Gift Deed Amount Has Droped On Exchange Rate

[rogadilkhan]

Hi Guys ,,

2 Months Later i Took A Gift Deed From My Father The amount was 107000 PKR Which was Eequal to 120700 $ and created an affidavit

However Due to the Exchange Rate Fluctuation Right now it is equal to 12030 $

So can some one guide me what should i do not

1 :: Make a new account and Transfer those found to that along with extra amount
2:: or add those fund back to my fathers account and transfer extra amount from that to one of my old accounts

3::: or i should add extras amount from my fathers account and make one more affidavit for it also

 

[rajanshah176]

Hi Guys ,,

2 Months Later i Took A Gift Deed From My Father The amount was 107000 PKR Which was Eequal to 120700 $ and created an affidavit

However Due to the Exchange Rate Fluctuation Right now it is equal to 12030 $

So can some one guide me what should i do not

1 :: Make a new account and Transfer those found to that along with extra amount
2:: or add those fund back to my fathers account and transfer extra amount from that to one of my old accounts

3::: or i should add extras amount from my fathers account and make one more affidavit for it also

I'd recommend you to attach a cover letter explaining the situation, they will consider it. Also try to add more funds and mention the same that you did.

 

[moonarch]

Hi Guys ,,

2 Months Later i Took A Gift Deed From My Father The amount was 107000 PKR Which was Eequal to 120700 $ and created an affidavit

However Due to the Exchange Rate Fluctuation Right now it is equal to 12030 $

So can some one guide me what should i do not

1 :: Make a new account and Transfer those found to that along with extra amount
2:: or add those fund back to my fathers account and transfer extra amount from that to one of my old accounts

3::: or i should add extras amount from my fathers account and make one more affidavit for it also

its highly recommended to add funds meet up to requirements...

 

[coolguy_dec]

you should add more funds so that if the exchange rate falls again you have sufficient funds

 

[rogadilkhan]

The point is that :: would i have to make another affidavit for the amount that i will be adding ?

 

[coolguy_dec]

its a transfer/ gift deed then yes

 

[shaheersinn]

I have the same issue. However, I had attached a letter with my Proof of funds mentioning the exchange rate while applying. Will it make any difference ? Or should I deposit more funds at once?

 

[shaheersinn]

@legalfalcon. Any insights ?

 

[legalfalcon]

Hi Guys ,,

2 Months Later i Took A Gift Deed From My Father The amount was 107000 PKR Which was Eequal to 120700 $ and created an affidavit

However Due to the Exchange Rate Fluctuation Right now it is equal to 12030 $

So can some one guide me what should i do not

1 :: Make a new account and Transfer those found to that along with extra amount
2:: or add those fund back to my fathers account and transfer extra amount from that to one of my old accounts

3::: or i should add extras amount from my fathers account and make one more affidavit for it also

The exchange rate is taken in the day when you file your application. If you have not yet file, you can do either of the following.

1. Get a new gift deed with the new amount. You do not need to transfer the money back and forth, in the gift deed itself just mention that the amount was transferred in two instalments.

2. Alternatively, you can get the additional amount and another gift deed specifically to meet the difference.

 

[shaheersinn]

The exchange rate is taken in the day when you file your application. If you have not yet file, you can do either of the following.

1. Get a new gift deed with the new amount. You do not need to transfer the money back and forth, in the gift deed itself just mention that the amount was transferred in two instalments.

2. Alternatively, you can get the additional amount and another gift deed specifically to meet the difference.

Thanks so much Manmeet.

 

[kearun]

The exchange rate is taken in the day when you file your application. If you have not yet file, you can do either of the following.

1. Get a new gift deed with the new amount. You do not need to transfer the money back and forth, in the gift deed itself just mention that the amount was transferred in two instalments.

2. Alternatively, you can get the additional amount and another gift deed specifically to meet the difference.

Hi Legalfalcon
I have asked many experts, but none couldn't answer my query.
Here is my query-
I have read that at the time of eligibility check,when calculating POF amount should be equal to or more than LICO mentioned on CIC website(conversion as per exchange rate in bank of Canada).My question is are they going to use the 'current Balance' figure mentioned in the bank letter for conversion(mine is a combination of savings 3% and FD 97% of total) or 6 month average figure mentioned in the bank letter?
Thanks in advance.

PS: On the day of my AOR, both Balance figure(as on letter issue date) and 6 month average figure are well above the required fund based on that day's exchange rate.

 

[kearun]

Hi Legalfalcon
I have asked many experts, but none couldn't answer my query.
Here is my query-
I have read that at the time of eligibility check,when calculating POF amount should be equal to or more than LICO mentioned on CIC website(conversion as per exchange rate in bank of Canada).My question is are they going to use the 'current Balance' figure mentioned in the bank letter for conversion(mine is a combination of savings 3% and FD 97% of total) or 6 month average figure mentioned in the bank letter?
Thanks in advance.

PS: On the day of my AOR, both Balance figure(as on letter issue date) and 6 month average figure are well above the required fund based on that day's exchange rate.

@legalfalcon -Request your response on this please?
Thanks