The Pound to Rupee (GBP/INR) exchange rate ended July at 128.63 after a volatile month carried the pair above 130.80 before part of the advance was reversed. The Reserve Bank of India's policy decision now provides the week's main event risk for GBP/INR.
Current Setup and Live Chart The trading week is now in its second day, and the GBP/INR pair is currently trading 0.4% lower on the day. The pair lost its early gains as sentiment around the rupee has been boosted by the first update since the Reserve Bank of India introduced a range of measures to attract foreign inflows into the country.
The GBPINR forex pair rode high in May, but much of June saw it trending down. This drop hit bottom on Friday, June 19, when the pair sank to a two-month low.
The GBP/INR pair rose to 130 for the first time on Monday. We discuss why it has dropped from that level and what it says about the outlook.
GBP/INR may stay supported as UK inflation risks persists and higher oil prices keep pressure on the rupee.
GBP/INR outlook: Rupee weakness from oil shock drives upside, with 124 resistance key for further gains.
GBP/INR year-ahead forecast: Median, range and upside/downside risks based on projections from 20+ investment banks and FX analysts.View forecasts The Pound to Indian Rupee (GBP/INR) exchange rate is seen trading at around 122.6888, 0.5% higher on the Monday open. Latest — Exchange Rates:Pound to INR (GBP/INR): 122.7206.