{"id":84411,"date":"2020-01-02T03:36:37","date_gmt":"2020-01-02T08:36:37","guid":{"rendered":"https:\/\/currencylive.com\/?p=84411"},"modified":"2020-01-02T03:21:15","modified_gmt":"2020-01-02T08:21:15","slug":"101935-gbp-inr-rupee-advances-on-strong-manufacturing-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\/","title":{"rendered":"GBP\/INR: Rupee Advances on Strong Manufacturing Data"},"content":{"rendered":"<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-inr-exchange-rate-today\/\">GBP\/INR<\/a> is declining in early trading on Thursday. The pair is currently trading at 94.293, down 0.11% as of 6:00 AM UTC.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>On the first day of the year, the sterling entered a correction phase after rallying since December 23. Nevertheless, the pair has managed to recover about 85% of the losses caused by the post-election bearish trend.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The rupee forces the pair to test support levels after India released strong manufacturing data. India\u2019s manufacturing sector expanded in December at the fastest pace in ten months, driven by robust growth in factory orders.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>IHS Markit said that India\u2019s manufacturing purchasing managers\u2019 index (PMI) increased to 52.7 in December, from 51.2 in November. Analysts expected contraction to 51.0. A reading above the 50-mark suggests expansion.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The index was pushed by consumer goods, while capital goods remained below 50.0. Pollyanna de Lima, Principal Economist at IHS Markit, <a href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/indicators\/indias-december-factory-activity-picks-up-to-7-month-high-but-business-optimism-weakens\/articleshow\/73065156.cms\">commented<\/a>:<\/p>\n<p><i>\u201cFactories benefited from a rebound in demand, and responded by scaling up production to the greatest extent since May. There were also renewed increases in input purchasing and employment during December.\u201d<\/i><\/p>\n<p>The better-than-expected performance is like a breath of fresh air for the rupee, which was hit amid India\u2019s struggling economy. Despite the December result, the manufacturing PMI\u2019s average figure for the third quarter of the fiscal year 2019\/2020 was the lowest since the three months to September 2017.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>On January 7, India will release the first preliminary estimates for economic growth for 2019\/2020. Asia\u2019s third-largest economy saw its economy expanding at a modest rate of 4.5% in the July-September quarter, which was the slowest growth in more than six years.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>IHS Markit\u2019s survey showed that manufacturers started to hire more in December amid improving underlying demand. Employment in the industry showed the largest growth since February.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Despite a solid performance in operating conditions last month, Indian companies were not so confident about the 2020 outlook. Production is anticipated to expand in the coming 12 months on average, but optimism fell to a 34-month low.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The UK is expected to release its December manufacturing PMI later today.<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 declining in early trading on Thursday. The pair is currently trading at 94.293, down 0.11% as of 6:00 AM UTC.\u00a0 On the first day of the year, the sterling entered a correction phase after rallying since December 23. Nevertheless, the pair has managed to recover about 85% of the losses caused by the [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":76446,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[1568,1852,1870,1394,1768,1666,2022,2010,1454,2023],"class_list":{"0":"post-84411","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","9":"tag-economic-growth","10":"tag-economy","11":"tag-exchange-rates","12":"tag-gbp","13":"tag-ihs-markit","14":"tag-inr","15":"tag-manufacturers","16":"tag-manufacturing-index","17":"tag-pmi","18":"tag-production"},"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 Advances on Strong Manufacturing Data - 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\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\/\" \/>\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\\\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/INR: Rupee Advances on Strong Manufacturing Data\",\"datePublished\":\"2020-01-02T08:36:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\\\/\"},\"wordCount\":588,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Pair-Trading-Flat-in-Early-Session.jpg\",\"keywords\":[\"economic growth\",\"economy\",\"exchange rates\",\"gbp\",\"IHS Markit\",\"inr\",\"manufacturers\",\"Manufacturing Index\",\"pmi\",\"production\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\\\/\",\"name\":\"GBP\\\/INR: Rupee Advances on Strong Manufacturing Data - 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Originally from Bucharest, Ileana most commonly transfers EUR to RON and speaks Romanian, English, Italian, Spanish and German.\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/ileana-ionescu\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/INR: Rupee Advances on Strong Manufacturing Data - 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\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\/","twitter_misc":{"Written by":"Ileana Ionescu","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\/"},"author":{"name":"Ileana Ionescu","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b"},"headline":"GBP\/INR: Rupee Advances on Strong Manufacturing Data","datePublished":"2020-01-02T08:36:37+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\/"},"wordCount":588,"image":{"@id":"https:\/\/currencylive.com\/news\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/11\/GBP-INR-Pair-Trading-Flat-in-Early-Session.jpg","keywords":["economic growth","economy","exchange rates","gbp","IHS Markit","inr","manufacturers","Manufacturing Index","pmi","production"],"articleSection":["GBP","INR"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\/","url":"https:\/\/currencylive.com\/news\/101935-gbp-inr-rupee-advances-on-strong-manufacturing-data\/","name":"GBP\/INR: Rupee Advances on Strong Manufacturing Data - 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