Fluctuating Currency Rates - Covid-19

[haiderijaz]

Hi,

I had submitted my application on 14th November. I had my last update on 24th March when the ADR status changed to not applicable. Before that, through last call I know that my eligibility was recommended pass, criminality was passed and security wasn't initiated. I raised a webform in the start of March and similar status was given after which I saw the ADR status change to NA. Now due to Covid-19 the currency situation in my country is pretty bad. Within a matter of days, the canadian dollar has risen from 109 PKR to 120 PKR. If this reaches 125.38 PKR, I will fall short of the amount that I had declared I had i.e. 12,900 CAD. The requirement back then was 12,699 CAD. My question is considering these circumstances, should I put in more money? If yes, what proof can I give for it? I am going to receive my salary and bonus as well in the next week. Should I transfer both to the account and then raise a webform that I have enough money? I will appreciate prompt responses.

 

[zabrodov]

My question is considering these circumstances, should I put in more money?

Yes. If the amount on your bank account falls lower than the required amount (when converted to CAD), your application might get rejected.

If yes, what proof can I give for it?

Deposit the funds, then get a statement from the bank and submit it along with an explanation letter via webform

 

[haiderijaz]

Yes. If the amount on your bank account falls lower than the required amount (when converted to CAD), your application will be rejected.


Deposit the funds, then get a statement from the bank and submit it along with an explanation letter via webform

The problem is I won't be able to go to the bank due to the lockdown in Pakistan and it's most probably affecting my branch here as well. Will I need to provide a proof of the transfer as well that is where the funds came from? Also, what amount will they consider then one I mentioned or the one that was required for settlement at the time of application?

 

[zabrodov]

Will I need to provide a proof of the transfer as well that is where the funds came from?

I would obtain a new bank statement and a confirmation of the transaction. You can explain where the funds came from in the explanation letter if you want

Also, what amount will they consider then one I mentioned or the one that was required for settlement at the time of application?

You never know when a case processing officer is going to look into your application and the information you provided. He/she will assess the amount on your bank account against the required amount and if at that point of time the amount your account falls below the minimum required, your application will be rejected.

Because you won't know when it's going to happen and because your currency has high volatility, I suggest you put as much as you can to avoid a similar scenario if your currency falls even lower than it is now.

 

[haiderijaz]

I would obtain a new bank statement and a confirmation of the transaction. You can explain where the funds came from in the explanation letter if you want


You never know when a case processing officer is going to look into your application and the information you provided. He/she will assess the amount on your bank account against the required amount and if at that point of time the amount your account falls below the minimum required, your application will be rejected.

Because you won't know when it's going to happen and because your currency has high volatility, I suggest you put as much as you can to avoid a similar scenario if your currency falls even lower than it is now.

Thank you so much for a detailed response. Please let me know if you have any idea what does Not Applicable for ADR for indicate?

 

[zabrodov]

Thank you so much for a detailed response. Please let me know if you have any idea what does Not Applicable for ADR for indicate?

You're welcome! "Not Applicable" means that they got your document. It's a good sign