: Falling rupee dents foreign education #IndiaNEWS #Business Hyderabad: The rupee plunged, yet again, this time by 37 paise, to close at an all-time low of 81. 90 against the US dollar on Wednesday.
Falling rupee dents foreign education #IndiaNEWS #Business
Hyderabad: The rupee plunged, yet again, this time by 37 paise, to close at an all-time low of 81. 90 against the US dollar on Wednesday. During the day, it had slipped below the 82-level for the first time. The falling rupee is spooking the financial plans of those wanting to pursue higher education abroad.
For instance, the average tuition fee for a masters programme in the United States of America (USA) is about ,000 and the living expenses account for about ,000 per annum. The programme, at the current Rs 81. 9 rupee-dollar value, will cost Indian students about Rs. 28. 6 lakh. For the same course fee and living expenses, they paid about Rs. 25. 5 lakh September last, when the rupee-dollar value was pegged at Rs. 73. In the year before that, when the dollar averaged Rs. 69, Indian students pursuing a course with similar fee structure paid Rs. 24. 1 lakh. The expenses have increased by Rs. 3. 1 lakh in just one year and by about Rs. 4. 5 lakh because of exchange rate volatility, making international education more expensive.
What will change?
Most students factor in the tuition fees, living expenses and travel tickets. However, depreciation of the rupee is not paid much heed. As a result of the difference in the exchange value, the studentp&H[[X[ ]Z[Y[ [ܙXH[ Yٜ HYY܈[Y][ۘ[[܈][H ][ XYH ]X]Y [YH[[ ]] Y[ [X H[ [X H YH XX]YHHX]H L [YZ[ HH [ SRZY YH KL [[X ZY][HX[KXYو Y[[[[X]ܘYY [Y X][ۈ[[H ]][ۜ[ YXY[]Yˈ'YZ[ YH]] XZۜY[ H]H YXو]K[ و Y[ ]YZ] [[ H܈ Z[[X [ H [ XY]ˈ
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