![]() ![]() Therefore, there is a likelihood that demand for the Indian rupee will be higher than the British pound in the coming months. For example, auto manufacturing in the country has plunged to its lowest point since the 1950s. The UK, on the other hand, is going through headwinds as energy costs soar and as investments drop after Brexit. Dollars to Pounds: Convert Indian Rupees to Pounds (INRGBP). Therefore, most analysts believe that the economy will continue expanding in the next few years. At the same time, many companies, including Apple, are moving to the country as tensions between the UK and China escalate. Unlike the UK, the country is importing vast amounts of natural gas and oil from India at a bargain. India is benefiting from numerous tailwinds. India, on the other hand, is doing well and is set to be the fastest-recovering economy in the world. Unlike the Reserve Bank of India (RBI), the BoE is between a rock and a hard place since the economy is staring at a recession. Therefore, the GBP/INR forex price dropped as investors wait for a more dovish tone by the Bank of England (BoE) in the near term. But if this trend in services inflation persists, then it would be a strong argument in favour of pausing in May.” GBP/INR outlook “We are therefore still penciling in a 25bp hike next month for the time being – and the Bank’s own Decision Maker Survey in early March is the next big data point to watch. As such, these numbers reinforce the case that the Bank of England (BoE) will start pivoting soon. Most importantly, services inflation, which has remained stubbornly high for months, has started falling. Today’s mid-market rate Live Rate £ 98. By Shirley Liu Updated Compare the mid-market rate and analyze its exchange history to get the best rates for GBP to INR. These numbers mean that the country’s inflation has peaked and that it is falling. Best GBP to INR exchange rates today Find the best exchange rates for your pound to rupee exchange. On an annual basis, the country’s headline and core inflation dropped to 10.1% and 5.8%, respectively. The numbers revealed that the country’s consumer inflation was heading in the right direction.Īccording to the ONS, the headline consumer inflation dropped to 0.6% on a month-on-month basis. The GBP to INR price declined sharply on Wednesday as traders reflected on the latest UK inflation numbers that I wrote about here. The GBP/INR price retreated to the psychological level of 100, which was a few pips below this week’s high of 101.24. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.įusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.The British pound pulled back against key developed and emerging market currencies after the relatively encouraging UK inflation data. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. ![]() ![]() The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Trading on margin increases the financial risks.īefore deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.įusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. ![]() Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. ![]()
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