Avoiding a Pitfall: PayPal Currency Conversion Options

These days I needed to buy some things, but I don’t have a foreign-currency credit card, so I could only use PayPal. I heard their exchange rate is a rip-off, so I looked it up, and yep, it is. I quickly changed my account settings.
I followed this post: PayPal 更换汇率结算方式 降低手续费

The exact steps have changed slightly:

• First, click Settings (gear icon) at the top-right of the home page, then click Payments on the second row, then Manage automatic payments
  

• Click Manage payment methods on the left
  

• Click Conversion Options next to your card
  

• By default PayPal uses the first option, their own conversion service, which skims a bit off you.
  Switch to the second option: Use the currency listed by the seller.
  Then click Submit.
  Do this for every card.
  

After changing it, PayPal bills no longer show an exchange rate, only the amount in the foreign currency.
(I checked an old bill: around 07/13 this year, the exchange rate was about 6.87, but PayPal charged 7.13. What a scam.)