20.7 C
Munich
Monday, July 13, 2020

GBP/INR Trading Sideways Amid Lack of Fundamentals

Must read

8 Actual Real Estate Marketing Hacks – (No FB, Google Ads)

The real estate business has fluctuated over the previous decade - NAR (National Association of Realtors) participation was at the highest point...

5 Not to Miss Property Investment Strategies For UK

There is a ton of worry among the property business network in the UK right now. Pandemic is all around and it...

5 Best Real Estate Crowdfunding Platforms in Europe – Pros & Cons

Searching and then finding the best Real Estate crowdfunding site in Europe for your enterprise can be a tough task. With such...

DIY Home Staging Tips you should follow to sell your home faster

Once your house is listed for sale, you might have been perturbed by the number of real estate agents who want you...
inr-symbol-forex-performanc - INR

GBP/INR is moving languidly within a sideways trend that has formed very close to the lowest level since April 7. Currently, one British pound buys 93.593 Indian rupees, up 0.04% as of 5:45 AM UTC.

The pound has weakened against the Indian currency since the start of May. Nevertheless, the pair remains inside a broader horizontal channel that formed at the end of March.

Both the British and Indian economies are facing unprecedented challenges amid the COVID pandemic that forced the government to implement drastic lockdown measures. Entire sectors have been shut down, causing a surge in unemployment and a collapse in consumption.

The UK is trying to gradually ease some of these measures, but market participants are confused about the reopening of the economy. Prime Minister Boris Johnson announced the updates on Sunday but warned yesterday that the country experienced the most dangerous point in the fight against the coronavirus. He told the parliament:

Our journey has reached the most perilous moment where a wrong move could be disastrous. So at this stage, we can go no further than to announce the first careful modification of our measures.”

The government released guidance on how companies could start the gradual reopening of the economy. The PM encouraged those who work from home to continue to do so if possible. If there is no other way to carry out the job, they can go to work.

India’s Consumer Demand Slightly Up

In India, the Times of India reported that the country was experiencing the first signs of an increase in consumer demand, as the government is cautiously easing measures in the green zones.

A recent survey conducted by Bain & Company and Price suggested an increase in online shopping.

Bain & Company partner Nikhil Prasad Ojha said that the survey pointed to a declining sentiment all through April. In the first week of May, the green and orange zones showed some revival of sentiment and consumer demand. The green and orange zones, which reported fewer coronavirus cases than the red zones, account for over 80% of the country.


Currencylive.com is a news site only and not a currency trading platform.
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.
- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

8 Actual Real Estate Marketing Hacks – (No FB, Google Ads)

The real estate business has fluctuated over the previous decade - NAR (National Association of Realtors) participation was at the highest point...

5 Not to Miss Property Investment Strategies For UK

There is a ton of worry among the property business network in the UK right now. Pandemic is all around and it...

5 Best Real Estate Crowdfunding Platforms in Europe – Pros & Cons

Searching and then finding the best Real Estate crowdfunding site in Europe for your enterprise can be a tough task. With such...

DIY Home Staging Tips you should follow to sell your home faster

Once your house is listed for sale, you might have been perturbed by the number of real estate agents who want you...

Solar emerging as best bet for West Africa’s future energy mix

The Economic Community of West African States should prioritize the development of solar PV to meet surging energy demand over the next...