MAINTENANCE FUND VS EXCHANGE RATE

[vijaymaghnani]

I have completed all my requirement to get approval under Tier-1 General. now i am maintaining Fund for 3 months...

I am planning to apply after 3 months, now the only things which worrys me that after 3 months if exchange rate goes up then i will be lost...

Here in pakistan exchange rate of GBP has change from 132 to 142 in just 15 days. My money when i deposited was at 3000GBP now its counts at 2850GBP..Wht if rates goes above 150...

Is it better to open up a foriegn currency account and deposit 2800 in it and sit back relax, wait for 3 months...its done?

Please quide me IS THIS OK...? I have also come to know from this forum that they require last 15 months bank statement from which last 3 months should show over 2800GBP....?


All seniors and experience are requested to reply...Please


VIJAY KUMAR

[geriatrix]

i opened up an foriegn currency account and maintaining 2800 in that ...

As per your earlier post (as above), you claim to have opened foreign currency account (already). So, do not understand the basis of this query as to whether you should open a foreign currency account or not! Anyhow, banks in Pakistan should be able to advise you if a foreign currency account is immune to forex fluctuations or not. If it is, then you have nothing to worry about. But if it isn't, then what's the use? You'll have to prepare yourself for the worst 'coz no one on the forum can predict forex fluctuations for you.

It has already been suggested to you here and here that requirement to submit 15 month statement is a local BHC decision (and based on posts on the forum, seems to be applicable only in India as on date). You should check with your local VAC/BHC directly whether this is applicable in Pakistan or not.

regards