Earnings Exchange Rate help needed. URGENT

tier1gnrl · Post by **tier1gnrl** » Sun Mar 27, 2011 7:23 am

Hi,

I received my last payment on 19th March and want to claim my Indian Earnings for the claimed period.

Want to check what will be my conversion rate?

If my total income is 5,00,000 INR and last date of payment receipt in bank statement is 19th March will I need to convert with the numbers available for the same date on Oanda Website? And how would I convert and use an uplift ratio for the aforesaid Income? Please help?

thebionicredneck2003 · Post by **thebionicredneck2003** » Sun Mar 27, 2011 12:33 pm

You would use the conversion rate on that day, which in your case is 19th March.

You can only apply uplift ratio if yuou were physically in India when you did the work.

If you were in the U.K you cannot apply uplift ratio.

tier1gnrl · Post by **tier1gnrl** » Sun Mar 27, 2011 1:34 pm

Hey Thanks for your reply.

Now for 19th March when I convert 1 INR to Pound

this is what it says!

Selling 1.00000 INR you get 0.01347 GBP
Buying 1.00000 INR you pay 0.01352 GBP

I am still in India.. Travelling to UK tomorrow and will apply for the visa straight away as I have all the documents ready.

For INR 5,00,000 what will be the conversion rate?

I am not being dumb.. But I dont know if its 0.01347 or 0.01352. Or is it any other figure. Please assist. Thanks

thebionicredneck2003 · Post by **thebionicredneck2003** » Sun Mar 27, 2011 1:44 pm

I understand, the Oanda page is a bit funny.

Try this link
http://www.oanda.com/currency/classic-converter

That link will give you exactly what you want.
With the conversions you showed, I can still work it out to give you exactly the same amount on the link I gave you.

Let me know if you require any more help.

In addition, I have read on some other posts that you may need to include a letter from your employer that states that you were actually in India when the job was done so that UKBA actually applies the uplift ratio.

I don't know for sure, but probably a letter like this can greatly help your application and clear any ambiguity.

tier1gnrl · Post by **tier1gnrl** » Sun Mar 27, 2011 1:49 pm

I have my passport stamped from the immigration guys in India when I entered India, would that not be sufficient? I am here in India since 6 Months and working here and just going back tomorrow?

My exact figures in INR is 5,08,000/-

thebionicredneck2003 · Post by **thebionicredneck2003** » Sun Mar 27, 2011 1:56 pm

For 508,000 INR, you get 6,844.13GBP on the Oanda currency converter on 19th March.

To be honest, what is in your passport should be enough, but I just read some posts were people said something about getting an extra letter to confirm you were physically present.

In your case, just include a cover letter stating that you have been in Inida for 6 months prior to making your application and you should be fine.

Any moderator can also kindly advise if they feel you will require something more

tier1gnrl · Post by **tier1gnrl** » Sun Mar 27, 2011 2:01 pm

Hey you are so kind. Babaji bless you man.. Thanks indeed.

Dear Sir/Madam,

I am mentioning in my cover letter:

thebionicredneck2003 · Post by **thebionicredneck2003** » Sun Mar 27, 2011 2:18 pm

I am no expert on Cover letters, but the information you have inlcuded looks perfectly fine to me.

I wish you good luck with your application and hope everything works out well for you.

tier1gnrl · Post by **tier1gnrl** » Sun Mar 27, 2011 2:43 pm

Hey Thank you very much

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Earnings Exchange Rate help needed. URGENT

Earnings Exchange Rate help needed. URGENT