While worries over Brexit consequences remain in many quarters, one major beneficiary of the development could be Indian students the United Kingdom or those who are planning to travel there for higher studies.
While worries over Brexit consequences remain in many quarters, one major beneficiary of the development could be Indian students the United Kingdom or those who are planning to travel there for higher studies.
The sharp plunge of over 9 per cent in the British Pound will make remittances cheaper for financing Indian students. “The fall in the Pound is good news for the student community in UK since it would be favourable for sending remittances,” Sudarshan Motwani, Founder and CEO of BookMyForex told FeMoney.
British Pound plunged against Indian rupee by over 8 per cent to Rs 91.36 intra-day as news filtered in that UK has voted in favour of Brexit.
Motwani said that the Pound to rupee should remain in the 91-94 region. “It is difficult to predict the rupee-pound movement. But my feeling is that it will remain in the 91-94 range,” Motwani said.
Indian student community is one of the largest overseas student group in the UK, which has been one of the favoured destination of higher studies and constitutes nearly 4 per cent of all internation students.
However, high cost of education and visa norms that restricted post-study work has resulted in a drop in flow of students from India to the United Kingdom of late.
Source : The Financial Express
