Currency conversions by Ebay seem high against the £

[dutchman48]

I just looked at some UK listings and it seems the Ebay is not using correct ratios from £ to Can $

Can an expert on exchanges verify that for me as I looked at £115 and Ebay says it is $217 Canadian.

[pierrelebel · Accepted solution]

115.00 GBP

=

204.537 CAD

However, the British Pound has fluctuated wildly today.  So the rate you saw would have made sense at some time today.

I should add that the rate shown above is the closing rate at the end of the day.  eBay generally uses the opening rate.

PayPal uses the actual rate at the time of the transaction PLUS 2.5%

[ypdc_dennis]

The UK voted yesterday in a referendum that went 52% in favour of leaving the European Union.

http://www.bbc.com/news/uk-politics-32810887

This has had a big impact on currency exchange rates world-wide.

eBay sets their rates once a day, paypal adjusts on a more frequent basis.

-..-

[dutchman48]

So, if you are buying right now, you will get the Ebay shaft

[cumos55]

The UK was unique when it joined the EU,,,,

It kept the GB Pound as its monetary unit... not the Euro.

Problems with Greece.... were big problem for the EU...

What next... with respect to Scotland.... and then Northern Ireland/Ireland..... as indicated in the information  about the vote....

[cumos55]

Northern Ireland, Scotland and London voted to stay with the EU

[dutchman48]

Does that mean London will become a separate country?

[cumos55]

? ? ? ?  Lots of questions

The stock market is in a very volatile state

Right now there is no guarantee of anything.... There has to be a final decision.... and then a split by agreement.

A decision at close to 50 % is not perfect... a highly volatile situation

[cumos55]

Let us go back to the last Quebec referendum in 1995.

There was a 93.52 % turnout

The vote was 50.58 %....  No to Quebec leaving Canada.

and look where we are today.

-----------------------------------------

Things will adjust in the UK... as it did for us in 1995.

Scotland and Northern Ireland may be a problem.... perhaps....

[reallynicestamps]

Apparently if there is another Scottish Referendum, I have the (birth)right to vote.

Even though we emigrated in 1952.

Gotta love dual citizenship.

Scotland, from what I understand, stayed with the UK in order to stay in the EU as much as anything.

Ye canna trust thon bluidy sassenachs.

The loonie dropped too.

The parts of England that voted Remain, are heavily the parts where the wealthy and highly educated live. And of course London is The City and has been a financial centre since the 1700s.

[ypdc_dennis]

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@dutchman48 wrote:

So, if you are buying right now, you will get the Ebay shaft

---

Why did you qualify your statement?

ebay currency conversion suggestions have NEVER matched what the buyer will actual pay (except when the buyer uses the same currency as the seller),

-..-

[dutchman48]

Not sure what you are trying to say, but when 1£ = $1.77 Can  exchange, £115 does not = $217

It is back to where it should be this morning

[pierrelebel]

As I stated earlier, the value of the British Pound yesterday fluctuated wildly due to the unexpected result of the referendum.

eBay generally calculates conversion based on the rate available at the beginning of the day.  It has nothing to do with PayPal.

At the beginning of the day yesterday, the British Pound was trading at approximately Cdn$1.90

Take a look at the chart:

http://finance.yahoo.com/echarts?s=GBPCAD%3DX+Interactive#{%22range%22:%221d%22,%22allowChartStackin...}

The fluctuation from the high to the low was the highest in recorded history for the British Pound.

So when priced at £1.00=Cdn$1.90, £115.00 would be equivalent to $218.00

The actual amount charged by PayPal may be much less depending on the time of the day when the amount was actually paid.

[pjcdn2005]

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@dutchman48 wrote:

So, if you are buying right now, you will get the Ebay shaft

---

PayPal adjusts their rates throughout the day so the buyer would pay whatever the PayPal rate was ar the time of payment so I,m not sure how they would be 'shafted' br eBay.