hensley Posted October 16, 2020 Report Share Posted October 16, 2020 Ok I have to send someone money. I owe them $44,139.60 Pesos It is coming out of my US account which is $2087.96 USD So how much CAD $ do I owe this person. I know a little Algebra. I have my number just want to be sure. Thanks Quote Link to comment Share on other sites More sharing options...
AngusMactavish Posted October 16, 2020 Report Share Posted October 16, 2020 https://www.xe.com/currencyconverter/ 1 Quote Link to comment Share on other sites More sharing options...
hensley Posted October 16, 2020 Author Report Share Posted October 16, 2020 I know that is what I am using but it didn't make sense, so what is your number? Quote Link to comment Share on other sites More sharing options...
AngusMactavish Posted October 16, 2020 Report Share Posted October 16, 2020 No algebra required. 44,139.60 MXN to CAD = 2,753.25 Canadian Dollars 1 Quote Link to comment Share on other sites More sharing options...
johanson Posted October 16, 2020 Report Share Posted October 16, 2020 I got about the same thing. I got $2,756 loonies using a slightly difference exchange rate Quote Link to comment Share on other sites More sharing options...
Whipstock Posted October 16, 2020 Report Share Posted October 16, 2020 Quote Link to comment Share on other sites More sharing options...
hensley Posted October 17, 2020 Author Report Share Posted October 17, 2020 Ok so I send her $2088 usd out of my account and she gets more $2754 CAD. Aren't Canadian $'s worth less than US dollars? This is what makes no sense to me. Quote Link to comment Share on other sites More sharing options...
hensley Posted October 17, 2020 Author Report Share Posted October 17, 2020 Paypal = You send $2088.64 Recipient gets $2648.39 Conversion rate: 1 USD = 1.2679 CAD It just doesn't seem like there should be more CAD $'s than US $'s. 1 Quote Link to comment Share on other sites More sharing options...
lakeside7 Posted October 17, 2020 Report Share Posted October 17, 2020 Hensley just think if you had $10usd and requested say Pesos or CAD, the amount of "foreign" money you would receive a number greater than "10" Why are you saying ...I owe them XXXXX mexican pesos, Then you say I owe them XXXXX CAD???? Do you owe them Pesos or CAD? Regardless..... remember if this money is say coming out of say your Intercam account, then the ex rate will be different from checking the web page of say XE, that rate is usely the best rate for interchange between banks. If say your money is coming from a Bank of America account that could/will be different to what the Intercam rate is Quote Link to comment Share on other sites More sharing options...
mudgirl Posted October 17, 2020 Report Share Posted October 17, 2020 1 hour ago, hensley said: Ok so I send her $2088 usd out of my account and she gets more $2754 CAD. Aren't Canadian $'s worth less than US dollars? This is what makes no sense to me. It makes perfect sense. If she had to send you $2088 US, she'd have to deposit $2754 CAN. Quote Link to comment Share on other sites More sharing options...
hensley Posted October 17, 2020 Author Report Share Posted October 17, 2020 Ok thanks, didn't want to screw this up. I sold stuff for someone in Pesos, then I am paypalling out of my US bank account and they want it in CAD. That is why all the questions. Quote Link to comment Share on other sites More sharing options...
Natasha Posted October 17, 2020 Report Share Posted October 17, 2020 One thing you have to remember. EACH USD you use to pay her in CAD is worth MORE in CAD because the CAD is only worth .73 or.74 cents compared to $1 USD. So you send LESS dollars than the conversion from Pesos directly to Canadian, because your USD are worth more. Think of it this way: If you had to pay her directly from pesos to USD, you would pay +/- the $2,088. Period. And that's what you will be doing from your point of view. That she receives a higher "number" of dollars is only because it takes more CAD to equal your USD. SO nobody "loses" in this. 1 Quote Link to comment Share on other sites More sharing options...
hensley Posted October 17, 2020 Author Report Share Posted October 17, 2020 Thanks everyone, I got my answer. Quote Link to comment Share on other sites More sharing options...
mkshawn Posted October 18, 2020 Report Share Posted October 18, 2020 I have been using xe for yrs to transfer money converted to whatever peso's euro's to accounts all over: they remove the agreed money from my account at an agreed rate & transfer it any bank account in the world that has the standard international banking information (Swift numbers). Never a problem , repeats are extremely easy, money usually is deposited in 3/4 business days. Quote Link to comment Share on other sites More sharing options...
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