In fresh pounding, Rupee hits 100 against GBP

MUMBAI: The UK pound for the first time breached the 100 mark - making it the first currency to hit a century maintaining its edge over the greenback. 

Although there is hardly any foreign trade denominated in UK pound, the appreciation in the British currency affects Indian travelling to the country particularly students and tourists. The sharp rise in the cost of living in UK has already impacted plans of students who are now looking at other countries. Germany, France and Australia are showing an increase in the number of Indian students. Travel from India could also get hit following a decision by UK to go ahead with requiring "high risk" Indian travelers to provide a GBP 3000 Visa bond. 

According to data collated by non-life insurer ICICI Lombard General Insurance, the number of students travelling to UK for long-term education in FY13 has fallen by a third as compared to the previous year. Students travelling to the UK accounted for close to 15% of all overseas students in FY12. But in FY13 a little over 10.4% of students chose the UK as a destination for education.