- FAQ
- Login
- Register
- Call Workpermit.com for a paid service +44 (0)344-991-9222
ESC
Welcome to immigrationboards.com!
Moderators: Casa, Amber, archigabe, batleykhan, ca.funke, ChetanOjha, EUsmileWEallsmile, JAJ, John, Obie, push, geriatrix, vinny, CR001, zimba, meself2, Administrator
Hi ,concept wrote:Hi Everyone,
The BHC says oen should use 'closing spot exchange rates on the end of earning period' for coversion. My date is may 31. But if enter may 31 it shows the 'exchange rate for period ending may 30'. Only if I select june 1, it shows the 'exchange rate for period ending may31'. Kindly suggets which date I should choose. This is critcal for my application since I will eleigible if I use the latter and not eligible if use the former.
thanks,
Vishnu
I think it should be June 1 you should select. Seniors please correct me if I am wrong..concept wrote:Hi Everyone,
The BHC says oen should use 'closing spot exchange rates on the end of earning period' for coversion. My date is may 31. But if enter may 31 it shows the 'exchange rate for period ending may 30'. Only if I select june 1, it shows the 'exchange rate for period ending may31'. Kindly suggets which date I should choose. This is critcal for my application since I will eleigible if I use the latter and not eligible if use the former.
thanks,
Vishnu
Krishna,krishna153 wrote:Hi, I can see oanda rate on 31st may is : 67.0228
URL: http://www.oanda.com/currency/converter/
reply me for any more specific queries u have.
Concept,concept wrote:chetanojha wrote:
Chetan,
That thread doesn't answer my question. I know that last day of earnings should be considered. But i am confused about whether the opening values on may31st(rates at end of may30) or closing rates on may31(the one you get when u select june 1). Kindly clarify my doubt
thanks,
concept
concept wrote:Yes chetan. that makes sense to em as well. But I am hanging on the balance here. Unless I am sure that it is the closing rates I cannot apply since the i would risk the 50K spent. So I am looking for some definitive reply here. Please help.
hmm..i think u r correct on this...but let the ones who have already applied comment on the post.concept wrote:thanks Aspirant. Excuse for being pushy. But my concern is that I have Indian rupees and I need to convert that to GBP. So if I sell one INR to buy GBP, I will get only 0.01467 GBPs. So it makes sense to use 0.01467 right? correct me if I am wrong.
The thing is that I cannot accept people getting their VISAs using the buy rate as a proof because I heard that the embassy uses its own claculations if wrong rates are used. I also rememeber that i somewhere read in official website that one should use the buy rates and not sell rates. So please clarify me. once agin sorry for being buggy.
thanks for all the help,
Concept
Thanks Pakhal. I would happily go with 0.01467 if I become eligible when I use that rate, but that is not the case here. I am eligible only if I use 0.01492 or the closing rate on 31st[one taht comes when you select june 1] that is 0.01485. So experts/moderators kindly give a definitive answer and close this.pakhal123 wrote:1. Logic wise, the conversion rate of INR to GBP means the rate at which you sell INR to buy GBP. And that rate should equal 0.01467.
2. For an experiment, if you use the other converter on the oanda site, it shows just one rate. We have confusions because the classic converter gives us 2 rates. If it gave us 1, we wouldn't be confused, right? So may be its a good idea to see which of these 2 rates match with the single rate returned by the modern converter, and use that rate. I think it will again be 0.01467
3. At times of confusion, it is probably wiser to use the conversion rate which is lower. Which is again 0.01467
So, in absence of any definitive information, i think 0.1467 is the rate to go with. Seniors can correct me if i'm wrong.
regards