numbers-and-inr-currency-symbol - INR

GBP/INR continues to decline on Thursday, after losing 0.22% on Wednesday. Currently, one British pound buys 92.362 Indian rupees, down 0.11% as of 6:55. Earlier this morning the price touched a daily low at 92.102. The last two bearish sessions show that the pair hasn’t managed to reverse the longer-term downtrend that started on April 15. The next support level is at about 91.600, which is the lowest since March 27.

The pound is slipping amid increasing tensions over the Brexit negotiations and as the Bank of England (BoE) is thinking about potential negative interest rates for the first time ever.

The UK said yesterday that there was no need for new customs infrastructure in Northern Ireland. However, it was ready to implement checks on some goods traded from the mainland to the province.

Britain left the European bloc on January 31 but it still has to negotiate a trade deal by the end of this year. Northern Ireland, which is part of the UK but also has a land border with the EU member Ireland, was the cause of debates for years. The EU wanted a strict border while Britain said there was no need for that. Eventually, UK Prime Minister Boris Johnson agreed to a so-called protocol. The latter requires strict customs checks and tariffs on some goods coming from the mainland in the case they are planned for the EU members. But now the UK wants to skip most of that.

Irish Foreign Minister Simon Coveney said that Britain’s proposal to ignore a new customs infrastructure will be met with skepticism by EU leaders.

BoE Doesn’t Rule Out Slashing Rates Below Zero

Meanwhile, the pound has also reacted to the BoE’s comments that negative interest rates might be on the horizon. BoE Governor Andrew Bailey said he was now less opposed to negative rates than before the pandemic. However, he admitted that there was a debate among policymakers about the long-term risks.

Bailey told parliament on Wednesday:

“(We’re) looking very carefully at the experiences of those other central banks that have used negative rates, and a number of them are actually publishing quite interesting assessments at the moment. There are some pretty mixed reviews of it, I have to say.” 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.