Analysis of recent sterling → rupee forecasts for 2024. We collate forecasts from respected FX analysts together with the latest British pound to Indian rupee performance and trends.
Forecasts for GBP to INR
Recent forecasts and currency market updates indicate a challenging outlook for the GBP to INR exchange rate, primarily driven by diverging monetary policies and geopolitical concerns. The British pound (GBP) has come under pressure as market sentiment begins to anticipate further interest rate cuts from the Bank of England (BoE), which may weaken the currency further. BoE Governor Andrew Bailey's upcoming speech will be crucial; should he maintain the dovish tone from recent policy meetings, it could amplify downward pressure on the pound. With GBP/USD known for its high volatility, any negative sentiment stemming from BoE's decisions might create ripples that impact its valuation against the Indian rupee (INR).
On the other hand, the INR recently faced turbulence, dropping to an all-time low against the U.S. dollar on concerns surrounding Donald Trump's impending second term as U.S. president. FX analysts caution Indian firms to be vigilant about foreign exchange risks as surging energy prices and fears of inflation exacerbate the rupee's instability. The market view suggests that the combination of anticipated U.S. policies and potential tariffs has introduced a phase of volatility across Asian currencies, including the INR. The GBP to INR exchange rate currently stands at 108.1, slightly above the three-month average of 107.1 and reflecting stable trading within a limited range of 105.1 to 109.2. Nonetheless, with significant external pressures at play, the outlook for GBP/INR remains precarious, warranting careful monitoring as both central banks navigate their respective economic landscapes.
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Will the British pound rise against the Indian rupee?
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Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more