{"id":84330,"date":"2019-12-31T03:54:25","date_gmt":"2019-12-31T08:54:25","guid":{"rendered":"https:\/\/currencylive.com\/?p=84330"},"modified":"2019-12-31T03:54:25","modified_gmt":"2019-12-31T08:54:25","slug":"101919-gbp-inr-extends-upward-trend-amid-low-trading-volumes","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101919-gbp-inr-extends-upward-trend-amid-low-trading-volumes\/","title":{"rendered":"GBP\/INR Extends Upward Trend Amid Low Trading Volumes \u00a0"},"content":{"rendered":"<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-inr-exchange-rate-today\/\">GBP\/INR<\/a> is extending its uptrend that took off on December 23. Last Friday, it surged 0.87%. Currently, the pair is trading at 93.636, up 0.14% as of 7:18 AM UTC.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The sterling is supported by hopes that UK Prime Minister Boris Johnson will change mind and extend the Brexit transition deadline beyond December 2020. For this, he will have to abandon a recent amendment that passed through the parliament.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Recently, European trade commissioner Phil Hogan said that he expected Johnson to break his promise and extend the <a href=\"https:\/\/currencylive.com\/topic\/brexit\/\">Brexit<\/a> transition timeline.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>However, the PM was quite categorical in his speech before Christmas. He <a href=\"https:\/\/www.theguardian.com\/politics\/live\/2019\/dec\/30\/labour-leadership-long-bailey-clive-lewis-corbyn-should-have-kept-fighting-for-remain-says-clive-lewis-live-news\">stated<\/a>:<\/p>\n<p>\u201c<i>There would be nothing more dangerous than extending the implementation period, in a torture that, as we all remember, came to resemble Lucy snatching away Charlie Brown\u2019s football or Prometheus chained to the Tartarian crag, his liver pecked out by an eagle and then growing back, as honourable members on both sides of the house will recall, only to be pecked out again, with the cycle repeated forever.\u201d<\/i><\/p>\n<p>Johnson doesn\u2019t like to break his promises, especially after being humiliated by the parliament when his Conservative Party didn\u2019t hold the ruling majority.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Elsewhere, the rupee is supported by optimism over the US-China trade deal. On the other side, the Indian currency has been under pressure amid surging oil prices, with both Brent and WTI brands hitting 3-month highs. Higher prices for oil negatively impact Indian importers.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>In the last six months or so, the rupee has declined against all majors amid India\u2019s <a href=\"https:\/\/currencylive.com\/topic\/economics\/\">economic<\/a> slowdown. Despite this, the Centre for Economic and Business Research (CEBR) said that India would overtake Germany and become the fourth-largest economy in 2026, after the US, China, and Japan. By 2034, India will overtake Japan, according to the report.<\/p>\n<p>A recent survey carried out by Economic Times showed that the rupee might decline at least 3% next year, likely to touch record lows. The 20 market experts polled by the magazine cited fiscal troubles and global recession.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The rupee has declined by over 11% against <a href=\"https:\/\/currencylive.com\/currency\/gbp\/\">the British pound<\/a> since the beginning of August.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), 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 currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/INR is extending its uptrend that took off on December 23. Last Friday, it surged 0.87%. Currently, the pair is trading at 93.636, up 0.14% as of 7:18 AM UTC.\u00a0 The sterling is supported by hopes that UK Prime Minister Boris Johnson will change mind and extend the Brexit transition deadline beyond December 2020. For [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":80615,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[1396,1795,1386,1881,1394,1753,1666,1763,1926],"class_list":{"0":"post-84330","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-brent","11":"tag-brexit","12":"tag-economic-slowdown","13":"tag-gbp","14":"tag-general-elections","15":"tag-inr","16":"tag-oil-price","17":"tag-wti"},"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 Extends Upward Trend Amid Low Trading Volumes \u00a0 - 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\/101919-gbp-inr-extends-upward-trend-amid-low-trading-volumes\/\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101919-gbp-inr-extends-upward-trend-amid-low-trading-volumes\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101919-gbp-inr-extends-upward-trend-amid-low-trading-volumes\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/INR Extends Upward Trend Amid Low Trading Volumes \u00a0\",\"datePublished\":\"2019-12-31T08:54:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101919-gbp-inr-extends-upward-trend-amid-low-trading-volumes\\\/\"},\"wordCount\":598,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101919-gbp-inr-extends-upward-trend-amid-low-trading-volumes\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Awaiting-Inflation-Data-from-UK-India.jpg\",\"keywords\":[\"boris johnson\",\"Brent\",\"Brexit\",\"economic slowdown\",\"gbp\",\"general elections\",\"inr\",\"oil price\",\"wti\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101919-gbp-inr-extends-upward-trend-amid-low-trading-volumes\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101919-gbp-inr-extends-upward-trend-amid-low-trading-volumes\\\/\",\"name\":\"GBP\\\/INR Extends Upward Trend Amid Low Trading Volumes \u00a0 - 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