EBay Adds More Foreign Currency

PayPal expanded its global reach Thursday, adding ten new currencies: the Czech Koruna, Danish Krone, Hong Kong Dollar, Hungarian Forint, New Zealand Dollar, Norwegian Krone, Polish Zloty, Singapore Dollar, Swedish Krona, and Swiss Franc. PayPal had already supported U.S. Dollars, Australian Dollars, Euros, Pounds Sterling, Canadian Dollars, Japanese Yen and Chinese RMB.

PayPal also announced that residents in 48 new markets can now use PayPal in their local markets to send money online. These new markets include Indonesia, the Philippines, Croatia, Fiji, Vietnam and Jordan. PayPal currently has 114 million accounts globally. In the second quarter of 2006, PayPal's total payment volume — or the total value of transactions — was $8.9 billion.