PayPal's Currency Converter

[James]

Something seems to be very wrong with the exchange rate converter on PayPal.

I have just received a payment of $2057.28USD (after fee) for a sword I sold, and PayPal has converted this to be $2073.42AUD.

When I saw this, I was rather surprised because I thought it would be more than this. So I used PayPal's Currency Converter to check, and sure enough PayPal says that $2057.28USD = $2073.42AUD.

 

But here's my problem...

I then reversed the conversion i.e. I entered in $2073.42AUD to covert to USD, and according to PayPal's currency converter, $2073.42AUD = $1953.34USD.

 

This makes no sense. How can it be that when I convert $2057.28USD to AUD I get $2073.42AUD, but when I convert $2073.42AUD to USD I get $1953.34USD?

 

I think I'm being shortchanged here. I have checked on other Currency Conversion sites such as http://www.xe.com and they give equal conversion rates whether it be USD to AUD or AUD to USD.

 

Any ideas?

[nagamaki - Franco]

Any ideas?

 

Finance is the art of passing money from hand to hand until it finally disappears.

Robert W. Sarnoff

[John A Stuart]

That is really par for the course in exchanging currencies. Even at exchange booths you will find that they make their money in these transactions with these hidden fees. If you went back and forth enough you would whittle down the principle to almost nothing. Standard OP I'm afraid. Rates can be different depending what service you use but always lower than actually quoted in exchange lists. John