maintenance funds - exchange rate volatility

Hello.
In case if I open bank account not in GBP but in any other currency converted to pounds the exact amount of the necessary maintenance funds.
How exchange rate fluctuations affect the necessity to maintain the certain amount of pounds during the requested period?

Thank you.

nazimus wrote:Hello.
In case if I open bank account not in GBP but in any other currency converted to pounds the exact amount of the necessary maintenance funds.
How exchange rate fluctuations affect the necessity to maintain the certain amount of pounds during the requested period?

Thank you.

It does affect in that the exchange rate as quoted on the OANDA website is used on the conversion date. "The exchange rate of overseas currency will be made using the OANDA rate conversion on the date of application. www.oanda.com"

So keep a reasonable buffer.

push wrote:So keep a reasonable buffer.

Hmmm.
Then, it is said that the amount in pounds shouldn't fell below the limit during minimum 90 days.
If we suppose that on the first day local currency converted to pounds was exactly what requested (based on oanda ex. rate) and at the day of closure (taking bank letter) it was also exactly what needed.
What about falling below the limit between those 2 dates because of currency ex rate flow?
All i am trying to say, what date currency rate is taken as a basement for conversion? initial when the account was opened? closed? or date of application?

Thank you.

Date of application is the base.

One of the threads discusses with references from guidance

http://immigrationboards.com/viewtopic.php?t=61633

Shepherd

gd_Shepherd wrote:Date of application is the base.

One of the threads discusses with references from guidance

http://immigrationboards.com/viewtopic.php?t=61633

Shepherd

thank you.

gd_Shepherd wrote:Date of application is the base.

One of the threads discusses with references from guidance

http://immigrationboards.com/viewtopic.php?t=61633

Shepherd

Yes but based on the rate as on date of application the funds on any of the dates in the last three months should not be less than the minimum stipulated.