To make matters worse, rate of Sterling has skyrocketed in the past few months. The forex rate of Pak Rupee against UK Pound Sterling was around <b>1151</b> in the month of February. On 28/7/09 the rate was <b>1351</b>. Today, the rate is <b>141.51</b>. My expectation is that the rate would stabilize at this point.
Dont expect that the Sterling would come down to a bit more "sensible" ranges.
Sterling jumped to its highest level since mid-October against the dollar on Wednesday(5/Aug/09), buoyed by a raft of stronger-than-expected UK data which strgenghtened the view that UK economy is improving from a deep slowdown.
Unless the dollar does not strengthens against Sterling, Pak Rupee has no chances of improvements against the Sterling.
They do increase the exam fee each year , but this time the increase is of whopping £8 for the Professional level exams.
I just checked the exam fee of Professional exams from some previous issues of Student Accountant and they are as follows
Apr 08 £63
Sep 08 £65
May 09 £70
Today £78
The effects of the increase of £5 during the last session(after Sep08) were not felt by students in Pakistan because of an extremely favorable exchange rate during that period. Sterling fell from 146.3 in Oct08 to 115 in Feb09.
In terms of Pakistan Rupees, a Professional paper would roughly cost
Aug08 135*65= Rs 8,775
Feb09 115*70= Rs 8,050
Today 143*78= Rs11,154
So in terms of UK Pound Sterling, ACCA has increased the exam fee by approx <b>11%</b>. But in terms of Pak Rupees the increase is of <b>39%</b>!!!!!