{"id":96210,"date":"2020-02-18T03:33:30","date_gmt":"2020-02-18T08:33:30","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=96210"},"modified":"2020-02-18T06:26:03","modified_gmt":"2020-02-18T11:26:03","slug":"102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/","title":{"rendered":"GBP\/INR: Rupee Declines on Moody\u2019s Updated Outlook for India"},"content":{"rendered":"

GBP\/INR<\/a> is ready to start an intraday uptrend after losing 0.61% on Monday. Currently, the pair is trading at 92.829, up 0.08% as of 5:40 AM UTC.<\/p>\n

The pound<\/a> is recovering on several positive UK data confirming an uptick in consumer confidence and on comments that Britain doesn\u2019t need anything special from the trade deal with the European Union. Elsewhere, the Indian rupee<\/a> is under pressure after rating agency Moody\u2019s cut its outlook for India.<\/p>\n

Moody’s reduced its growth forecast for India<\/h2>\n

On Monday, Moody\u2019s reduced its 2020 growth forecast for India to 5.4% from 6.6% predicted earlier, suggesting slower recovery. The agency cited domestic factors but also mentioned the impact of the coronavirus outbreak. In the fiscal year 2021, the Indian economy is expected to grow by 5.8% versus 6.7% predicted earlier.<\/p>\n

Moody\u2019s said that India\u2019s economy had slowed dramatically in the last two years. The February update of its Global Macro Outlook report reads<\/a>:<\/p>\n

\u201cAmong emerging market countries, we have materially revised downward our growth forecasts for India, Mexico and South Africa. In all four cases, the revisions reflect wholly domestic challenges, rather than external factors.\u201d<\/em><\/p>\n

Interestingly, Moody\u2019s outlook is way below that of competitor S&P, which expects 6% growth in 2020 and 7% in 2021.<\/p>\n

Moody\u2019s said that credit impulse in the Indian economy had weakened last year, citing data from the Reserve Bank of India (RBI).<\/p>\n

\u201cBanks have been both unwilling to lend and to lower lending rates despite successive interest rate cuts by the central bank. With a weak economy and depressed credit growth reinforcing each other, it is difficult to envision a quick turnaround of either, even if economic deceleration may have troughed,\u201d<\/em> the agency noted.<\/p>\n

Judging by indicators like the purchasing managers\u2019 index, the economy might have stabilized this year. Last week, Indian finance minister Nirmala Sitharaman said there were green shoots of recovery.<\/p>\n

The report stressed that an increase in domestic demand and revival of credit growth would be essential to supporting economic momentum. However, the agency added that the Union Budget 2020 didn\u2019t comprise any leverages to address the drop in demand.<\/p>\n

Moody\u2019s anticipated more easing from the RBI, but this might be impossible if food prices continue to increase at such a high rate.<\/p>\n

\n
Currencylive.com<\/em> is a news site only and not a currency trading platform.<\/em><\/h6>\n
Currencylive.com is a site operated by TransferWise Inc. (“We”, “Us”), 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":"

GBP\/INR is ready to start an intraday uptrend after losing 0.61% on Monday. Currently, the pair is trading at 92.829, up 0.08% as of 5:40 AM UTC. The pound is recovering on several positive UK data confirming an uptick in consumer confidence and on comments that Britain doesn\u2019t need anything special from the trade deal […]<\/p>\n","protected":false},"author":163946603,"featured_media":82472,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[2139,1629,1394,2353,1666,1812],"class_list":["post-96210","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-inr","tag-coronavirus","tag-economics","tag-growth-forecast","tag-inr","tag-moodys"],"acf":[],"yoast_head":"\nGBP\/INR: Rupee Declines on Moody\u2019s Updated Outlook for India - Currency Live<\/title>\n<meta name=\"description\" content=\"GBP\/INR is ready to start an intraday uptrend after losing 0.61% on Monday. Currently, the pair is trading at 92.829, as of 5:40 AM UTC.\" \/>\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\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3bd9732cd8453e3df154132a302a4416\"},\"headline\":\"GBP\\\/INR: Rupee Declines on Moody\u2019s Updated Outlook for India\",\"datePublished\":\"2020-02-18T08:33:30+00:00\",\"dateModified\":\"2020-02-18T11:26:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/\"},\"wordCount\":628,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-inr-forex-exchage-rates.jpg\",\"keywords\":[\"coronavirus\",\"economics\",\"gbp\",\"growth forecast\",\"inr\",\"moody's\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/\",\"name\":\"GBP\\\/INR: Rupee Declines on Moody\u2019s Updated Outlook for India - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-inr-forex-exchage-rates.jpg\",\"datePublished\":\"2020-02-18T08:33:30+00:00\",\"dateModified\":\"2020-02-18T11:26:03+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3bd9732cd8453e3df154132a302a4416\"},\"description\":\"GBP\\\/INR is ready to start an intraday uptrend after losing 0.61% on Monday. Currently, the pair is trading at 92.829, as of 5:40 AM UTC.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-inr-forex-exchage-rates.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-inr-forex-exchage-rates.jpg\",\"width\":1200,\"height\":675,\"caption\":\"inr-currency-symbol - INR\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/INR: Rupee Declines on Moody\u2019s Updated Outlook for India\"}]},{\"@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\\\/3bd9732cd8453e3df154132a302a4416\",\"name\":\"Anatol Antonovici\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g\",\"caption\":\"Anatol Antonovici\"},\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/anatol-antonovici\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/INR: Rupee Declines on Moody\u2019s Updated Outlook for India - Currency Live","description":"GBP\/INR is ready to start an intraday uptrend after losing 0.61% on Monday. Currently, the pair is trading at 92.829, as of 5:40 AM UTC.","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\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/","twitter_misc":{"Written by":"Anatol Antonovici","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/"},"author":{"name":"Anatol Antonovici","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3bd9732cd8453e3df154132a302a4416"},"headline":"GBP\/INR: Rupee Declines on Moody\u2019s Updated Outlook for India","datePublished":"2020-02-18T08:33:30+00:00","dateModified":"2020-02-18T11:26:03+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/"},"wordCount":628,"image":{"@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/11\/usd-inr-forex-exchage-rates.jpg","keywords":["coronavirus","economics","gbp","growth forecast","inr","moody's"],"articleSection":["GBP","INR"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/","url":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/","name":"GBP\/INR: Rupee Declines on Moody\u2019s Updated Outlook for India - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/11\/usd-inr-forex-exchage-rates.jpg","datePublished":"2020-02-18T08:33:30+00:00","dateModified":"2020-02-18T11:26:03+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3bd9732cd8453e3df154132a302a4416"},"description":"GBP\/INR is ready to start an intraday uptrend after losing 0.61% on Monday. Currently, the pair is trading at 92.829, as of 5:40 AM UTC.","breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/11\/usd-inr-forex-exchage-rates.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/11\/usd-inr-forex-exchage-rates.jpg","width":1200,"height":675,"caption":"inr-currency-symbol - INR"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/102412-gbp-inr-rupee-declines-on-moodys-updated-outlook-for-india\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/INR: Rupee Declines on Moody\u2019s Updated Outlook for India"}]},{"@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\/3bd9732cd8453e3df154132a302a4416","name":"Anatol Antonovici","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g","caption":"Anatol Antonovici"},"url":"https:\/\/currencylive.com\/news\/author\/anatol-antonovici\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/11\/usd-inr-forex-exchage-rates.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/96210","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\/163946603"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=96210"}],"version-history":[{"count":1,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/96210\/revisions"}],"predecessor-version":[{"id":96212,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/96210\/revisions\/96212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/82472"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=96210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=96210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=96210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}