{"id":97948,"date":"2020-03-25T04:58:42","date_gmt":"2020-03-25T08:58:42","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97948"},"modified":"2020-03-25T04:59:01","modified_gmt":"2020-03-25T08:59:01","slug":"102797-gbp-inr-extends-rally-trades-at-90-359","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102797-gbp-inr-extends-rally-trades-at-90-359\/","title":{"rendered":"GBP\/INR Extends Rally, Trades at 90.359"},"content":{"rendered":"

GBP\/INR<\/a> continues to recover on Wednesday. Currently, the pair is trading at 90.359, up 0.67% as of 7:15 AM UTC. This is the fourth bullish session in a row.<\/p>\n

Check real time GBP to INR exchange rate<\/span><\/a><\/div>\n

Rupee Hit by Lockdown Measures<\/h2>\n

The Indian rupee<\/a> started to deteriorate rapidly after the federal government introduced lockdown measures to curb the spread of the new coronavirus<\/a>. The already weakening economy will aggravate its recession.<\/p>\n

The effect of the coronavirus is already visible in foreign trade figures, as India\u2019s import basket tumbled 16% from March 1 to 19, dragged down by import of precious stones, gold, and a decline in oil prices. Exports fell by 8.2% for the same period.<\/p>\n

Elsewhere, Britain is also tightening its \u201cstay at home\u201d rhetoric, as the government reported the biggest single-day rise in deaths caused by the virus. On Tuesday, the death toll rose by 87 to 422, and the number of confirmed cases rose 21% to 8,077.<\/p>\n

UK Core Inflation Beat Expectations<\/h2>\n

Prime Minister Boris Johnson ordered everyone to stay at home and shut down businesses that operated pubs, restaurants, and cinemas.<\/p>\n

Meanwhile, the Office for National Statistics (ONS) released inflation data for February, which declined from a six-month peak. The consumer prices index (CPI) dropped to 1.7% from 1.8% in January, in line with analysts\u2019 expectations. The core CPI figure, which doesn\u2019t include energy, food, alcohol and tobacco prices, surprisingly rose to 1.7%.<\/p>\n

The drop in inflation reflected a decline in prices of oil and video games. Oil prices crashed about 50% since February peaks, as Saudi Arabia escalated a price war against Russia by boosting output and cutting its official sales prices.<\/p>\n

Samuel Tombs of Pantheon Macroeconomics commented<\/a>:<\/p>\n

\u201cCPI inflation looks set to decline sharply over the coming months and to fall comfortably below 1% in the summer<\/em>.\u201d<\/p>\n

Retail price inflation, which is a less accurate gauge of inflation that is still measured for related government bonds and some commercial contracts, dropped to 2.5% from 2.7% in January.<\/p>\n

Producer output price inflation dropped last month to 0.4% from 1.0% in January.<\/p>\n

The Bank of England continues to pump cash into the economy in an effort to support businesses, though recession can\u2019t be avoided.<\/p>\n","protected":false},"excerpt":{"rendered":"

GBP\/INR continues to recover on Wednesday. Currently, the pair is trading at 90.359, up 0.67% as of 7:15 AM UTC. This is the fourth bullish session in a row. Rupee Hit by Lockdown Measures The Indian rupee started to deteriorate rapidly after the federal government introduced lockdown measures to curb the spread of the new […]<\/p>\n","protected":false},"author":163946603,"featured_media":76446,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[2139,1394,1861,1666,2038,2543],"class_list":{"0":"post-97948","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-inr","9":"tag-coronavirus","10":"tag-gbp","11":"tag-gbp-inr","12":"tag-inr","13":"tag-oil-prices","14":"tag-video-games"},"acf":[],"yoast_head":"\nGBP\/INR Extends Rally, Trades at 90.359 - 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\/102797-gbp-inr-extends-rally-trades-at-90-359\/\" \/>\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\\\/102797-gbp-inr-extends-rally-trades-at-90-359\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102797-gbp-inr-extends-rally-trades-at-90-359\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3bd9732cd8453e3df154132a302a4416\"},\"headline\":\"GBP\\\/INR Extends Rally, Trades at 90.359\",\"datePublished\":\"2020-03-25T08:58:42+00:00\",\"dateModified\":\"2020-03-25T08:59:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102797-gbp-inr-extends-rally-trades-at-90-359\\\/\"},\"wordCount\":381,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102797-gbp-inr-extends-rally-trades-at-90-359\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Pair-Trading-Flat-in-Early-Session.jpg\",\"keywords\":[\"coronavirus\",\"gbp\",\"gbp\\\/inr\",\"inr\",\"oil prices\",\"video games\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102797-gbp-inr-extends-rally-trades-at-90-359\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102797-gbp-inr-extends-rally-trades-at-90-359\\\/\",\"name\":\"GBP\\\/INR Extends Rally, Trades at 90.359 - 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