UpWork Exchange rates (USD/PKR)

[abbas-khalid]

Hi 

How does Upwork calculate Exchange Rates. I was checking USD/ PKR rates and there is a big difference of Rs 5 between upwork banking partner exchange rate ( Rs 155.59) and the interbank rate in Pakistan (160.50 to 160.90). Rates are available on State Bank of Pakistan website **Edited for Community Guidelines** in addition to other websites**Edited for Community Guidelines**

I understand that many banking partners do this to generate additional  profits but this difference is to much.  

Thank you 

[NikolaS · Accepted solution]

Hi Abbas,

Please keep in mind that the difference in exchange rates is not something Upwork can control. When a bank converts a transaction, they will mark up the interbank rate to buy or sell a currency. Online calculators will not take into consideration the mark up that is applied. Since rates constantly change throughout any given day, the rate you received is the rate offered by our bank at the time your specific transaction was processed. 

[abbas-khalid]

Thank you for the detailed reply