Today's GBP to INR Rate: 1 GBP = 105.85 INR (Updated on 22 Jun 2024)

The Pound Sterling, often referred to as the pound or sterling, serves as the official currency for the United Kingdom and several other territories including Guernsey, Jersey, the Isle of Man, and more. It is divided into 100 pence and holds the title of the world's oldest currency still in circulation.

GBP to INR Exchange Rate - Last 10 Days

• 21-June-24: 105.85
• 20-June-24: 106.87
• 19-June-24: 105.95
• 18-June-24: 105.95
• 17-June-24: 106.16
• 16-June-24: 105.95
• 15-June-24: 105.99
• 14-June-24: 105.99
• 13-June-24: 106.53
• 12-June-24: 106.83

Understanding GBP

The British Pound Sterling (GBP) ranks among the most traded currencies in the foreign exchange market. It contributes to the currency basket used to assess the value of IMF special drawing rights, alongside the USD, Euro, Yen, and Yuan. Modern utilization of the Pound Sterling originated with the founding of the Bank of England and Bank of Scotland in 1694 and 1695.

History of GBP

The British Pound was adopted as the official currency of the UK in 1707 following the unification of England and Scotland, but its roots trace back to 760 AD, marking it as the oldest currency still in use. Historically, the British Pound was extensively used in numerous British Empire colonies, such as Australia, Canada, and New Zealand. Initially, banknotes were handwritten by the Bank of England until the year 1855 when printed notes became standard. Throughout the late 19th to early 20th centuries, many nations pegged their currencies to the gold standard.

Factors Influencing GBP to INR Exchange Rate

• Market Sentiment: Geopolitical events, news, and economic data shape trader expectations, impacting currency values.
• Trade Relations: The volume of trade between the UK and India sways demand and exchange rates.
• Political Stability: A steady political scene fosters investor confidence, which positively reflects on currency value.
• Monetary Policies: Adjustments in interest rates by the Reserve Bank of India (RBI) affect the pound's valuation.
• Other Factors: Trade balances, inflation metrics, and GDP growth are significant in currency valuation.

How to Send Money from India to the UK Online

Various online platforms enable the conversion of INR to GBP, offering easy solutions for transferring money from India to the UK. These services are designed to be user-friendly and provide efficient international money transfer solutions, albeit with associated service fees.