on 08-08-2020 06:45 PM
Why is the monetary exchange rate, between the US and AUS dollars, set lower than its current rate?
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.
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.