The exchange rate that is visible reflects the last exchange rate used by Upwork to convert USD to the said currency. It is intended to provide you with the ability to compare our rate to other competing rates. We typically use spot rates and not daily fixed rates, which means that the rate can fluctuate throughout the day depending on when we executed the transaction. Please keep in mind that the actual exchange rate used for each local currency transfer is available on the next business day when we process your transaction.
 
Please be informed that all banks and currency houses that do foreign exchange will take some spread to guard against volatility in the market. If you are comparing the rate to what you see on the web, as in Bloomberg, this represents the wholesale inter bank rates which is typically higher than banks can convert at. You may also notice that rates differ from bank to bank and foreign exchange processors, this is because it all depends on the current market.