{"id":109831,"date":"2021-05-07T09:00:57","date_gmt":"2021-05-07T08:00:57","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=109831"},"modified":"2021-05-09T21:57:48","modified_gmt":"2021-05-09T20:57:48","slug":"105653-gbp-inr-rupee-showed-resilience-across-the-week","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105653-gbp-inr-rupee-showed-resilience-across-the-week\/","title":{"rendered":"GBP\/INR: Rupee Showed Resilience Across The Week"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) set for a very mild weekly loss<\/strong><\/li>\n<li><strong>IMF could downwardly revise India\u2019s GDP outlook<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rises post BoE<\/strong><\/li>\n<li><strong>BoE upwardly revised the UK growth outlook<\/strong><\/li>\n<\/ul>\n<p>The Pound Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">GBP\/INR<\/a>) exchange rate rising on the last day of the week, paring losses from the previous session. The pair settled -0.39% on Thursday at 102.20. At 06:45 UTC, GBP\/INR trades +0.2% at 102.42. The pair is on track to gain +0.1% across the week.<\/p>\n<p>The Rupee has shown resilience this week despite the ongoing covid crisis, as it traced domestic equities higher. The Sensex has gained over 1% this week on the back of strong earnings and rising commodity stocks.<\/p>\n<p>The International Monetary Fund has said that it will need to revisit its 12.5% growth forecast in the fiscal year 2021\/22. The IMF will publish its forecast in the World Economic Outlook in July.<\/p>\n<p>The broad expectation is that there will be a downward revision in light of the ongoing covid crisis in India. India recorded over 400,000 new cases for a second straight day on Friday.<\/p>\n<p>The extent to which the India economy is hit by this latest resurgence in covid depends largely on how long the crisis continues.<\/p>\n<p>As was broadly expected, the Bank of England left monetary policy unchanged. The main interest rate remains at historical lows of 0.1% and the asset purchase programme at \u00a3875 billion.<\/p>\n<p>Despite not moving on policy, the central bank acknowledged the improving economic picture. The BoE now expects a speedier recovery. The BoE upwardly revised its GDP for 2021 to 7.25% and to 5.75% in 2022. Inflation is now expected to reach 2.5% this year. The rapid vaccine rollout, easing of lockdown restrictions and the extension of the furlough scheme from April to September have all played a part in lifting the pace of economic recovery.<\/p>\n<p>Data released yesterday supported the BoE\u2019s upbeat outlook. The service sector PMI hit an almost 8 year high of 61 in April as lockdown restrictions eased.<\/p>\n<p>Despite the good news, the Pound remained under pressure versus the stronger Euro. The ongoing Brexit tensions could be dragging on demand for the Pound.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) set for a very mild weekly loss IMF could downwardly revise India\u2019s GDP outlook Pound (GBP) rises post BoE BoE upwardly revised the UK growth outlook The Pound Indian Rupee (GBP\/INR) exchange rate rising on the last day of the week, paring losses from the previous session. The pair settled -0.39% on [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47015,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[1394,1861,1666],"class_list":{"0":"post-109831","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-inr","9":"tag-gbp","10":"tag-gbp-inr","11":"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: Rupee Showed Resilience Across The Week - 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\/105653-gbp-inr-rupee-showed-resilience-across-the-week\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\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\\\/105653-gbp-inr-rupee-showed-resilience-across-the-week\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105653-gbp-inr-rupee-showed-resilience-across-the-week\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/INR: Rupee Showed Resilience Across The Week\",\"datePublished\":\"2021-05-07T08:00:57+00:00\",\"dateModified\":\"2021-05-09T20:57:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105653-gbp-inr-rupee-showed-resilience-across-the-week\\\/\"},\"wordCount\":354,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105653-gbp-inr-rupee-showed-resilience-across-the-week\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/gbp-inr.jpg\",\"keywords\":[\"gbp\",\"gbp\\\/inr\",\"inr\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105653-gbp-inr-rupee-showed-resilience-across-the-week\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105653-gbp-inr-rupee-showed-resilience-across-the-week\\\/\",\"name\":\"GBP\\\/INR: Rupee Showed Resilience Across The Week - 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