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Pound fell, hopes raised

Good news for those Indian students who want to pursue their studies in the universities of UK

Policy Pulse
Publish Date: Jun 25 2016 12:47PM | Updated Date: Jun 25 2016 12:47PM

Pound fell, hopes raised
Photo: Kings College London
As UK voted to be out of the European Union yesterday, a lot of fluctuations happened with the value of pound. Pound fell to its lowest in thirty two years. While on one hand it brought a bad news such as no more serving as a gateway to Europe, on the other hand, it brought good news as well for those Indian students who want to pursue their studies in the prestigious universities of the United Kingdom. 
In previous years, there was a growth in the number of the Indian students was merely 0.25 percent, its counterparts such as New Zealand saw a growth of 12 percent and US saw the growth of 10 percent.  It was because, the British government brought in a policy denying the Indian students post-study work visas, also, the fees were not affordable for majority of Indian students. 
According to ‘The Times of India’, M Hariprasad, head of treasury at Centrum Direct said that the demand for foreign currency was more from students going to Australia and other English speaking countries.
Also, Ajay Bohora, MD and CEO of Credila Financial Services said that the depreciating pound sterling means lower fees for Indians and parents who pay by converting the rupee to pound for higher education in the UK. 
The students did not lag behind in terms of giving their opinion as Avit Mehta, a Delhi boy waiting to join the University of Manchester for an undergraduate course in aeronautical sciences, said Brexit had left him concerned about how a foreign student would be treated.
Also, Aman Parekh, headed for the same university, said students would face a climate of uncertainty.
But one thing is certain that the fall in pound will encourage many Indian students to pursue their studies in UK universities.