UPDATE
The Pound Sterling to Indian Rupee (GBP/INR) exchange rate softened by around -0.2% on Tuesday morning.
With traders expecting British finances data to produce disappointing results, and with crude oil prices slowly falling, the Pound Sterling to Indian Rupee (GBP/INR) exchange rate is likley to hold losses for the remainder of Tuesday’s European session.
The Pound Sterling to Indian Rupee (GBP/INR) exchange rate is currently trending in the region of 101.5800.
Yesterday…
GBP/INR Exchange Rate Predicted to Edge Lower despite Positive BoE Predictions from UniCredit SpA
The Pound Sterling to Indian Rupee (GBP/INR) exchange rate declined by around -0.5% on Monday afternoon.
The Pound Sterling strengthened versus the majority of its most traded currency rivals in the early stages of Monday’s European session. The appreciation can be linked to Italian lender UniCredit predicting that the Bank of England (BoE) will look to hike the cash rate in the first quarter of 2016 no matter what the Federal Reserve chooses to do. UniCredit also predicts that the Pound will advance by around 6% against the US Dollar by Q1 2016.
Sterling gains have been somewhat limited, however, given that not all analysts agree with the Italian lender. ‘Monetary policy itself isn’t everything,’ stated Hamish Pepper, a foreign-exchange strategist at Barclays Plc. ‘The UK will be firstly lagging the US in terms of growth, inflation and ultimately monetary policy. But on top of all of that it will be facing this substantial tightening of fiscal policy at a time when there’s uncertainty about whether the UK will remain part of the EU.’
The Pound Sterling to Indian Rupee (GBP/INR) exchange rate is currently trending in the region of 101.7700.
INR/GBP Conversion rate Predicted to Tick Higher as Investors Believe India will become a $4 Trillion Economy
Despite the fact that crude oil prices are rising slowly, the Indian Rupee gained versus many of its peers as a new week of trading began. Ordinarily, higher oil prices would weigh on demand for the Indian asset given that India is the world’s foremost importer of black gold. With an absence of domestic data to provoke changes, the Rupee is likely to continue trending higher versus many of its currency rivals.
Some analysts are convinced that India’s economy will gather momentum and reach $4-5 trillion in 8 years. India’s economy currently stands at around $2 trillion. ‘We are passionate India bulls and we speak by heart. We genuinely, genuinely believe that India is going to be a $4 trillion economy in the next seven-eight years and there is going to be big returns (from equities),’ says Sunil Singhania, CIO Equity, Reliance MF, in an interview with ET Now. ‘India is doing relatively better than a lot of other countries and finally it has reached a size where the world cannot ignore India. So, in that way, India definitely stands out,’ he added.
The Pound Sterling to Indian Rupee (GBP/INR) exchange rate has fallen to a low of 101.6800 during Monday’s European session.
Pound Sterling to Indian Rupee (GBP/INR) Exchange Rate Forecast to Hold Losses ahead of UK Finance Data
Given the absence of further domestic data publications to provoke changes and providing oil prices don’t appreciate significantly, the Pound Sterling to Indian Rupee (GBP/INR) exchange rate is likely to hold losses for the remainder of Monday’s European session.
Thursday’s European session is likely to see GBP/INR volatility with British finances data due for publication. A complete absence of Indian data once again could see trade dictated by oil prices and market sentiment.
The Pound Sterling to Indian Rupee (GBP/INR) exchange rate climbed to a high of 102.4800 during Monday’s European session.
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