inr-symbol-forex-performanc - INR

GBP/INR is bearish on Monday, updating the lowest level of the month. Currently, one British pound buys 92.921 Indian rupees, down 0.36% as of 1:20 PM UTC. The last time when the pair traded below 93.000 was on May 29.

The sterling continues to deflate amid general pressure caused by the post-Brexit uncertainty and fears of a second wave of coronavirus infections. The pound cannot keep the pace even with an already weakening rupee.

Besides the broader context, investors focus on a series of gloomy reports released by the Bank of England. Earlier today, the central bank said that mortgage approvals dropped to the lowest level on record.

The number of mortgage approvals declined to 9,273, from 15,851 in April. Analysts polled by Reuters anticipated the figure to increase to 25,000 in May.

Bank of England data also revealed a net repayment of consumer credit of 4.6 billion pounds last month, as consumers chose to stay at home and spend less.

Meanwhile, the central bank noted a significant increase in the amount of money individuals and businesses hold in their bank accounts.

Lockdown Might Continue in Leicester

While the number of new coronavirus cases is decreasing in the UK, investors are worried about another spike as Leicester reports an increase in infections. The city’s mayor had received a letter from the government that requires him to keep bubs and restaurants in Leicester closed for two more weeks after the restrictions ease in the UK. Britain plans to reopen pubs and restaurants on July 4.

It means that Leicester faces a potential local lockdown. The city has reported 2,987 cases in total. A third of them were confirmed in the two weeks to June 23.

Sir Peter Soulsby himself doesn’t agree with such a move, saying that the analysis was “superficial and that “it does not provide us with the information we need if we are to remain restricted for two weeks longer than the rest of the country.”

As for India, the country continues to struggle with the catastrophic impact of the lockdown measures that are now gradually relaxed. On Friday, S&P Global Ratings said that the Indian economy was in deep trouble, as GDP is expected to contract by 5% this fiscal year. 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.