How should I manage currencies?

[collectablejeff]

How should a Canadian seller who sells both in U.S. and in Canada set up the PayPal profile page "Manage Currencies". Should I select the U.S. Currency Button plus make the U.S. dollar primary. It is my understanding that the seller will always pay for the currency exchange differences, so is there a reason why I would set it as mentioned previously. Confused easily.

Jeff

[femmefan1946 · Accepted solution]

Try not to think about it much.

Sell in US dollars. All the world can do the converstions to their own currencies and Americans, still the largest economy, understand no other.

Exchange rates fluctuate minute by minute. You can't do much about it. At the moment the US dollar is higher than the Canadian so we are apparently "making money" on the exchange. But if you think of their currency as bucks and ours as loonies and the Hong Kong dollar as "yen" and the Australian dollar as "ozzies", actually now I'm confused.

Just don't worry. You don't make or lose anything much in the long run. It's like buying something for $1.03 at one store and giving the clerk a loonie and then at the next store paying $1.10 for something priced at $1.08.

[dunwishing]

You are much better off selling in US dollars. I most countries around the world it is easier and cheaper to have access to US$ than it is for Canadian $.  In the past ( when I tried Canadian dollars) I have been asked by buyers in Europe if it was OK to pay in US$. Now I only sell in US$ and have never had a problem.