{"id":101594,"date":"2020-07-01T03:24:00","date_gmt":"2020-07-01T07:24:00","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=101594"},"modified":"2020-07-01T03:25:54","modified_gmt":"2020-07-01T07:25:54","slug":"103522-gbp-inr-loses-momentum-after-boost-from-johnsons-new-deal","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103522-gbp-inr-loses-momentum-after-boost-from-johnsons-new-deal\/","title":{"rendered":"GBP\/INR Loses Momentum After Boost from Johnson\u2019s \u201cNew Deal\u201d"},"content":{"rendered":"<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-inr-exchange-rate-today\/\">GBP\/INR<\/a> is in a bearish mood in early trading on Wednesday, but it managed to secure a 0.88% gain yesterday. Currently, one <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">British pound<\/a> buys 93.561 <a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian rupees<\/a>, down 0.11% as of 6:50 AM UTC. Yesterday, the pair started the session with a similar decline but then surged after UK Prime Minister Boris Johnson presented his \u201cnew deal\u201d to help the economy recover after the pandemic.<\/p>\n<p>On Tuesday, the British PM set out his recovery plan in a speech in Dudley, in the West Midlands. Johnson pledged to spend 5 billion pounds to invest in infrastructure and building homes. The plans previously stipulated in the Tory election manifesto would be intensified, he said.<\/p>\n<p>On the other side, Labour leaders argued that the PM wasn\u2019t paying enough attention to saving jobs.<\/p>\n<p>Finance Minister Rishi Sunak announced later during the day that he would come up with an economic update next week to set out \u201cthe next stage in our plan to secure the recovery.\u201d<\/p>\n<p>Johnson\u2019s \u201cnew deal\u201d comes amid the worst recession in centuries, as Britain was hit by the coronavirus pandemic. The PM pledged to \u201cbuild, build, build\u201d in an effort to speed up recovery. He <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-britain-johnson\/uk-pm-johnsons-answer-to-covid-19-downturn-build-build-build-idUSKBN240305\">said<\/a>:<\/p>\n<p>\u201c<em>We cannot continue simply to be prisoners of the crisis. We must work fast because we\u2019ve already seen the vertiginous drop in GDP and we know that people are worried now about their jobs and their businesses.\u201d<\/em><\/p>\n<p>The 5 billion pound investment plan comprises the following projects:<\/p>\n<ul>\n<li>5 billion pounds for hospital building and maintenance.<\/li>\n<li>100 million pounds for about 30 road projects.<\/li>\n<li>More than 1 billion pounds for building schools.<\/li>\n<li>12 billion pounds to build 180,000 new homes in the next eight years \u2013 this project combines three pots of money that have been already announced by Johnson\u2019s administration.<\/li>\n<\/ul>\n<h2>GBP\/INR Loses Momentum<\/h2>\n<p>Investors reacted positively on the news. Yet, the GBP\/INR lost momentum as some commentators suggested that there was nothing new in the \u201cnew deal.\u201d<\/p>\n<p>Meanwhile, UK house prices declined in annual terms for the first time in eight years in June. Mortgage lender Nationwide said earlier today that its house prices index dropped by 0.1% compared to June 2019 and fell 1.4% from May. Analysts polled by Reuters expected an annual increase of 1% and a monthly decline of 0.7%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/INR is in a bearish mood in early trading on Wednesday, but it managed to secure a 0.88% gain yesterday. Currently, one British pound buys 93.561 Indian rupees, down 0.11% as of 6:50 AM UTC. Yesterday, the pair started the session with a similar decline but then surged after UK Prime Minister Boris Johnson presented [&hellip;]<\/p>\n","protected":false},"author":163946609,"featured_media":96185,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[1396,1394,1861,1666],"class_list":{"0":"post-101594","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-inr","9":"tag-boris-johnson","10":"tag-gbp","11":"tag-gbp-inr","12":"tag-inr"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/INR Loses Momentum After Boost from Johnson\u2019s \u201cNew Deal\u201d - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103522-gbp-inr-loses-momentum-after-boost-from-johnsons-new-deal\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anatol Antonovici\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103522-gbp-inr-loses-momentum-after-boost-from-johnsons-new-deal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103522-gbp-inr-loses-momentum-after-boost-from-johnsons-new-deal\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c9c031720b5822c1d9bb63b59c6535ce\"},\"headline\":\"GBP\\\/INR Loses Momentum After Boost from Johnson\u2019s \u201cNew Deal\u201d\",\"datePublished\":\"2020-07-01T07:24:00+00:00\",\"dateModified\":\"2020-07-01T07:25:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103522-gbp-inr-loses-momentum-after-boost-from-johnsons-new-deal\\\/\"},\"wordCount\":380,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103522-gbp-inr-loses-momentum-after-boost-from-johnsons-new-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/Boris-Johnson.jpg\",\"keywords\":[\"boris johnson\",\"gbp\",\"gbp\\\/inr\",\"inr\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103522-gbp-inr-loses-momentum-after-boost-from-johnsons-new-deal\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103522-gbp-inr-loses-momentum-after-boost-from-johnsons-new-deal\\\/\",\"name\":\"GBP\\\/INR Loses Momentum After Boost from Johnson\u2019s \u201cNew Deal\u201d - 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