unfair Dollar exchange rate.

[mlartsandcrafts]

I live in Canada and like to have funds transfered from paypal to my bank account, as I have done the last 10 years. However this time around paypal will only give me $0.94 instead of the going rate of $1.02. I am so upset. They charge right left and center. Can they do that. I really would like an answer

Thank you

Marita

[007steveb16]

For 10 years you've gotten $1.02 as the "going rate", everytime??

[mlartsandcrafts]

No, No I did not explain right. I have been dealing with eBay for 10 years and always received a fair dollar for dollar exchange, exept now.

[pjcdn2005]

If you were changing Canadian dollars into U.S. dollars you would receive $1.02  U.S. for each Canadian $ less a 2.5% service charge that Paypal and most banks charge.

But you are doing the opposite...You are selling U.S. dollars and want Cdn $ in return.  The U.S. $ is worth less right now so for each U.S. dollar that you exchange, you receive .97 cents Canadian less the  2.5 service charge which comes to .94.

These figures aren't exact as I'm rounding off the numbers.

[redshoshk]

I was also losing lot of money in exchanging U.S to CAD dollar, but I solved the problem, start listing your item in Canadian dollar, don't worry, you will still will have the same sale.

[celebpixs77]

USA is POWERFUL and the buyers in USA will prefer to see in US $$ not in Canadian $$.  So good luck with your sales.

[recped]

Actually most Americans have no concept of exchange rates, they see $ and it never occurs to them there is more than one kind of $.

Many Americans are not really aware that Canada is a different country just like many are not aware that Puerto Rico is NOT a foreign country.

Selling in US$ rather than CA$ was a smart move 10 years ago when US$9.99 was CA$14.99, nowadays not so much.

In any event I think the default on .com is to convert foreign currencies to US Dollars so that's all they see anyway.

One thing, if you do switch consider also switching your billing currency otherwise you will get burned on the exchange and effectively pay 2.5% more on ALL your eBay fees. Just keep in mind, you can only switch your billing currency once per year.

[icemantbi]

Same thing here.. Getting awful exchange rates.  I'm leaving money in Paypal in the hopes it will get better.  Not much you can do really, that is out of our control.  I do think that compared with banks, that Paypal is relatively fair with the exchange rates.

All you can do is inflate your prices a bit.  I would rather list in $US as I an control what the price looks like ($12.99 looks better than $12.43 for example)

[recped]

I'm leaving money in Paypal in the hopes it will get better.

It will but it could be a very long time. Yesterday's big anouncement from the Federal Reserve is probably going to mean a high Canadian Dollar for the next 2 years at least (unless something truly dramatic happens).

[anguscoinshop]

Even with the US's badly faltering economy, the US $ is still the default currency worldwide, as long as they dont default it will remain this way and every international company will keep using exchange rates base on the US dollar. No matter how far ahead the canadian $ gets, ebay and paypal will never go at par or better.

The only thing ebay does wrong is they use deception for auctions and buy it now price, they always show the real time exchange between but when you go to pay they get you for 3 or 4 ct the $ if you go from Cdn to US.

Be vigilant on whats going on ebay and just keep an eye on the market outside ebay.

The US economy is really hurting with high unemployment

Do change all your currency to the Canadian dollar, as long as our currency is strong you will be ahead. 2,3,4 ct to the dollar, it does ad up.

[pocomocomputing]

Do change all your currency to the Canadian dollar, as long as our currency is strong you will be ahead. 2,3,4 ct to the dollar, it does ad up.

I do not understand. The US Dollar is is worth 96-97 cent Canadian. What yo you mean you will be ahead 2,3,4 cents exchanging to the Canadian dollar. You will be "behind" 2-3-4 cents on an exchange.

With the current trend, the Canadian dollar is getting even stronger and US Dollars will be "behind" 4-5-6-7 cents.

I do agree that a seller should exchange US dollars to Canadian dollars soon as the short term trend is not good for the exchange. But your post sounds backwards in the reasoning.

[anguscoinshop]

When you buy, try to buy from sellers how sells in Canadian funds.

I often ask a seller to give me a listing in Canadian $.

pomocoputing your not reading my post properly

Simple, as a seller, if you only deal with the Canadian Dollar (listing and billing) you wont be paying the exchange rate that paypal charges to transfer to your bank account witch is about 4%, or your payment to e-bay, hence saving money.

[dipmicro]

Only 30-35% of my expenses in CAD (wages, supplies), rest are expenses in USD. If all sales were in CAD, I would have to change 2/3 of revenues to USD and pay exchange rate.

Currently about 30% my revenues are in CAD and 70% in USD, so I rarely have to do exchange.

[pocomocomputing]

You did not say to list in Canadian currency at all in your post. No wonder it is so confusing. I do not think anyone reading your post would understand you meant to list on eBay.ca in Canadian dollars.

[anguscoinshop]

Folks with some knowledge with finance understand my post.

dipmicro is a good example, he knows how to make it work for his particular case.

[cumos55]

I follow a specific pricing strategy for my books.

and once that price is established

I add one or two dollars

As an example

If the pricing says 17.99  I boost the price to $19.99

and this covers...

(1) FVF on shipping

(2) GST/HST

(3) and the US to CDN exchange rate

and a bit of profit thrown in for good measure..

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

When I do an evaluation of profitability I look at what the whole sales profile, that is all sales in total, is doing... and not each specific sale.... 

Things have worked out better for this seller when the total  is evaluated  and not just one sale...

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

It is no use complaining about what cannot be changed...

Depending on what one sells... adjust in an appropriate manner...

and if it does not work with what you sell... find new inventory

What I sell today  is totally different than what I sold ten years ago... 

and I am constantly making adjustments.... 

Never leave a stone unturned....  for under the next stone there just may be a $1000 bill...

There are many ways to make an adjustment..

[cumos55]

I have always sold in US dollars.....  Since January 2003

and currently list on eBay.ca

Sell heavily in one specific niche ... and have found complementary categories in which to sell

Sell out of a store... Since March 2006

No auctions..

and am constantly following traffic numbers .. and viewing how my listings are seen in search.... and have adjusted accordingly...

There is no other way to make it happen... atleast for me....

That US to CDN exchange is not big...  unless you make it BIG

[skierupnorth]

The CND and US dollars are par yet the exchange rate is up to .50 cents higher for the US buck on some listings  WTF? this is BS   

[pierrelebel]

"the exchange rate is up to .50 cents higher for the US buck on some listings "

???

That does not match reality.

Could you provide a specific example such as listing number.

The current wholesale exchange rate is approximately US$ 1.0000 = Cdn$ 1.0050

The current retail rate for individuals trading the currency is approximately:

to buy US$ = Cdn$ 1.03

to sell US$ = Cdn$ 0.98

The 5% spread between buying and selling rates is quite normal.

[pierrelebel]

Bythe way, the Canadian dollar has traded in a very narrow spread in the last year, between US$0.96 and US$ 1.03:

http://finance.yahoo.com/q/bc?s=CADUSD=X&t=1y&l=on&z=l&q=l&c= 

Currently (as of close of business on Friday afternoon) exchange rate stands at approximately US$1.00 = Cdn$ 1.0050 (meaning the Canadian dollar is worth about half a cent less per dollar than the American dollar)