia-a. htm

I got the one at the bottom (100000 yugoslav dinara), except it has a different girl on it (its form 1989) i received it from my mother when i was prettylitte, and ive kept it, thinking it wasnt worth anything
Now when I checked some currency converters, it said that it was worth the equivalent to around 1,900 USD. Is this correct? And can I exchange this in a regular bank?

HAHA seems like no one on this board knows that Yugolavia went through the world's worst inflation during the early 90's. If that note is from 1989 I would value it between .00000000000000000000000000000001 dollars and zero.

The currency has been changed over and the NEW notes are worth this much, This note however is sadly not.

2008-06-07 14:44:09 by Mr. Owl, PhD