As soon as I heard that the Indian rupee slumped to a record low of 68.75 per dollar, my heart skipped a beat! 68.75? That’s not possible, I thought. In May 2013, it was 55 per dollar and in three months it has dropped by more than 13 rupees. And the thought of what it would be the next year hit me like a dagger through the heart.
I am one of the many aspiring to study in the U.S and with the rupee in a free fall, I think we are doomed. There are many students out there who are yet to register for the GRE, GMAT or TOEFL exams because they are waiting for the Indian Rupee to rise against the dollars. I was also waiting for the same to happen and after months and months of waiting I lost hope and registered for 64 per dollar.
The result, I lost some more money as the Rupee only fell more over the months and my exam is scheduled late so I would be sending in my applications to the U.S. universities only in the last moment. So to my friends out there who are hoping the same, please stop waiting and register for the exams immediately for it looks like the rupee is not going to rise in the near future. I’ve lost hope!
Also to be considered is the cost of applications for various universities, food and living expenses in the U.S. and on and on.
With all the other problems the Rupee depreciation has brought with it, it has also brought a fear among many students who are aspiring to study in the U.S. Many have started to recalibrate their decision to go abroad. “To go or not to go?” has now become the million -dollar question.
