the
'conversion rate' you see on tv is the MID RATE.
I.E. it is the average of the buying and selling rates.
so.. if you go to any bank or Bureau d'Exchange you will see various rates quoted
1. the BUY rate, thats what they give you to buy foreign currency you may have
2. the SELL rate, thats what they charge you to sell you some foreign currency
3. the MID RATE, THAT is the average of the above two and is what is generally used as a rule-of-thumb to work out different currencies.
what PayPal charge you is the SELL rate
(and it also factors in their exchange charges)... something the Banks usually
add on after they have done the conversion and charge separately.
so no, PayPal is not skimming money, they are SELLING you a foreign currency, at their SELL RATE.
(THERE is no ACCURATE currency rate by law, the buy / sell currency rates often change 2-3-4- times a day at banks).
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~~ ~~ ~~ Those who do right, have nothing to fear.