Currency fluctuations and effect on proof of funds express entry

[masterfire]

Hello,
Iam AOR Oct 2022
Due to the high fluctuations and inflation rate in my home country,
Our family is 4 members. When I submitted my application, the POF was (600K in my home country currency = 38K CAD), after a few weeks in may be below 24K CAD (600K in my home country currency = 24K CAD)

My POF may not be enough after a few weeks.
1-What shall I do?
2-Can my parent add funds and i submit the new balance with gift deed to IRCC?
3-Can i withdraw them and exchange them to CAD and submit a new bank statement to IRCC?

 

[masterfire]

any recommendation?

 

[AndyUK]

I would suggest converting your funds to CAD or USD or other stable currency. Regardless of everything else - dropping from 38k to 24k CAD in a few weeks is a lot of lost money!

I'm pretty sure you can do either 2 or 3 and just send a webform. When your currency is so volatile, it's a perfectly sensible thing to do and I don't see how IRCC would have any issue with it.

 

[masterfire]

I would suggest converting your funds to CAD or USD or other stable currency. Regardless of everything else - dropping from 38k to 24k CAD in a few weeks is a lot of lost money!

I'm pretty sure you can do either 2 or 3 and just send a webform. When your currency is so volatile, it's a perfectly sensible thing to do and I don't see how IRCC would have any issue with it.

Thanks for your help,
After that, shall I issue a new POF and submit it to IRCC?

 

[AndyUK]

Yes.
From what an immigration lawyer told me, IRCC won't do a credit check or anything like that but they will check the most up to date exchange rate if your funds are in any currency other than CAD. So if your currency is losing value, it would then become an issue if IRCC won't know that in the meantime you converted it to CAD/USD and actually the amount is now fixed.
Hope this makes sense.