Students going abroad worry as Rupee falls

The continuous fall in rupee value which reached an all time low last week has become a matter to worry about for the students planning to study in the U.S.A. and their parents who have to spend more than they expected initially.

Why it costs more?

As the Rupee falls against the Dollar those students who study in US will have to pay more than what they previously thought. It happens in case when they have to buy dollars in exchange of rupees. If, for example, initially, one was buying a unit of dollar by spending a few units of rupee, after depreciation of rupee one has to shell out more units to buy a unit of dollar which makes it expensive.

At present, compared to last year, parents have to spend Rs. 7 to Rs. 8 more per dollar. It means those paying a fee of Rs. 5 lakh initially in an average university have to shell out Rs. 60,000 more apart from other expenses.

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Categories: Banking Current Affairs 2018International Current Affairs 2018

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