Iranian students in Pune grapple with currency appreciation amid Middle East tensions

Amid escalating tensions between Israel and Iran, Iranian students residing in Pune are facing increased anxiety due to a significant appreciation in the value of the Iranian Rial. Over the past two to three days, the Rial has risen by almost 100 points, resulting in higher costs of living in major Indian cities for these students.

According to an Iranian student in Pune, the currency appreciation is a direct consequence of the ongoing conflict. She emphasized that Iran did not initiate the conflict but responded to protect its citizens. However, the resulting currency fluctuations have impacted students the most, affecting their ability to cover academic and daily living expenses.

Another Iranian student pursuing education in Pune, echoed similar sentiments, expressing concerns about the increased financial burden caused by the currency fluctuation.

The situation has sparked anxiety among the Iranian student community in Pune, with students bracing themselves for potential financial challenges in the days ahead. A higher education director and international relations researcher, highlighted the potential impacts of Iran’s actions on crude oil rates, supply chains, and currency appreciation, which could further exacerbate the situation for students.

India, which maintains strategic ties with both Iran and Israel, has urged de-escalation and a return to dialogue and diplomacy. New Delhi issued an advisory advising against travel to Iran or Israel and urging nationals in these countries to exercise caution for their safety.