Upwork Currency Exchange Rate - USD to INR is wrong

[de4e1c8a]

Upwork currency exchange rate is wrong.
At the time of withdrawl
Upwork showing exchange rate for USD to INR - 73.0900

1 United States Dollar equals 73.09 Indian Rupee
While Google showing different rate.

1 United States Dollar equals 74.73 Indian Rupee

Why this cheating upwork.
see the attached screenshot.Upwork Currency Exchange RateGoogle Currency Exchange Rate

[NikolaS]

Hi Zahid,

Thank you for reaching out to us. 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. 

[dhimmarromesh]

Actually this is not solution Upwork should display exact exchange rate to thier freelancer. I hope in future update Upwork will fix this issue.

[victorkooper]

**Edited for Community Guidelines** Who is telling that UpWork controls exchange rates? Interbanking rate is well above the UpWork convertion rates..**Edited for Community Guidelines**.. now I am complaining against the same. **Edited for Community Guidelines** UpWork using cooked up exchange rates to which INR has never been went. As I am writing today on 18th August, 2022. INR never came below 79 for the entire August month, UpWork is offering hsitty 77.82 per USD. 

[petra_r]

Google shows you the mid-market or interbank rate. You don't get that from any bank. Banks mark up the mid-market rate, that is how they make money.

[richard_wein]

Hi Petra. On a related subject,  I followed the advice you gave another freelancer, to try taking out some money by PayPal and Payoneer, to see if this worked out any better than the rate I get from direct bank transfer (in GBP). I took $500 through each of the three within a few minutes. My bank came out best. PayPal was the worst.