{"id":98700,"date":"2020-04-10T03:12:50","date_gmt":"2020-04-10T07:12:50","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=98700"},"modified":"2020-04-10T03:36:56","modified_gmt":"2020-04-10T07:36:56","slug":"102984-gbp-inr-slips-0-50-after-failing-to-maintain-above-95-00","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102984-gbp-inr-slips-0-50-after-failing-to-maintain-above-95-00\/","title":{"rendered":"GBP\/INR Slips 0.50% After Failing to Maintain Above 95.00"},"content":{"rendered":"

GBP\/INR<\/a> turned bearish on Friday, but it will end the week in green. Currently, the pair is trading at 94.553, down 0.50% as of 6:40 AM UTC. The price has been moving sideways since March 27. So far, it couldn\u2019t break a strong resistance level at around 95.000 and found support at about 93.000.<\/p>\n

All the markets of most major economies are closed today in observance of Good Friday, including the British and Indian ones. Investors are exploring the fundamentals from earlier this week.<\/p>\n

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

India\u2019s Industrial Production Hit 7-Month High in February<\/h2>\n

The Indian rupee<\/a> bounced back after the government said that industrial production increased at the fastest pace in seven months in February, at 4.5%. The indicator was driven by an acceleration in mining and manufacturing activity, as well as in electricity generation. The Index of Industrial Production (IIP) saw a growth of 0.2% in February 2019.<\/p>\n

Even though the rupee has managed to rebound against the pound, the Indian currency is still under pressure and may return to the bearish trend soon.<\/p>\n

India\u2019s already weakening economy is currently struggling after the severe lockdown measures imposed by the government.<\/p>\n

RBI Expects Q4 Inflation at 2.4%<\/h2>\n

The Reserve Bank of India (RBI) anticipates that inflation would tumble to 2.4% in the last quarter of the fiscal year 2021 amid a decline in demand. The circumstances might force the central bank to seek more rate cuts. Nevertheless, the RBI admitted that the pandemic could upset all predictions.<\/p>\n

Usually, the report comes with the Monetary Policy Committee\u2019s rate decision, but at this time it was issued on Thursday as the MPC meeting was advanced to March 27 in an emergency move. The bank said<\/a>:<\/p>\n

\u201cIn these conditions, forecasts are hazardous as they are subject to large revisions with every incoming data on the pandemic. The RBI Act, however, enjoins the RBI to publish and explain in the MPR, inter alia, the forecasts of inflation for 6-18 months from the date of its publication<\/em>.\u201d<\/p>\n

The central bank\u2019s inflation target ranges between 2% and 6%. In January, the consumer price index surged to 7.6%, creating the conditions of stagflation, as the economy was still deteriorating even before the coronavirus outbreak was an issue.<\/p>\n","protected":false},"excerpt":{"rendered":"

GBP\/INR turned bearish on Friday, but it will end the week in green. Currently, the pair is trading at 94.553, down 0.50% as of 6:40 AM UTC. The price has been moving sideways since March 27. So far, it couldn\u2019t break a strong resistance level at around 95.000 and found support at about 93.000. All […]<\/p>\n","protected":false},"author":163946603,"featured_media":83445,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[1394,2633,1666,1946],"class_list":["post-98700","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-inr","tag-gbp","tag-indian-inflation","tag-inr","tag-rbi"],"acf":[],"yoast_head":"\nGBP\/INR Slips 0.50% After Failing to Maintain Above 95.00 - 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\/102984-gbp-inr-slips-0-50-after-failing-to-maintain-above-95-00\/\" \/>\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\\\/102984-gbp-inr-slips-0-50-after-failing-to-maintain-above-95-00\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102984-gbp-inr-slips-0-50-after-failing-to-maintain-above-95-00\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3bd9732cd8453e3df154132a302a4416\"},\"headline\":\"GBP\\\/INR Slips 0.50% After Failing to Maintain Above 95.00\",\"datePublished\":\"2020-04-10T07:12:50+00:00\",\"dateModified\":\"2020-04-10T07:36:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102984-gbp-inr-slips-0-50-after-failing-to-maintain-above-95-00\\\/\"},\"wordCount\":397,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102984-gbp-inr-slips-0-50-after-failing-to-maintain-above-95-00\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/inr-gbp-exchange-rates-convert.jpg\",\"keywords\":[\"gbp\",\"Indian inflation\",\"inr\",\"RBI\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102984-gbp-inr-slips-0-50-after-failing-to-maintain-above-95-00\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102984-gbp-inr-slips-0-50-after-failing-to-maintain-above-95-00\\\/\",\"name\":\"GBP\\\/INR Slips 0.50% After Failing to Maintain Above 95.00 - 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