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        GBP to INR Forecasts

        #Forecasts #GBP #INR

        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.

        Forecasts Updated: May 13, 2021
         
        1 GBP = 103.42 INR
        GBP to INR at 103.4 is just above its 90-day average, range 101.6-103.8.
        |
        4-DAY▲+1.6%1d
        90-DAY▲HIGH
        ⚇
         

        The Reserve Bank of India’s QE announcement sunk the Indian rupee as low as 105 to the pound sterling.

        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 Federal Reserve’s message to the markets that it was preparing to reduce bond purchases sent most USD/Asian and Emerging Market Currencies higher. INR Forecasts

        GBP/USD – closed the week at 1.4160 (1.4210 last week). The Fed’s hawkish shift hit the Pound hard, pushing it 1.6% lower in 2 days. GBP Forecasts

         

        What is a good GBP to INR exchange rate?

        Whether the pound will rise or drop in the future versus the rupee is a difficult question and the answer really depends on many factors. The best way to consider the current GBP-INR relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.

        GBP/INRChangePeriod
        23 Jul 2021
        →
        102.40
        		1% ▲1 Week
        30 Jun 2021
        →
        102.84
        		0.6% ▲30 Days
        01 May 2021
        →
        102.38
        		1% ▲90 Days
        30 Jul 2020
        →
        98.0839
        		5.4% ▲1 Year
        31 Jul 2016
        →
        88.1867
        		17.3% ▲5 Years
        02 Aug 2011
        →
        72.0753
        		43.5% ▲10 Years

        GBP/INR rate change to 30-Jul-2021 → 103.42

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