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We can also anticipate a shift in study plans for some students away from those now-more expensive destinations and toward more affordable choices, including Canada, Australia, other European destinations, or elsewhere. The Indian rupee has declined significantly against both the US dollar and British pound over the last three years.
It is broader, affecting a wider variety of emerging markets around the world, and, to this point at least, most currencies have not been affected as drastically as was the case in Asia in the late s.
Access and download statistics Corrections All material on this site has been provided by the respective publishers and authors. With the exception of the Nigerian naira, this decline is fairly substantial with an average decrease for the remaining currencies of It arises from the simple fact that if your home currency weakens against the currency of the study destination you have in mind, your study programme effectively becomes more expensive — you need more of your local currency to pay tuition and living costs in dollars or euros or pounds while abroad.
The economic pressure inhowever, is different. As we noted earlier, the Chinese yuan fell in value earlier this year. We might expect to see more prominent offers of financial aid by providers in both countries, and, in the case of more commoditised programmes, more aggressive price discounts or the introduction of new, specialised programme offerings.