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Can you tell us where in the guidance notes that is? The general consensus among those I've talked to who have been approved is that the HO will use the rate on the day they are reviewing the app. But the guidance notes are pretty vague in what one should use to convert earnings to Sterling, here is all I can find (which does not say when the conversion should be done):kck9 wrote:Dear boyzzeal,
According to the guidance notes, you have to use the conversion rate which was on the day of last working day of your last payslip.
Thnx
Yes - and from what's probably my most reliable source. My solicitor told me that they will use the rate as of reviewing my app. However, I know several people included a printout from xe.com or oanda.com, showing a rationale behind the conversion they used...but even in those cases, I'm pretty sure people are using the rate on the day they are sending their app.hnbird wrote:apeterso--
I found out that it is supposed to be the conversion of the last payslip date from calling the hsmp team a few months back. also, it is mentioned in those internal caseworker guidance notes thats listed in one of the topics in this forum...
i hope this is still the case. have you heard otherwise?
hnbird
kck9 wrote:Dear apeterso925,
What you said might be right. But according to my previous experience i said they are using the coversion rate of last payslip date. Because, I have actually applied HSMP my self with old rules - before Nov-2006. During that time there was some internal guidance for case workers and I have seen the information regarding conversion rates in detail. I think it is the same guidance notes 'hnbird' is talking about. During that time even for my case I kept the conversion rate prior to my studies in UK and my application was successful.
Regarding the new criteria, I heard they are following the same rules and I have seen few posts in this forum suggesting the same. But I think it is very obvious to take the last payslips date into consideration.
Suppose a person who started his studies in 2003-2004 and till now he was a student, but before that if he use to work in India. FYI during that time the conversion rate was £1 = Rs.75-78, but now it is varying between Rs.80-85. It does make lot of difference and I have seen so many people applied like this and got through the application.
Hope this helps
Posted: Fri May 25, 2007 9:21 am Post subject:
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Ok thank you Deepak for the useful info...
So if my claim period is Apr 06 to Mar 07 (the Indian financial year)
the date of the last payslip will be 1st Mar 07 or the day I received my march payslip in April 07 (say 5th Apr)....
Could you please clear this doubt as well...
boyzzeal wrote:Dear kck9,
Yes you are correct. For peace of mind, I even called the customer care and could confirm the same. "date of the last payslip" In my case it would be 31 March. At that point of time it was 85.25520 and now it is 80.13. Sufficient for me to lose 5 points!!!!!!
Also, use OANDA's FXHistory tool to get the conversion rate right. Using this you will be able to say for sure what the conversion value would look like.
PS: this is not mentioned in the Guidance but is provided in the case worker's manual.
Regards,
Deeps