Why is the monetary exchange rate, between the US and AUS dollars, set lower than its current rate?

Why is the monetary exchange rate, between the US and AUS dollars, set lower than its current rate?

Accepted Solutions (1)

Accepted Solutions (1)

The same reason that banks don't give you the current, always fluctuating, rate. Or they charge you a foreign transaction fee instead.

 

NO financial institution converts currency for nothing. They are in the business of charging for services, not giving freebies.

Answers (2)

Answers (2)

lyndal1838
Honored Contributor

Paypal builds their fees into the exchange rate rather than charging a separate fee as the banks do.

eBay and PayPal use different financial institutions and their rates will differ.