If I'm checking the AUD to USD exchange rate and I use PayPal's 'Currency calculator' (Wallet > Currency calculator) and set 'From' to USD and 'To' to AUD and for today 27 Sep 2023 I enter $100.00 for the USD the Currency calculator shows this would cost $150.84 AUD or an exchange rate of 0.662954.
Now if I go into PayPal's 'Send and Request' and choose one of my contacts and set 'You're sending' to AUD and 'Recipient receives' to USD and I enter $ 100.00 for the USD it shows this would cost $163.15 AUD or an exchange rate of 0.612933.
A bit of a difference isn't it between what PayPal's own Currency calculator gives and what PayPal's 'Send and Request' gives, which I'm told by PayPal's customer service representive is a 3rd party website - REALLY!
Now I'll tell you the exchange rate given in the 'Send and Request' is the CORRECT rate as that IS the rate you WILL get if you either send money overseas with PayPal's 'Send and Request' or make an overseas purchase and pay with PayPal.
Now I don't know what's going on with their Currency calculator! To go back to my AUD to USD rate applicable for today, that rate of 0.662954 is EVEN HIGHER than the 'mid market rate'! Which is IMPOSSIBLE of course to anyone familiar with currency markets. For your information the HIGHEST mid market rate so far today is 0.640612. So CLEARLY PayPal's 'Currency calculator' is WAY OFF!
So please DO NOT use PayPal's Currency calculator to check the PayPal exchange rates. Use ONLY PayPal's 'Send and Request' to view the CORRECT PayPal exchange rates! Perhaps someone here could try in vain to let PayPal know their Currency calculator is - well not working properly!
