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.”