For at least 3 days now, the currency exchange rate used by Paypal to convert American money to CAD dollars has been stuck to 1.20588. All through the recent Canadian dollar plunge, the rate has not changed. Locking an exchange rate like so is fraud. The problem has been reported to Paypal. As a result, their rate is still locked, as of now, 9h27pm, Easter time, Friday.
The actual average currency exchange rate is now 1.271 — see the screen capture below. That rate is the medium rate between selling and buying rates. The difference between that average rate and Paypal's rate should be 2.5%. It's part of Paypal's policy, they keep that, and that's cool. Their rate is usually updated at least twice a day. At least. The difference now is 7% — instead of 2.5%. The dollar was even weaker yesterday. This is really helping American sellers who are cashing in money made from selling to Canadians — and totally screwing Canadian sellers in the process, those who are depositing money made from selling to their American neighbors. It's more than unfair, it's fraud.
I certainly hope there will be a class action suit.