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Difference in currency

Kei

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#1
Considering the fact most most of the online sites pay in dollars. Is it so much of a difference when you convert to your local currency?

For instance $1 is equal to N356 in my country. So I'm earning more after conversion. What about you?
 

ahmedo24

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#2
The same thing applicable to me but since we sell mostly to e-currency exchangers the value is usually reduce to $1 for N300 for them to get their profit too though this depends on the exchanger.
 

Kei

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#3
The same thing applicable to me but since we sell mostly to e-currency exchangers the value is usually reduce to $1 for N300 for them to get their profit too though this depends on the exchanger.
Yes I also experience this rate of reduction. Like you really said, that's how they make profit but in my opinion, it is a bit too high. I think the rate should reduce as the amount to exchange increases.
 

Gabbar

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#4
It's applicable to all of us but PayPal charges us for conversion as well. For example earlier one dollar was equal to 71 INR but PayPal paid me on 68.50 approx. So PayPal is taking its fee like that as well.
 

johnywalker

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#5
Based on the currency conversion, the people In Asia and Africa are earning more than the people in America and Europe. Living cost is also high in America and Europe compared to Asia and Africa, therefore, Asians and Africans benefit from online earning.
 

moh254

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#7
It depends with the value of your currency. Some country's currency are very low and after converting like $5, the person will end up with several notes. I can at least say Kenyan Shillings (Ksh) is somewhere better than many countries.
 

chameli

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#8
I am from Nepal. I recently received $30 from DG. Based on the current rate, this amount translates roughly as 3510 rupees. This amount will pay my gas bill for the entire month.
 

A K Rao

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#9
The value of dollar varies from time to time . today the value of $1 is equal to 72.92 Indian Rupees. So according we should get the payment but it has been observed that we are paid less and the amount we received after the processing fee by Paypal it becomes bit smaller than the actual value!
 

chameli

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#10
The value of dollar varies from time to time . today the value of $1 is equal to 72.92 Indian Rupees. So according we should get the payment but it has been observed that we are paid less and the amount we received after the processing fee by Paypal it becomes bit smaller than the actual value!
Forex rate charges frequently. The current USD to Nepali Rupee is 1:112. I no nothing about forex because O never took interest n economies. I do not know what changes the exchange rate frequently.
 

Kei

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#11
The value of dollar varies from time to time . today the value of $1 is equal to 72.92 Indian Rupees. So according we should get the payment but it has been observed that we are paid less and the amount we received after the processing fee by Paypal it becomes bit smaller than the actual value!
That the way it has been especially with PayPal between. The value becomes lesser. Talk less of when you are using a third party exchanger with PayPal. It further decreases.
 

ahmedo24

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#12
The exchangers are also supposed to increase the exchange rate whenever dollar increase against our respective local currencies , I will contact my exchanger when I am done with confirmation of the current price of dollar to my local currency because it fluctuates.
 

overcast

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#13
I think paypal is the most expensive when it comes to the payment conversion from USD to any asian currency.And they seem to be charging higher conversion fees and transaction fees. You can see that compared to the transferwise and the payoneer. It can be pretty expensive in the due process.
 

Gabbar

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#14
This price of dollars keep changing daily and the bigger fact is PayPal charge us everytime for the conversion. When we get paid through Paypal, we need to pay fee and after that paypal pay us at a lesser price so they charge us twice.
 

ahmedo24

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#15
This price of dollars keep changing daily and the bigger fact is PayPal charge us everytime for the conversion. When we get paid through Paypal, we need to pay fee and after that paypal pay us at a lesser price so they charge us twice.
Does PayPal pay you base on the current rate or on a fixed rate. Aside PayPal deductions does the local banks also charges another fee?.
 

Gabbar

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#16
Does PayPal pay you base on the current rate or on a fixed rate. Aside PayPal deductions does the local banks also charges another fee?.
Local bank doesn't charge but it's PayPal. As I already shared above.
For example If I request payment at 10 dollars then we'll get only 9.13 and after that PayPal will pay us at lower price like if it's dollar is at 70 INR they will pay us at 67
 

ahmedo24

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#17
Thats not bad at least bank will also take its interest too, if there is an app that sends money directly to local bank account to limit charges and also pay at current dollar rate will be the best.
 

chameli

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#18
Because of foreign exchange rate, I believe people in Asia and Africa, it is easier to survive from internet money than for the people in the America and the Europe. When I make $100, it will translate into 11,200 local currency. This amount can pay my internet, phone, and gas bill for the entire month.
 

amitkokiladitya

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#19
This is reaya benefit for people living in Asia. Most of the online sites are paying in dollars. The price of dollar is higher when compared to that of Indian rupees. So if I'm earning one dollar per day I'm actually earning 70 Indian rupees. The amount adds upto some handsome amount at the end of the month which is definitely much more that my internet cost per month.
 

Gabbar

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#20
Dollar is presently at around 69 INR and a few weeks ago it was at around 74 INR so it's doing well and there were a few predictions that it can touch 100 INR but in a way its a good thing that it didn't and its in control now as it will be a very bad thing for the economy.
 
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