Indian Rupee hits all-time low, student hopes crash
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Bengaluru: The Indian rupee has hit an all-time low of 58.39 per dollar; with Forex dealers being of the opinion that a persistent demand for the dollar from importers and banks due to a higher dollar in the international market affected the rupee’s value. The plummet in the value of the rupee also brings with it a brand new set of woes for Indian students planning to study abroad.
Expenses considered by international students usually include tuition fees, medical insurance, transport, and living expenses. Although the cost of living in different parts of the U.S. varies, they are now likely to have a tough time coping financially.
Dr. M.S. Thimmappa, former VC, B.U., asserts that the drop in the rupee’s value will affect all Indian students going abroad, even those with partial scholarships or grants. Speaking to Deccan Chronicle, he said, “Every student creates a budget of expenditures necessary during their stay in the United States as an international student; and this alarming drop against the dollar will upset all that. Students resorting to take an education loan will suffer the most; and even scholarship students will have to shell out extra money to make up for what is required.”
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