Proof of funds Currency exchange rate

[deadbird]

I live in the US and my bank statements as well as official letter from the bank are all in USD. How do I show POF in CAD?

My current approach is to include a covering letter with the USD<->CAD conversion rate taken from http://www.xe.com/ . Do some math and show them that this is more than the amount needed. Is this sufficient? Any other approached that you guys might suggest?

 

[Stanlee]

I live in the US and my bank statements as well as official letter from the bank are all in USD. How do I show POF in CAD?

My current approach is to include a covering letter with the USD<->CAD conversion rate taken from http://www.xe.com/ . Do some math and show them that this is more than the amount needed. Is this sufficient? Any other approached that you guys might suggest?

In the letter, if your bank is OK in mentioning the CAD equivalent of the USD balance that you hold that would be good enough. They can take that day's exchange and mention CAD to USD value as on so and so date. Otherwise, an LOE as you mentioned should be good enough.

 

[deadbird]

Thanks @dan_and, @stanlee

 

[arcticbeans]

I included a screen print of The Bank of Canadas currency exchange rate on the day of submission in our LOE, their currency exchange is accepted by the Canadian revenue association so I figured it would be the most acceptable for CIC as it is accurate rates and not mid market rates as a lot of currency exchanges seem to show.

Sadly, the UK pound crashed even further after the EU referendum and I panicked and put our proof of funds into a Canadian dollar account, raised a CSE and submitted new documentation to CIC to show what we had done.

 

[aralizadegan]

Hi
I am applying for EE from Iran. Iran currency is not included in bank of Canada's exchange rates. I was wondering should I translated CAD requirement (e.g., $12,475 for one person) to my currency based on how the conversion factor that governments use with each other or the conversion factor (also in the bank statement) with which it is traded between people in the market in Iran?

For example when I get bank statement, it writes (1 CAD = 3000 IRR). Also Iran and Canada do trades in this currency. But if I want to go out and buy CAD for my IRR in the market in Iran, they trade it with (1 CAD = 4000 IRR)

Which one should I use? any additional suggestions I should do?