Exchange Rate For Over sea earning

s_saini · Post by **s_saini** » Tue Apr 24, 2012 1:39 pm

I am on Tier1 (General) Visa and it is going to expire with in 2 Weeks.
I same late to UK. I worked overseas 5 months and currently I am working in UK from last 7 Months.

I understand I can't multiply overseas earning with 5.3 Multiplier.

1) Which Exchange Rate will be applicable on my overseas Earning?

Mind_The_Gap · Post by **Mind_The_Gap** » Tue Apr 24, 2012 2:10 pm

s_saini wrote:I am on Tier1 (General) Visa and it is going to expire with in 2 Weeks.
I same late to UK. I worked overseas 5 months and currently I am working in UK from last 7 Months.

I understand I can't multiply overseas earning with 5.3 Multiplier.

1) Which Exchange Rate will be applicable on my overseas Earning?

Hi S_Saini,

The exchange rate prevailing at the time of transfer will be applicable & the amount transferred in your UK account will be your actual earnings.

Rgds..

kingbobby57 · Post by **kingbobby57** » Tue Apr 24, 2012 2:13 pm

Same situtation here.
I am also applying with 2 months of overseas evarnings + 8 months of UK earnings.
For overseas earnings: If 20000 INR was GROSS salary, then check OANDA website and take the currency rate from INR to GBP on that date and then convert to GBP. There is no uplift ratio.

s_saini · Post by **s_saini** » Tue Apr 24, 2012 2:21 pm

Thanks for your quick reply.
Please Clarify one more point.

Do I need to consider Exchange Rate of Each Month, when the payment is made?

or

Exchange rate of last payment of that employment?

kingbobby57 · Post by **kingbobby57** » Tue Apr 24, 2012 2:23 pm

Each month on the date when the payment is received.

Other members can correct me if I am wrong.

mantasingh · Post by **mantasingh** » Tue Apr 24, 2012 2:23 pm

Last payment date's exchange rate should be considered.

kingbobby57 · Post by **kingbobby57** » Tue Apr 24, 2012 2:40 pm

well, i would do for each month.
Can you please share the link where UKBA has said this, it would help me as well as I am also applying with overseas earnings.

Mind_The_Gap · Post by **Mind_The_Gap** » Tue Apr 24, 2012 2:41 pm

mantasingh wrote:Last payment date's exchange rate should be considered.

Agreed.

Ref:
http://www.immigrationboards.com/viewto ... e426265d48

mantasingh · Post by **mantasingh** » Tue Apr 24, 2012 3:12 pm

Refer the below link
http://www.ukba.homeoffice.gov.uk/sitec ... idance.pdf

Page: 18 Column 2

Converting overseas earnings into pounds
sterling (£)
105. Earnings made overseas must be
converted into pounds sterling so that we can
assess them. The official exchange rate we
use is the one produced by OANDA.

106. An applicant should use the closing
exchange rate on the OANDA website at
www.oanda.com/currency/classic-converter
on the last day of the period for which he/she
has claimed earnings in that currency. This is
an independent website, for which we are not
responsible.

s_saini · Post by **s_saini** » Tue Apr 24, 2012 3:54 pm

Thanks a lot for your support.

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Exchange Rate For Over sea earning

Exchange Rate For Over sea earning

Re: Exchange Rate For Over sea earning