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hussan143
Community Member

Current Exchange Rate and Upwork Exchange Rate is Different at the time of Withdraw in Pakistan

Hi Team,

I want to notice at the time of Withdraw amount from Upwork Direct to Local Bank (PKR) Pakistan.  Current Currency Rate  $ 1 = 164.23 PKR.  but at the time of withdrawing amount in  "Get Paid Now". Currency Rate is Different that is "157.6600 USD/PKR". why it's different from current rate

 

 

 

 

**Edited for Community Guidelines**

 

 

1 REPLY 1
NikolaS
Moderator
Moderator

Hi Faiz, 

 

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.

 

Edited to add:

 

The visible exchange rate reflects the last exchange rate used by Upwork to convert USD to the other currency. It is intended to provide you with a way to compare our rate to other competing rates. The actual exchange rate is available on the next day when we process your transfer. Please remember that the currency conversion always changes and is not the same every day. The rate you received is the rate offered by our bank at the time your specific payout was processed.

 

Thank you,

~ Nikola
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