Trading GBP/INR

Trading GBP/INR, or converting British pounds to Indian rupees, and back again, is one of the oldest forms of forex. The array of fundamental factors and news events that influence the pair, as well as the range 0f tools and forecast graphs that traders can take advantage of, make trading GBP/INR so popular. This guide will discuss all you need to know about the two currencies, including what the rate looks like today, and will provide you with some helpful tips for technical chart analysis for trading GBP/INR.

GBP/INR Trading Brokers

  1. OANDA US - OANDA offers a diverse selection of 68 currency pairs, more than many alternatives. The broker’s in-house platform offers superb day trading capabilities via powerful TradingView charts, including 65+ technical indicators and 11 customizable chart types.
  2. Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
  3. IC Markets - IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
  4. AvaTrade - AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
  5. FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.

Trading GBP/INR Comparison

Trading GBP/INR Comparison
Broker Forex Assets EUR/USD Spread Forex App Rating Minimum Deposit Regulator Visit
OANDA US logo
65+ 1.6
$0 NFA, CFTC Visit
Vantage logo
55+ 0.0
$50 FCA, ASIC, FSCA, VFSC Visit
IC Markets logo
75 0.02
$200 ASIC, CySEC, FSA Visit
AvaTrade logo
50+ 0.9
- ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM Visit
FOREX.com logo
80+ 1.2
$100 NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA Visit
Pepperstone logo
100+ 0.1
$0 FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB Visit
XM logo
55+ 1.6
$5 ASIC, CySEC, DFSA, FSC, FSCA Visit
Eightcap logo
50+ 0.0
$100 ASIC, FCA, xCySEC, SCB Visit
PrimeXBT logo
45+ Variable
$0 - Visit
IQ Option logo
60+ 14 pips
$10 - Visit
IG logo
80+ 0.8
$0 FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA Visit
FxPro logo
70+ 1.58 pips (Ave)
$100 FCA, CySEC, FSCA, SCB, FSC Visit
FXCC logo
70+ 0.2
$0 CySEC Visit
XTB logo
70+ 1.0
$0 FCA, CySEC, KNF, CNMV, DFSA, FSC Visit
Plus500 logo
60+ 0.6
$100 FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA Visit

#1 - OANDA US

Why We Chose OANDA US

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

- DayTrading Review Team
  • GBPUSD Spread: 3.4
  • EURUSD Spread: 1.6
  • EURGBP Spread: 1.7
  • Total Assets: 65+
  • Leverage: 1:50
  • Platforms: OANDA Trade, MT4, TradingView, AutoChartist

#2 - Vantage

Why We Chose Vantage

Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.

"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."

- DayTrading Review Team
  • GBPUSD Spread: 0.5
  • EURUSD Spread: 0.0
  • EURGBP Spread: 0.5
  • Total Assets: 55+
  • Leverage: 1:500
  • Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade

#3 - IC Markets

Why We Chose IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

- DayTrading Review Team
  • GBPUSD Spread: 0.23
  • EURUSD Spread: 0.02
  • EURGBP Spread: 0.27
  • Total Assets: 75
  • Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
  • Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade

#4 - AvaTrade

Why We Chose AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team
  • GBPUSD Spread: 1.5
  • EURUSD Spread: 0.9
  • EURGBP Spread: 1.5
  • Total Assets: 50+
  • Leverage: 1:30 (Retail) 1:400 (Pro)
  • Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

#5 - FOREX.com

Why We Chose FOREX.com

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

- DayTrading Review Team
  • GBPUSD Spread: 1.3
  • EURUSD Spread: 1.2
  • EURGBP Spread: 1.4
  • Total Assets: 80+
  • Leverage: 1:400
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

GBP/INR Meaning

When trading GBP/INR, it is important to understand exactly what is being presented to you. This currency pair is the value of the British pound (GBP) against the Indian rupee (INR) and tells the trader how many Indian rupees (the quote currency) are needed to buy one British pound (the base currency).

Conversely, INR/GBP tells a trader how many pounds are needed to buy one rupee.

Chart

GBP/INR History

The GBP and INR have been closely linked for several hundred years since Great Britain colonised India. Due to the long history of the GBP/INR currency pair and its unique position on the currency market, it has become a favourite amongst forex traders. Individual investors have been known for trading GBP/INR to diversify their forex trading portfolios and strengthen their financial strategies.

Traditionally, the British pound (GBP) had always been exchanged on a gold standard. This was a system under which many countries fixed the value of their currencies to a specified amount of gold. As the INR was so closely associated with the GBP, it was also tied to the gold standard, despite being a silver coin.

Since the suspension of the gold standard in 1931, the GBP has been fiat money, with its value determined by its acceptance in the national and international economy. Indian rupees (INR) were first issued in the 18th century and the currency was decimalised in 1957. For those trading GBP/INR, the exchange rate has steadily increased over the last 20 years and saw higher levels in 2021 than in the five preceding years. The price reached an all-time high in April 2021.

The UK Economy

Understanding economic drivers will help traders to make better-informed decisions when trading GBP/INR. In January 2021, the Bank of England governor stated that the UK economy was experiencing its “darkest hour”. However, the economic outlook was stronger than that of its developed markets peers, which boosted the GBP, making it the best performing G10 currency in the first half of 2021.

It was predicted by the Organisation for Economic Co-operation and Development (OECD) that the UK economy would rise by 7.2% in 2021. This marks one of the fastest increases among the developed economies and tips its GDP growth on a par with India’s.

Some of the UK’s top exports include cars, precious metals and minerals, various machinery, pharmaceuticals, financial services and much more. These types of products are often in high demand, meaning the pound is often on an incline. With the UK’s inflation rate lower than that of many other countries, its purchasing power is therefore higher. This is one reason why the pound exchange rate is almost always strong, which is noticeable in the high rate for trading GBP/INR.

Role Of The Pound

The GBP is the fourth-most traded currency traded in the forex market, after the USD, EUR and JPY. It is the oldest actively traded currency on the forex market and, as of mid-2021, the GBP is the fifth-most held currency in global reserves.

The Indian Economy

India’s diversified economy experienced rapid growth in recent years thanks to its services and farming industries, the latter of which over half of India’s workers rely on. India is the sixth-largest global economy, directly after the UK in fifth, so trading GBP/INR does involve some big players. It also has one of the largest populations among nations, with more than 1 billion inhabitants. Since the 1990s, India’s economy has been quite liberal, which has helped to boost economic growth over the last 20 years.

Despite the disruption caused by the global COVID-19 pandemic, India’s economy has remained relatively secure. Before the pandemic, India was the fifth-largest in terms of GDP output in the world. Its rate of growth was the largest of any major economy between 2014 and 2018. However, in 2020 it dropped one spot with the UK moving ahead. Growth is expected to return gradually with the UN raising its forecast to 7.5% for 2021.

India is a cash-based economy, facilitating fake currency circulation by those engaged in criminal activities. The Reserve Bank of India (RBI) often updates rupee notes to enhance security and prevent fraud. However, widespread corruption, inflexible business regulation and ongoing poverty are factors that prohibit India’s economy from expanding even further and may limit the impacts on trading GBP/INR.

Role Of The Rupee

The Indian rupee (INR) is legal tender for the 1.3 billion people living in India. The rupee has experienced a decline against major currencies like the GBP, USD and EUR over recent decades, as a result of market forces.

Factors Affecting GBP/INR Price

Many factors can cause a shift in the GBP to INR daily chart and weekly forecasts. These include:

Other things to consider include investment flows, trade flows and oil prices.

Day Trading GBP/INR Strategy

Trading Hours

Knowing when to begin trading GBP/INR is vital for achieving decent profit margins. The National Stock Exchange of India’s (NSE) trading hours are between 09:00 and 17:00 India Standard Time (IST). In the UK, this corresponds to 03:30 – 11:30 GMT.

Trading GBP/INR will be most liquid during the crossover of these hours and the opening times of the London Stock Exchange (LSE), which are 07:00 – 16:00 GMT. During these times, trading volume will be greater, slippage will be reduced and spreads will be tighter.

Brokers

Not all brokers will facilitate trading GBP/INR or INR/GBP, so investors should verify that their broker of choice offers it before opening an account. More and more large brokers are offering the GBP/INR pair along with a range of powerful technical analysis tools, charts, indicators and automated trading features. Some providers may also offer conversion services for GBP to INR and vice versa.

Data & Forecasting

Many traders focus on analysing current forex data to inform their positions. Monitoring a GBP vs INR live chart is key when opening and closing positions and executing trades. However, investors can also benefit from analysing historical information, including year-long graphs or the trend over the last five years. Maximising the use of as much financial data as is available is vital to making strong value predictions. Charts and other useful information for trading GBP/INR and INR/GBP can be found online on websites like TradingView.

Trade

Typically, currency demand is influenced by international trade. If a country exports more than it imports, the demand for goods is higher and, consequently, the same goes for its currency. When demand is high, prices rise and the currency appreciates.

There have been many decades of successful trade between the UK and India, which can be useful information when trading GBP/INR. However, total trade in goods and services (imports and exports) between the UK and India declined by 21.5% in the year preceding Q2 2021. India was also the UK’s 15th-largest trading partner for the same period.

In this post-Brexit period, the UK needs to renegotiate trade agreements individually with many partners. In May 2021, the UK announced a £1 billion trade deal with India and a commitment to negotiate a free trade agreement. Trade between the UK and India was around £23 billion in 2019, which both countries hope to double by 2030.

Following the volume of exports will help investors trading GBP/INR predict whether the pound will strengthen against the rupee, or vice versa.

Linked Currency Pairs

Those forex investors considering trading GBP/INR may want to refer to previous data like an exchange rate history chart or long-term forecasts to inform their trading strategy. Another way of generating a GBP to INR prediction for 2021 and beyond is to consider the effect of correlated currency pairs. These are currencies whose price changes are often in line with each other.

Correlation is a statistical measure of how two variables relate to each other. Positively correlated currency pairs will display movement in the same direction, whereas negatively correlated currencies move in opposite directions.

However, correlations do not always stay stable and can change thanks to economic and political factors.

GBP/INR Forecast

When trading GBP/INR, it is vital that a trader keeps on top of future trends and predictions for tomorrow. Traders should note that a single technical analysis is often not enough to build a thorough GBP/INR forecast. Traders can look at GBR/INR weekly charts and also benefit from looking at the latest news to see how the currency pair is performing today versus yesterday and further in the past.

Most trading platforms have various types of live forex charts available for viewing and analysis. Daily or weekly candlestick charts are handy tools often used by those trading GBP/INR. Historical price charts are also provided by most top brokers, giving traders access to yesterday’s price as well as future exchange rate forecasts.

The GBP to INR reached its highest rate ever in April 2021, amounting to 105.17 INR.

Final Word On Trading GBP/INR

Trading on the exotic currency pair GBP/INR is popular amongst day traders. The GBP remains historically strong against the INR but, as a highly volatile pair, this is always subject to change. Numerous economic factors can influence the GBP and the INR but knowing what data to use to make forecasts and predictions will be a trader’s biggest challenge with this pair. Before you start trading, make sure you’re keyed up on the various influencing dynamics that can affect trading GBP/INR. Strong technical analysis tools and skills, alongside an awareness of current news events, will put you in the best place to begin trading this pair.

FAQs

How Do I Start Trading GBP/INR?

In order to start forex trading GBP/INR, investors should find a broker with a strong exotic pair offering. Before setting up an account with a broker, check that the pair is available but also compare spreads and commission fees, as well as the important technical analysis tools on offer.

What Is The Highest Ever GBP To INR?

Trading GBP/INR reached its all-time high in April 2021 at 105.17 INR.

Why Is GBP Stronger Than INR?

Today, the Indian rupee’s value is lower than the GBP and this has historically been the case. However, many factors influence the exchange rate and the performance of the British and Indian economies in the post-Brexit and COVID landscape could see a reversal in the overarching historical trend.

What Factors Are Affecting The GBP/INR Rate?

Various factors should be considered when trading GBP/INR. Keeping on top of the latest news is always key. Economic developments play an important role as well as political events, such as Brexit. The COVID-19 pandemic currently remains at the forefront of events impacting the UK and Indian economies as it continues to disrupt daily life across the world.

Will The GBR/INR Get Stronger In 2022?

India relies on a variety of industries and commodities, meaning it has significant growth potential. Forecasts indicate that the GBP/INR could see a change. As stronger currencies weaken, a short-term spike could appear in emerging markets like India, which would present a good opportunity for traders to take advantage of trading GBP/INR. Keep an eye on forecasts and charts online to make sure you’re clued up.