Guides

Namaste! Planning to send Pounds to India? Aap bilkul sahi jagah par hain! India's economy could be a rollercoaster, but don't fret, we've got the insights you need. The Rupee's strength can change faster than a Mumbai local train, affecting your GBP-to-INR rates. Timing is everything; you could lose or gain thousands of Rupees within hours. Curious about how demonetization or GST impacted rates? Or how to make the forex market work for you? Keep reading to unlock these secrets.

TL;DR:

• India's economic landscape influences GBP-to-INR rates.
• Timing your transfers can result in significant rate differences.
• Use sendrater.com for the most current and best rates.

Transferring money from the UK to India comes with its own set of challenges. One of the key concerns is obtaining the most favourable exchange rate for converting GBP to Indian Rupees (INR). The strength of India's IT and service sector often boosts the value of the Rupee against other currencies, including the GBP. A stronger Rupee means you'll get fewer Rupees for your pounds.

Timing Matters

The exchange rate can vary even within a single day. For example, if you send 1,000 GBP, you might get 100,000 INR during the morning but only 98,000 INR in the evening due to rate fluctuations.

Historical Events with Significant Impact

Demonetization in 2016: The Indian government's decision to demonetize large currency notes led to a significant decrease in the value of the Rupee. GBP-to-INR rates spiked during this period.

GST Implementation in 2017: The introduction of the Goods and Services Tax led to initial economic uncertainty but eventually contributed to a stronger Rupee.

COVID-19 Pandemic: The global crisis had a dual effect; initially weakening the Rupee but later strengthening it due to a quick economic recovery and high foreign reserves.

Action Plan

1. Keep an eye on India's economic indicators and historical events that could influence the exchange rate.
2. Use sendrater.com to compare rates in real-time.
3. Schedule your transfers considering the economic calendar and forex market fluctuations.
4. Use our (near) real time comparison tool to explore best money transfer rates to India.

Today's (06 Oct 2024) most favourable exchange rate for sending money from United Kingdom to India in GBP is offered by WorldRemit at a rate of 110.08 INR. Including all the fees the recipients will receive 11,008.00 INR for your 100 GBP. For other currencies, please visit our rates page.