numbers-and-inr-currency-symbol - INR

GBP/INR has managed to recover yesterday losses. Currently, the pair is trading at 92.433, up 0.28% as of 6:00 AM UTC.

On Wednesday, the pound declined on weak inflation data released by the UK’s Office for National Statistics (ONS). Nevertheless, the British currency bounced back on positive housing market data while the rupee couldn’t rely on disappointing trade data for December.

Earlier today, the UK’s Royal Institution of Chartered Surveyors (RICS) said that agreed home sales increased for the first time since May last year. Expectations for future sales also surged. Thus, the British housing market revived after Prime Minister Boris Johnson’s major win last month, which brought in some optimism.

RICS Chief Economist Simon Rubinsohn commented:

“Whether the improvement in sentiment can be sustained remains to be seen given that there is so much work to be done over the course of this year in determining the nature of the eventual Brexit deal.”

Judging by larger timeframes, the British housing market, along with the economy in general, has weakened since the Brexit referendum in 2016. However, in December, the RICS house price balance surged to -2, from -11 in November.

The rupee has been under increased pressure after the Indian government said that exports declined 1.8% last month, to $27.36 billion, amid high volatility in the currency and commodity prices. In November, exports had decreased by 0.34%. Imports last month tumbled 8.83% to $38.61 billion.

Thus, the trade deficit narrowed down to $11.25 billion in December, from $12.12 billion the previous month, according to the Commerce and Industry Ministry.

Imports measure was dragged down by transport equipment, precious stones, gold, petroleum, and electronic goods.

Oil imports fell 0.83% to $10.69 billion in December, while gold imports dropped by 3.93% to $2.46 billion.

Non-oil non-gold imports, which shows the strength of demand at home, contracted by 12.2%. ICRA economist Aditi Nayar argues that the double-digit decline is a cause of concern.

The Indian economy has been struggling for months to revive its economy but without significant results. The central bank cut the interest rates several times last year, while the government launched massive stimulus measures. Despite everything, the GDP growth remains at six-year lows. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.