24% markup on exchange rate???

rbb

I made a booking for a hotel in Russia at the hotel's own website and asked for the quote to be in GBP, since that's the currency of my Payoneer Mastercard. I was quoted GBP33.45 for RUB2804.40 - that's the rate quoted on xe.com. The Mastercard rate converts to GBP33.75. When the charge came through on my card, it was GBP41.68 That's a huuuuuuuge markup of around 24%!!!! I understand that rates fluctuate on a daily basis, but how is such a markup possible? I see that on my Payoneer account, it shows "1.00 RUB = 0.01 GBP" but obviously there are several further decimal points required when the conversion is between these two currencies. Mastercard gives the rate as 1 RUB = 0.012035 GBP. It looks like Payoneer has used a rate of 0.01486235.....