Swiss institute freezes Re exchange rate for Indian students

At a time when the rupee is passing through a rocky time in terms of its value against the US dollar, a Swiss hospitality management institute today said it was freezing the exchange rate for the Indian currency for students from the country seeking to join it at Rs 63 to a Swiss Franc.
"'Les Roches International School of Hotel Management' and 'Glion Institute of Higher Education', both Swiss Institutions which are ranked amongst the top hospitality institutes in the world, have decided to fix the exchange rate of the Indian rupee for Indian students for the January 2014 session and onwards," according to a release by the institution, Laureate Hospitality Education.

"With the recent fluctuations in its exchange rate, (it) was felt that it is in the best interest of potential students to provide a stable exchange rate for their tuition fees.
"The stable exchange rate is bound to provide a greater level of financial assurance regardless of exchange rate changes," it said.