chesco85
Member

Upwork Exchange rate

Hello, I know that this topic has been raised a lot and from what I've read so far, a difference of 3-4% in the currency exchange rate is normal.

However, for Naira, this discrepancy is up to 9%!

I have also noticed that despite the claim that the exchange rate is updated regularly, the exchange rate for Dollar to Naira on Upwork has remained $1 to 332.1913 Naira for the past two years. Not even a change in the decimals.

I do believe this is a problem that needs attention.
3 REPLIES 3
bukyyy
Member

I have been complaining but let me tell you the response, it is the intermediary bank that decides the rate *rme*

mtngigi
Member


@chesco85 wrote:
Hello, I know that this topic has been raised a lot and from what I've read so far, a difference of 3-4% in the currency exchange rate is normal.

However, for Naira, this discrepancy is up to 9%!

I have also noticed that despite the claim that the exchange rate is updated regularly, the exchange rate for Dollar to Naira on Upwork has remained $1 to 332.1913 Naira for the past two years. Not even a change in the decimals.

I do believe this is a problem that needs attention.

 

 

 

Exchange rates are not "Upwork's exchange rates - Upwork has no control over that metric. There are plenty of threads on this topic - like this one that was addressed/answered by an Upwork forum mod:  https://community.upwork.com/t5/Freelancers/Exchange-rate-is-not-properly-updated/m-p/519188#M315909

 

It's helpful to do a forum search before starting a new thread on a subject covered many times over.


 

And shouldn't the fact that the subject keeps coming up on the forum after so many "resolutions" tell you that the subject is infact still a problem to freelancers.

That it has been discussed so many times doesn't mean that it should no longer be considered as a problem. You say it like we should "shut up already"

Like there was absolutely, totally 100% nothing that Upwork could do about it.

Like we should just accept the fact that an exchange rate stayed the same for two whole years. That was my major problem. I could understand that Upwork employed the services of an exchange company that used a rate different from all others.

What I didn't understand was how an exchange company's rate could stay exactly the same for two full years (not even decimal changes) I also don't understand why continued to use the same service after years of complaints.

So, I read the numerous topics on the issue and I wasn't satisfied with the response, hence my own contribution. I'm very sure that there have been numerous complaints following mine.

I guess they should all keep quiet and go read other posts.

My initial complaint was made way back. The current exchange rates on Upwork have been reasonable (at least they now fluctuate) not the stagnant nonsense of way back. There was a problem and it has finally been stopped. We thank Upwork. If nothing had been done, freelancers would have continued to complain and create new threads on a subject that had been "covered many times over"

Thank you 🙂