{"id":102889,"date":"2020-08-06T03:18:30","date_gmt":"2020-08-06T07:18:30","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=102889"},"modified":"2020-08-06T05:39:40","modified_gmt":"2020-08-06T09:39:40","slug":"103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/","title":{"rendered":"GBP\/INR Surges Over 0.50% As BOE Leaves Monetary Policy Unchanged"},"content":{"rendered":"

GBP\/INR<\/a> is surging on Thursday, after a two-day correction. Currently, one British pound<\/a> buys 98.604 Indian rupees<\/a>, up 0.54% as of 6:30 AM UTC. The pair almost touched the highest level in two years, which was previously set on Friday.<\/p>\n

Earlier today, the Bank of England (BoE) maintained the interest rate unchanged at 0.1%. The bond-buying programme was also left untouched at 745 billion pounds. The policymakers\u2019 decision was in line with analysts\u2019 expectations.<\/p>\n

As for the economic outlook, the central bank said that it anticipated the recovery to take longer than initially thought. Britain\u2019s economy would probably get back to pre-COVID levels by the end of next year.<\/p>\n

The BoE has also warned<\/a> of potential risks of negative rates:<\/p>\n

\u201cThe MPC will continue to review the appropriateness of a negative policy rate as a policy tool alongside its broader toolkit.”<\/em><\/p>\n

The bank added:<\/p>\n

The MPC has other instruments available \u2014 for example, asset purchases and forward guidance.<\/em> The MPC will continue to assess the appropriate monetary policy stance and will keep the appropriate tools for achieving its remit \u2014 including negative policy rates \u2014 under review.\u201d<\/em><\/p>\n

While the recovery would take longer, the downturn is less severe than initial estimates. The BoE expects the gross domestic product (GDP) to contract 9.5% in 2020. It would be the biggest annual drop in a century. Still, it\u2019s way lower than the previous estimate of a 14% decline.<\/p>\n

RBI Leaves Interest Rate Unchanged As Well<\/h2>\n

Elsewhere, the Reserve Bank of India\u2019s policymakers also met earlier today to decide the next steps to support an economy struggling with the impact of the pandemic. The central bank unanimously decided to leave the repo rate unchanged at 4% and the reverse repo rate at 3.35%, which is the lowest in 20 years.<\/p>\n

The RBI ruled out any potential increase in the key rate for the near future, given the situation with the pandemic.<\/p>\n

The number of coronavirus cases continues to increase in India. On Wednesday, the country saw the second-highest daily surge in infections. This doesn\u2019t allow major states and cities to ease the strict lockdown rules, which could support the economic revival.<\/p>\n

GBP Index Today - last 90 days<\/div>
\n\"\"<\/p>\n
Currency Index charts show the strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore live exchange rates here<\/a>.<\/div>
What does this show? <\/span><\/a><\/div>
Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

GBP\/INR is surging on Thursday, after a two-day correction. Currently, one British pound buys 98.604 Indian rupees, up 0.54% as of 6:30 AM UTC. The pair almost touched the highest level in two years, which was previously set on Friday. Earlier today, the Bank of England (BoE) maintained the interest rate unchanged at 0.1%. The […]<\/p>\n","protected":false},"author":163946609,"featured_media":83913,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[1530,2423,1394,1861,1666,1750],"class_list":{"0":"post-102889","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-inr","9":"tag-bank-of-england","10":"tag-covid","11":"tag-gbp","12":"tag-gbp-inr","13":"tag-inr","14":"tag-reserve-bank-of-india"},"acf":[],"yoast_head":"\nGBP\/INR Surges Over 0.50% As BOE Leaves Monetary Policy Unchanged - 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\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/\" \/>\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\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c9c031720b5822c1d9bb63b59c6535ce\"},\"headline\":\"GBP\\\/INR Surges Over 0.50% As BOE Leaves Monetary Policy Unchanged\",\"datePublished\":\"2020-08-06T07:18:30+00:00\",\"dateModified\":\"2020-08-06T09:39:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/\"},\"wordCount\":418,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/exchange-rates-gbp-inr.jpg\",\"keywords\":[\"bank of england\",\"covid\",\"gbp\",\"gbp\\\/inr\",\"inr\",\"Reserve Bank of India\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/\",\"name\":\"GBP\\\/INR Surges Over 0.50% As BOE Leaves Monetary Policy Unchanged - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/exchange-rates-gbp-inr.jpg\",\"datePublished\":\"2020-08-06T07:18:30+00:00\",\"dateModified\":\"2020-08-06T09:39:40+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c9c031720b5822c1d9bb63b59c6535ce\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/exchange-rates-gbp-inr.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/exchange-rates-gbp-inr.jpg\",\"width\":1200,\"height\":675,\"caption\":\"inr-currency-symbols-wooden-cubes\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/INR Surges Over 0.50% As BOE Leaves Monetary Policy Unchanged\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c9c031720b5822c1d9bb63b59c6535ce\",\"name\":\"Anatol Antonovici\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/38b3e7f20d7a1bb12ef894996e88cd6cc079c02b14543bca8d80e65fffb21bc3?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/38b3e7f20d7a1bb12ef894996e88cd6cc079c02b14543bca8d80e65fffb21bc3?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/38b3e7f20d7a1bb12ef894996e88cd6cc079c02b14543bca8d80e65fffb21bc3?s=96&d=blank&r=g\",\"caption\":\"Anatol Antonovici\"},\"description\":\"Anatol Antonovici is a foreign exchange and cryptocurrency writer with over seven years of trading and journalism experience. He has covered Forex currencies from a fundamental perspective, especially GBP and USD-related pairs. Besides his Forex-related activities, Anatol is a cryptocurrency journalist who has worked for several crypto news sites, including Bitcoinist, Cointelegraph and Cryptovest\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/anatol-antonovicitw-external-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/INR Surges Over 0.50% As BOE Leaves Monetary Policy Unchanged - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/","twitter_misc":{"Written by":"Anatol Antonovici","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/"},"author":{"name":"Anatol Antonovici","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/c9c031720b5822c1d9bb63b59c6535ce"},"headline":"GBP\/INR Surges Over 0.50% As BOE Leaves Monetary Policy Unchanged","datePublished":"2020-08-06T07:18:30+00:00","dateModified":"2020-08-06T09:39:40+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/"},"wordCount":418,"image":{"@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/12\/exchange-rates-gbp-inr.jpg","keywords":["bank of england","covid","gbp","gbp\/inr","inr","Reserve Bank of India"],"articleSection":["GBP","INR"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/","url":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/","name":"GBP\/INR Surges Over 0.50% As BOE Leaves Monetary Policy Unchanged - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/12\/exchange-rates-gbp-inr.jpg","datePublished":"2020-08-06T07:18:30+00:00","dateModified":"2020-08-06T09:39:40+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/c9c031720b5822c1d9bb63b59c6535ce"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/12\/exchange-rates-gbp-inr.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/12\/exchange-rates-gbp-inr.jpg","width":1200,"height":675,"caption":"inr-currency-symbols-wooden-cubes"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/103785-gbp-inr-surges-over-0-50-as-boe-leaves-monetary-policy-unchanged\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/INR Surges Over 0.50% As BOE Leaves Monetary Policy Unchanged"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/c9c031720b5822c1d9bb63b59c6535ce","name":"Anatol Antonovici","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/38b3e7f20d7a1bb12ef894996e88cd6cc079c02b14543bca8d80e65fffb21bc3?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/38b3e7f20d7a1bb12ef894996e88cd6cc079c02b14543bca8d80e65fffb21bc3?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/38b3e7f20d7a1bb12ef894996e88cd6cc079c02b14543bca8d80e65fffb21bc3?s=96&d=blank&r=g","caption":"Anatol Antonovici"},"description":"Anatol Antonovici is a foreign exchange and cryptocurrency writer with over seven years of trading and journalism experience. He has covered Forex currencies from a fundamental perspective, especially GBP and USD-related pairs. Besides his Forex-related activities, Anatol is a cryptocurrency journalist who has worked for several crypto news sites, including Bitcoinist, Cointelegraph and Cryptovest","url":"https:\/\/currencylive.com\/news\/author\/anatol-antonovicitw-external-com\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/12\/exchange-rates-gbp-inr.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/102889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946609"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=102889"}],"version-history":[{"count":3,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/102889\/revisions"}],"predecessor-version":[{"id":102908,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/102889\/revisions\/102908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/83913"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=102889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=102889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=102889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}