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    GBP to INR Forecasts

    GBP/INR forecasts change all the time, affected by news events and relative sentiment towards the UK and Indian economies and this exchange rate is even more volatile than usual because of the uncertainties around the Coranavirus pandemic.

    Updated: Oct 09, 2021  

    1 GBP = 103.29 INR
    Sell GBP  →  Buy INR
    GBP to INR at 103.3 has risen 1.3% above its 90-day average, range 99.75-103.7.

    GBP/Rupee Outlook

    In September the European energy crisis pushed the Pound down against the Rupee. At the end of the month the GBP/INR exchange rate hit a low below the 100 mark but has recovered into October after Boris called the army out to drive the fuel trucks.

    GBP/INR wasChangePeriod
    04 Oct 2021
    1.8% 2 Weeks
    20 Jul 2021
    1.7% 90 Days
    18 Oct 2020
    8.8% 1 Year
    19 Oct 2016
    26.1% 5 Years
    21 Oct 2011
    29.9% 10 Years
    23 Oct 2001
    51.1% 20 Years
    GBP/INR change over periods to 18-Oct-2021


    Unlike Latin American countries, which continue to benefit from a U.S. recovery, Asian countries are vulnerable to economic austerity in Saudi Arabia and elsewhere in the Middle East due to the drop in demand for Oil during the Covid pandemic. More than 60% of remittances to India, Bangladesh and Pakistan come from Gulf countries.

    The foreign exchange market convention for GBP/INR is to quote Indian Rupee as Rupee per US dollar. Thus a higher GBP/INR rate actually means one rupee is worth less, that is you can buy more rupee for 1 GBP.

    The Indian rupee has dropped to its lowest level against a range of currencies since April as the Reserve Bank of India kept its monetary policy unchanged.

    Most Asian currencies have weakened against the dollar on fears that surging energy prices could spur inflation and interest rate hikes.

    India imports most of its oil requirements and higher crude prices tend to push up domestic inflation.

    INR Outlook

    The outlook for the pound for October is very uncertain due to rising inflation, slowing growth and unemployment, the combination of which could create a nightmare scenario for the Bank of England Monetary Policy Committee.

    OFX predict the GBP could range between 1.33 – 1.38 USD and against the euro between 1.14 – 1.18 EUR.

    GBP Outlook


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    Posted under: #Forecasts #GBP #INR

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.