Paypal Rate Of Exchange On British Pound

As most know by now, the UK voted to leave the EU- I am a bit flabbergasted at the lack of any discussion on this that I can find. Maybe our UK members are sleeping late today?

I have some lots from UK vendors I am watching. It would appear as of today, the quoted exchange rate is still set at ovef $1.50 US. How long might it be before this is changed?

Someone on another board reported Paypal is not permitting conversion for now of other currencies into Pounds.

Well, we're probably politely eschewing discussion of politics, religion or other subjects unfit for polite company. At present, we have a Prime Minister who's resigned following a series of gross miscalculations, and a set of politicians looking at one another and saying, "What now?". If it wishes to leave the EU, the Government needs to trigger Article 50 of the EU Treaty. Early indications are that it may be some months before it does so, causing some angst amongst those in Brussels not entirely conversant with Parliamentary processes, who are demanding immediate action. In a sensible world, there might now be a proper negotiation around EU reform, which could avoid the need for a UK exit, but ...

The £ rose aginst the $ yesterday, then dived when the financial services industry realised, after a couple of early results, that its exit polls had been hopelessly wrong. The £ also fell against the €, but, given the fundamental weakness of the €, may well make up some of that ground in time for my visits to Rheims in July and Tours in September.

I suspect that PayPal is just like your bank: buying cheap and selling dear.

Paypal perhaps is following policy. When things are unsettled, they will go with the exchange rate already being used until they stabilize. If I am looking for some good buys as a result of devaluation, I will need to be patient for a week or so.

Hope it all works out for you folks. The wife mentioned today maybe we should think about going to the UK later this year, assuming the rate remains favorable.

Beware of crazed xenophobes walking the streets. Well, The Donald is already here ...

https://www.theguardian.com/us-news...rrives-in-uk

Well, you picked a person with a large mouth and no.... Oh well, when are they closing the Channel Tunnel?

Peter

Buying anything priced in Sterling is a good idea right now.

FEEpal will must change pound exchange rate. And I can guess that pound is going down and down. There are some predictions that pound value will be equal to the euro value till the end of this year. So, goodbye british vendors

What I have been looking at is the listing screen where you see the price in both currencies. On those listings it looks like they are still using $1.50 as the basis for calculation. That my be different if you actually go through checkout.

What I should do is make a small purchase for a few dollars and see how it is calculated.

I did write on another board that Paypal had 'closed' their £-$ exchange rate so that I could not withdraw money to a UK account.
That was the case all morning and up to mid-afternoon but I have not tried since.
My money still sits in $'s !

What will happen if I buy something from british ebay (prices in pounds) and have paypal account in dollars?

You will be the victim of an appalling exchange rate and will also have to pay a 'Cross border' fee.

The Exchange rate was open again today at PP and it proved to be a mid-way point between Brexit and pre-Brexit !

That's what I expected anyway.

Seeing as the recent referendum was mentioned, here is the result of the voting in Scotland colored yellow for REMAIN and blue for LEAVE. The reason for there being no blue on the map of Scotland is due to every one of the 32 local authorities voting to stay a member of the European Union.

FEEPal exchange rate of GBP is still insane overpriced. FEEPal will must drop GBP value because GBP is going down. Do they live in some paralel universe?

We got a lot of experts on the news services and in the press . Everyone thinks they know what is going on . Let me clear the air about the exchange rate .
The answer is NOBODY is a expert on this and nobody has ever seen this before .The traders {like myself} widen the difference between the buy and sell price and ONLY trade if they can quickly cover what ever side of the market they are on . Quit your crying about it .....the experts don't know where this thing is going.
I am sure PAYPAL is asking around to the different currencies trading desk ----PLEASE GUYS GIVE US A BUY AND SELL PRICE SO WE CAN HANDLE OUR CUSTOMERS .

There is no such thing as "INSANE OVERPRICED" in the world of trading the market ,you can tell a inexperience person with a remark like that . PRICES are a reflection of emotions and demand . Right now emotions are running strong because nobody knows what is to come .

If the market reflects emotions and the emotions are insane, then the prices are insane.

Personally, insane is too strong of a word, but financial markets have a strong tendancy to overreact (in both directions).