Today's GBP to INR Exchange Rate
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GBP to INR Exchange Rate: High-Low Ranges for 7, 30, and 90 Days
The table below outlines the expected upper and lower bounds of the GBP to INR exchange rate based on historical price data.
7 Days Range |
30 Days Range |
90 Days Range |
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Low | |||
Mid | |||
High |
Please note that no information on this page or website should be construed as investment advice, and the pricing shown are mid-market rates. For a live quote, please contact sales or log into your account.
What is Influencing the GBP to INR Exchange Rate Today?
The primary drivers of the GBP to INR exchange rate are interest rates and inflation. By comparing these two factors, you can gauge the possible direction in which a currency might trend over time. It is best to consider which country is more inflationary or deflationary relative to the other, let’s do this by looking at the latest key indicators:
Latest Key Economic Data for UK and India | |||
Inflation Rate | Interest Rate | Manufacturing PMI | |
UK | 1.7% | 4.75% | 49.9 |
India | 5.49% | 6.50% | 57.5 |
RBI's Monetary Policy and Inflation Update
On the 10th of October 2024, the Reserve Bank of India (RBI) kept its benchmark repo rate at 6.5% for the tenth consecutive meeting, as expected, while adopting a neutral stance that leaves room for potential rate cuts if growth slows further. This decision came after inflation rose slightly to 3.65% in August, mainly driven by food prices, though it remains below the RBI’s 4% target. The RBI retained its GDP growth forecast for FY 2024-25 at 7.2% and its inflation outlook at 4.5%, with slight adjustments across quarterly projections. Other key rates, such as the standing deposit facility (6.25%) and the marginal standing facility (6.75%), remain unchanged.
India’s inflation rate rose to 5.49% in September 2024, up from 3.65% in August and surpassing market expectations of 5%. This increase, driven largely by a surge in food prices (9.24%), marks the highest level this year, challenging prior expectations for near-term rate cuts. Vegetables saw especially high inflation (35.99%), while housing inflation edged up (2.78%) and fuel prices fell at a slower rate (-1.39%).
Bank of England's Monetary Policy and Inflation Update
On the 7th of November 2024, the Bank of England voted by a majority of 8-1 to reduce interest rates by 0.25 percentage points to 4.75%, responding to ongoing disinflation. One member preferred to maintain the rate at 5%. The Bank indicated that, despite the gradual reduction, monetary policy would remain restrictive until inflation risks are sustainably managed around the 2% target, with further adjustments considered as needed based on evolving inflation data.
On the 16th of October 2024, the UK’s annual inflation rate dropped to 1.7% in September, the lowest since April 2021, down from 2.2% in the previous two months. Major downward pressures came from transport (-2.2% vs 1.3%), notably airfares and motor fuels, with petrol prices at 136.8 pence per litre, down from 153.6 pence a year earlier. While housing, utilities, and furniture prices continued to ease, food inflation rose to 1.9% from 1.3%, indicating persistent pressures in essentials.
The Bank of England continues to monitor inflation closely, balancing rate cuts with the need to control inflation sustainably.
Key Statistics: GBP to INR Exchange Rate
- Average Positive Return: The average positive return per month for GBP to INR is 2.23%.
- Average Negative Return: The average negative return per month for GBP to INR is -1.84%.
- Average Return: The average return per month for GBP to INR is 0.37%.
- Standard Deviation: The standard deviation of monthly returns for GBP to INR is 2.94%.
- Monthly Performance: Out of the total months in our dataset, 54.26% are positive and 45.74% are negative.
- Probability-Adjusted Returns: The probability-adjusted monthly positive return is 1.21%, and the probability-adjusted monthly negative return is -0.84%.
How to Convert Pounds to Rupees with Rutland FX?
To convert pounds to INR and send money to India from the UK using Rutland FX, you’ll need to register for either a personal or a business account. After submitting your application, our onboarding team will review it, and they may request additional information about your transfer if necessary. Once your account is activated and enabled, you can proceed to convert sterling to INR at a competitive exchange rate and no payment fees.
What is the Minimum Transfer?
How Long Does It Take?
For initiating an international payment to India in INR, you’ll require the recipient’s account number, IFSC code, full name, and address.
What is an IFSC code?
What about Intermediary Fees?
Intermediary (correspondent bank ) fees are small charges deducted from a limited number of international payments before they reach the beneficiary. These fees are not imposed by Rutland FX, and the majority of payments processed through us will not incur intermediary fees. Payments to India via IMPS or NEFT do not incur intermediary fees, as they are local payment rails.
What If The GBP Does Not Arrive by The Settlement Date?
If you booked GBP to INR as a spot FX trade,it will have one of three value dates:
- “Tod” (Today): This means same day settlement and dispatch.
- “Tom” (Tomorrow): This indicates booking the currency for the next business day; settle the trade by or before the cut-off time on the following business day.
- “Spot” (Today+2 days): This represents the longest settlement window before the trade is considered a forward contract. Settle the trade by the cut-off time on the third day.
If an INR spot trade is not settled by the cut-off time of 15:30 on the settlement date, the back-office team will automatically close your trade, and you will have to re-book it when your funds are settled. This can cause a variation in the exchange rate and also costs associated with selling back the trade. It’s important that you settle the conversion by the specified settlement date and time to avoid delays or unnecessary costs.
Is Rutland FX FCA Regulated?
Rutland FX is a UK-based financial technology company (FinTech) that has assisted businesses and individuals in reducing the cost of cross-border payments and managing currency risk for over 7 years. The Rutland FX trading platform is powered by “Currencycloud,” a subsidiary of Visa. The Currency Cloud Limited is regulated and authorised by the Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI), under the firm reference number 900199. This authorisation level is equivalent to that of PayPal. You can verify this information by searching the firm reference number on the FCA website and checking the “Firm Status”.
How are My Funds and Account Protected?
As an Electronic Money Institution (EMI), Currencycloud is obligated to maintain adequate capital reserves and ensure the proper safeguarding of customer funds. When funds are posted to your account, e-money is issued in exchange for these funds by an EMI we work with, called Currencycloud. In line with regulatory requirements, Currencycloud safeguards your funds. This means the money behind the balance you see in your account is held at a reputable bank, such as Barclays, and is protected for you in the event of Currencycloud’s or our insolvency. Currencycloud stops safeguarding your funds once the money has been paid out of your account to your beneficiary’s account.
Under the Payment Services Regulations 2017 (PSRs) for payment instructions that are provided remotely or online, strong customer authentication must be applied. To log into your Rutland FX account, you will need to set up Two Factor Authentication (2FA). This will be done through our partner Authy or by receiving a text message to the phone number used when you originally registered. When you are making a payment to a new beneficiary, these details must be uploaded via the online portal or e-mailed into our operations team. The instructions MUST come from the e-mail account that you registered with or the beneficiary will not be uploaded.
How do I get started with Rutland FX?
To open an account with Rutland FX, you will need to register online. After submitting your application, our onboarding team will review it. If no further information is needed, your account will be enabled the same day. At this stage, your account manager will also contact you to address any final questions and guide you through the platform.
Still not sure?
If you are still unsure or have any further questions, please call us on 0203 026 0112 or request a callback below to discuss your requirements.