Exchange rate

[sasif_2003]

I have calculated the exchange rate as 1 British Pound = 81.57096 Indian Rupee

Which one is correct there is one more format below :

1 Indian Rupee (INR) = 0.01226 British Pound (GBP)


Do I need to enter 0.01226 or 81.57096?

I have claucluated exchange rate as the last day of earnings claimed.The claim period was Aug-2008 to July 2009.

I have taken the exchange rate as on July 2009 and converted the total earnings into sterliing pounf eg: 700000/81 is this correct?




thanks

[tvn_ramesh]

You need to use the conversion rate based on this website

http://www.oanda.com/

please go through this/similar posts ..
http://www.immigrationboards.com/viewtopic.php?t=40820

[sasif_2003]

My query is for example 1 INR = 80.11 GBP and 1 Indian Rupee = 0.01238 British Pound.

I have calculated previous earning by applying 1 INR = 80.11 GBP

Which format is correct?

Do I need to convert Inda earnings by applying 0.01238 GBP as exchange rate or 80.11 GBP?

[sasif_2003]

I sbumitted form by filling the exchange rate in a reverse manner.

for eg :1 INR=80.2 GBP any chances for rejection?

[sasif_2003]

Hi,

Any one can you please clarify my doubt..

thanks

[cheshiregoan]

Say 1 GBP = 80.xx INR

[ChetanOjha]

I sbumitted form by filling the exchange rate in a reverse manner.

for eg :1 INR=80.2 GBP any chances for rejection?

Did you do the maths correctly? I think you should be fine if your maths is correct.
But never heard anything like that, so can't comment.

[sasif_2003]

I mean the total earings calculated exactly by using the formula
- total earnings/excahnge rate* 5.3 .

On Onda website two different figures are listed if you convert INR to GBP
and GBP to INR.

As per the OANDA rate for INR TO GBP -->1 INR =0.01239GBP

1 Indian Rupee = 0.01239 British Pound
1 British Pound (GBP) = 80.72800 Indian Rupee (INR)

The below figure is Tto convert GBP to INR taken from OANDA

1 British Pound = 81.00606 Indian Rupee
1 Indian Rupee (INR) = 0.01234 British Pound (GBP)

If you check the above there is a difference in pound value against ruppee 80.72800 and 81.00606.

Now while entering the earnings details on the assessment form there is a section as below

Source of Earnings -xxx company
Country of Earnings -India
Currency in which Earnings were paid -INR
Earnings Claimed (in original currency) -700000
Exchange Rate Applied -80
Earnings in pounds sterling-48000.xx[formula applied 700000/80*5.3]
Evidence of earnings provided-payslips etc..

Is that the correct entries?

Exhange rate applied is enteretd as 80, if we calculate in reverse manner by application exchange rate from INR to GBP[0.01234]then the total value differes by 30 to 40 pounds .

Please let me know the exchange rate applied is correct or wrong?

thanks

[sasif_2003]

any update on this ? please