Rupee Exchange Rate News

The Pound New Zealand Dollar (GBP/NZD) exchange rate fell by -0.2% despite the Reserve Bank of New Zealand’s (RBNZ) hawkish bias this week by forecasting a possible rate hike next year. The pairing is currently trading around NZ$1.93. The New Zealand Dollar’s gains against the Pound – which shot up by 1% yesterday – proved to be short-lived as New Zealand-China trade relations continue to show signs of souring. New Zealand’s foreign minister Nanaia Mahuta warned about growing tensions between New Zealand and Beijing,...

The Pound Euro exchange rate fell by -0.2% today as the Indian variant of Covid-19 has weakened confidence in the UK’s ability to recover its economy in the months ahead. The pairing is currently fluctuating around €1.15. Sterling traders have become increasingly jittery over the prospect of a delay in the Government’s efforts to ease lockdown restrictions. The new strain of Covid-19 – the Indian variant – has raised concerns over increased levels of transmissibility of the virus. As a result, UK markets are becoming more...

The Pound Japanese Yen exchange rate fell by -0.2% today despite growing confidence in the UK economy after GDP data for March rose by 2.1%. The pairing is trading around ¥153.79 at the time of writing. Sterling benefited yesterday as the latest UK growth data highlighted that the nation’s economy had improved from the Government’s successful rollout of Covid-19 vaccines. However, the UK economy struggled in the first quarter of this year, falling by 1.5%. UK Chancellor Rishi Sunak was however confident about March’s...

Pound to Australian Dollar Exchange Rate Rallies on Higher Hopes for BoE Policy Tightening The Pound has been in high demand today, rising sharply against the Australian Dollar as well as the South African Rand and Indian Rupee. This GBP/AUD advance has been caused by rising optimism that a Bank of England (BoE) interest rate hike could come as early as spring this year. Such conclusions have been partly triggered by the IHS Markit estimate that inflation could pick up again in the coming months, based on data for manufacturing...

With US data proving mixed the US Dollar to Indian Rupee (USD/INR) exchange rate extended its downtrend on Thursday, driven lower by a decline in safe-haven demand. Diminishing Odds of Fed Rate Hike Weighed on US Dollar While members of the Federal Open Market Committee (FOMC) have continued to express a hawkish outlook on monetary policy in recent days markets have remained somewhat sceptical of the chances of a June rate hike. The odds of such a move were dented on Wednesday by weaker-than-expected US Services and Composite...

Minor Gains recorded in USD-INR Exchange Rate Today as US Results are Thin on the Ground At a time when the future of the US economy faces increasing uncertainty due to external pressures and the ever-elusive event of a Fed interest rate hike, the US Dollar has managed to achieve a small gain against the Indian Rupee (USD-INR), reaching an exchange rate of 64.8440. This has come despite a number of detrimental factors affecting the ‘Buck’. One example of such things has been India’s economic publications today; the Indian...

Rising ‘Greenback’ Fails to Dent Rupee’s Stability in INR-USD, RBI’s Rajan Talks Cause and Effect The Indian Rupee to US Dollar conversion rate has come out surprisingly well from the continuation of ‘Black Monday’ that hit the world’s stock markets for a third day running, although the road to a strong Rupee has seen a massive pothole along the way. The Rupee peaked slightly on Monday morning but soon nosedived from 0.0151 into a trough of 0.0149, the worst performance of the Rupee against the US Dollar since 2013. As...

The Pound Sterling to Indian Rupee (GBP/INR) exchange rate edged higher by around 0.31% during Monday’s European session. The British Pound rallied versus its major peers on Monday after the Bank of England (BoE) Credit Conditions Survey was published. The survey showed that there was a significant surge in mortgage applications in the second-quarter. In addition, there has been heightened demand for loans for both small and larger businesses. The improved credit conditions are the result of the combination of an ultra-low...

The Pound Sterling to Indian Rupee (GBP/INR) exchange rate strengthened by around 0.15% on Friday morning. The British Pound advanced versus many of its currency rivals on Friday in response to better-than-expected services growth. This, coupled with Thursday’s positive construction data, caused the Composite PMI to advance despite a drag from stunted manufacturing growth. The Markit/CIPS UK Services PMI was forecast to increase from 56.5 to 57.5 in June, but the actual results reached 58.5. The Markit/CIPS UK Composite PMI also...

The Pound Sterling to Indian Rupee (GBP/INR) exchange rate softened by around -0.31% on Friday afternoon. After British data produced reasonably positive results on Friday, the Pound strengthened versus many of its peers. A recent spate of better-than-expected ecostats has prompted rate hawks to speculate that the Bank of England (BoE) will increase the benchmark interest rate before the end of 2015. Chris Williamson, chief economist at financial data company Markit, said: ‘Some policymakers will therefore be getting increasingly...