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Exchange Rate for latest payment US $ - Indian Rupees

Payment to Indian publisher, Payment in INR

     
3:22 am on Dec 24, 2010 (gmt 0)

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Google Adsense has calculated payment to be made in Indian Rupees taking an exchange rate of 1 : 44.790. I really fails to understand how and from where this exchange rate is taken.

As per [x-rates.com...] US $ vs. INR from December 15th are given below:

2010-12-15 Wednesday, December 15 45.3323 INR
2010-12-16 Thursday, December 16 45.3822 INR
2010-12-17 Friday, December 17 45.3421 INR
2010-12-20 Monday, December 20 45.4202 INR
2010-12-21 Tuesday, December 21 45.23 INR
2010-12-22 Wednesday, December 22 45.0972 INR
2010-12-23 Thursday, December 23 45.1393 INR


Even as per Reserve Bank of India, the following rates are given on RBI site at [rbi.org.in...]

23/12/2010 45.0200
22/12/2010 45.1300
21/12/2010 45.2600
20/12/2010 45.3800
16/12/2010 45.3900
15/12/2010 45.3200

So, after 15th of December, the exchange rate never fall below 45 INR per US $.

So how come Google has sent us payment @ 44.79 INR per US $?
3:46 am on Dec 24, 2010 (gmt 0)

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The figures quoted are the spot rate, institutions exchanging currencies are always going to give you a lesser amount, typically depending on the size of the institution. Bigger banks can give you a better rate.

You're never going to get close to the spot rate when your income is converted between currencies. From experience, a 3-5% spread is usually a fair conversion.
3:47 am on Dec 24, 2010 (gmt 0)

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Although the conversion rates are minimal. But I am glad that someone is keeping track of the changes. I am reassuring myself that it is not INR 47.79... what can we do now? There better be an explanation, or a bonus gift(aich!) along with the next check.
6:30 am on Dec 26, 2010 (gmt 0)

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joined:Mar 24, 2006
posts: 58
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The figures quoted are the spot rate, institutions exchanging currencies are always going to give you a lesser amount, typically depending on the size of the institution. Bigger banks can give you a better rate.

You're never going to get close to the spot rate when your income is converted between currencies. From experience, a 3-5% spread is usually a fair conversion.


In the past, the exchange rate has been almost the same as spot rates / RBI rates quoted by me. I have never seen this type of difference.

Anyways, it does not make much difference :)
 

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