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Which exchange rate to use?

Archived UK Tier 1 (General) points system forum. This route no longer exists.

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niw2
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Posts: 253
Joined: Fri Jun 15, 2007 11:41 am

Which exchange rate to use?

Post by niw2 » Wed Feb 27, 2008 9:28 pm

Hi folks,

I am a New Zealander who will be applying under the HSMP/Tier 1 scheme later this year.

I am aware that my past earnings need to be converted from New Zealand dollars (NZD) to British Pounds (GBP) using the exchange rate as at the date of my last payslip (15 February 2008). However, my searching has revealed several slightly different exchange rates for that day! So which exchange rate should I use?

Using the exchange rate from some websites, I can qualify for a higher HSMP band and get 5 extra points. My income is right on the cusp of two bands, you see.

Using the rate shown on Oanda.com (and some other sites), my income comes in a fraction below the higher band. Using XE.com (and some other sites), my income comes in a little above the higher band.

Can anyone advise me on this point? Which exchange rate should I use? Is there a website that the UK Immigration authorites will refer to?

Thanks in advance.

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