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The best time to buy INR depends on sociopolitical atmosphere, interest and inflation rates, foreign trade, public debt, and export to import price ratios.
The Indian economy is slowly growing, with developments in the technology sector earning the INR more value. However, the ongoing trade war between China and the US could hurt India, who trades a lot with China.
How does GBP trade against INR historically?
From 2002 through to 2008, the value of the pound fluctuated between roughly 75 and 85 rupees. During the financial crisis, the pound dropped heavily against the rupee, falling from 83.94 in October 2008 to 67.56 by January 2009.
As the UK economy slowed down after the crisis, its exchange rate dropped to 65 rupees in 2010 and held steady for about a year. However over the next five years the value of the pound rose against most major currencies, including the rupee. When Brexit was announced the British Pound weakened and hit a low of 81 rupees in May 2017. Since then the British Pound has recovered and now buys around 99 rupees.
GBP to INR exchange rate history
Based on historical data we can forecast the GBP to INR exchange rate. Here you can find the average exchange rate for the past week.
Average exchange rate over the past 6 months.
Average exchange rate over the past 5 years.
What affects GBP to INR exchange rate?
Strict government policies imposed by the Reserve Bank of India affects how frequently it’s traded on international markets. This gives the British pound, the fourth most traded currency, an advantage.
India’s Foreign Exchange Management Act places tight restrictions on outgoing rupee transfers, making it challenging for consumers to send money overseas from India.
The colonial history of Britain and India makes the pound and rupee a popular currency pair — with consistent fluctuation, with the pound dominating.
If you decide to use a money transfer service to change your GBP to INR, consider its fees, time it takes to transfer and its rate compared to the mid-market rate.
Frequently asked questions
Yes, you’ll need to report a transfer to India higher than $700 to the IRS and possibly the Indian government. Remittances to India are regulated by the Indian Income Tax Act.
A forward contract allows you to lock in an ideal exchange rate now and transfer the money later.
Yes, every money transfer company has restrictions as to where it can send your money. Commonly excluded countries include Iran, Iraq, Syria, Sierra Leone, North Korea and any countries the US has imposed sanctions on. Contact your provider to learn where it can’t send money.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
How do you know if your international money transfer made it safely? Learn how to track or cancel, and find out what your rights are when it comes to sending money.
From bank transfers to specialist money transfer companies, there are several options available when you need to transfer money overseas from your bank account.
If you need to transfer money overseas using your credit card, you can do so via your bank, MoneyGram, Western Union and PayPal. This can be useful in emergency situations, but credit card transfers are usually not a cost-effective option.
If you’re looking for a secure way to send money overseas, an international bank draft could be for you — but if speed is important, consider using a money transfer service instead.
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We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
