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.
Economic data will have less bearing on the GBP while Brexit uncertainty lingers. Negotiations have come down to the wire, with just days remaining to reach an agreement in time for new laws to go through UK and EU Parliaments There is now additional pressure, the US president-elect Biden has indicated he will not support a US trade deal if the UK proceeds with proposed legislation that breaches international law. The pound will be vulnerable should the deal fall through, as trade between the UK and EU countries would revert to World Trade Organisation terms which would have a detrimental impact on trade and the economy. November Update
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 Indian rupee was Asia’s worse performing currency in 2020, but compared to previous crises has performed relatively well.
Get more details in the article Indian Rupee Forecasts.
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.
You can read about other INR exchange rate forecasts here INR Dollar Trends and Forecasts for 2020.
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.
12 Jan 2021
|0.2% ▼||1 Week|
20 Dec 2020
|1.1% ▲||30 Days|
21 Oct 2020
|3.1% ▲||90 Days|
20 Jan 2020
|8% ▲||1 Year|
21 Jan 2016
|3.4% ▲||5 Years|
22 Jan 2011
|36.9% ▲||10 Years|
GBP/INR 10 year historic rates & change to 19-Jan-2021 : 99.7599