When UKBA say exchange rate for savings of £62500 has to match the amount in £ if the savings are in foreign currency, on the date of the application...what does it mean? Is it the date I submit my spouse visa application online or when I hand in my file and do biometrics?
Under the Immigration Rules, in order to qualify for any family settlement visa (spouse, fiance, family dependent etc.), you must meet the financial requirements – by earning above the Income Threshold. You can do this by earning a minimum of £18,600 annually, or by having a minimum of £62,500 in cash savings (and you are allowed to combine your income with cash savings).
If you are using savings to meet the requirements, the full £62,500 must have been in the bank account for 6 months before applying for the visa (and then there is no income requirement).
So, that full amount must be in your bank account for six months, is there on the date you complete the online application, and continues to be there when you turn in your file and have your biometrics done, and is there when UKVI reviews and makes its determination.
Should the funds not be in GBP, on the day of your online application, check your savings account and verify that it equals £62,500, according to that day's exchange rate.