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GBP to INR: Convert British Pound Sterling to Indian Rupee


Result
GBP 1 = INR 103.40
INR 1 = GBP 0.01
Amount
To

GBP to INR Exchange Rate History

  • June 2021 Currency Exchange : GBP to INR
    1 st June Rate 103.23 INR
    30th June Rate 102.88 INR
    Highest rate in June 103.58 INR on June 24
    Lowest Rate in June 102.40 INR on June 19
    Over all performance Falling
    % Change -0.34%

Convert GBP to Other World Currencies

What is Foreign Exchange Rate?

The term foreign exchange rate refers to the rate at which the price of the domestic currency is stated in terms of another country's currency.

Here, the foreign exchange rate compares one countries currency with another nation's currency to show their relative value.

All the standardized currencies across the globe float in value with their demand, supply, change in their values over time, consumer confidence and so on.

For Example: Way back in 2011, the value of the 1 U.S. dollar was worth at around Rs 48. But in 2022, the value of 1U.S.$ is equivalent to around Rs 73. Over 10 years, the value of the U.S. currency has surged.

Meaning of Foreign Exchange Rate

The concept of globalization has spread deeply across most of the nations in today’s era and hence most of the companies are diversifying their scale of operations from the county of origin to other countries spread across the globe gradually. The change in the currency rate will affect different markets investing power drastically.

Most of the multi-national companies use typically one reporting currency to prepare their financial statements. For Example, A U.S. based company has to prepare financial statements like balance sheet, income statement along other related reports in terms of the United States of America dollar.

Some of the companies do generate multiple financial statements converted in different currencies for investors who are spread across the globe.

For instance: The usage of the foreign exchange rate will help to record some of the business events between multi-national business houses. One U.K. based manufacturer might award a contract for some of its work to a company based out in Japan that sells goods in Yen. Since the U.K. based company cannot report the purchases made in terms of Yen, it has to convert the purchases price from Japanese Yen to U.K. Pound Sterling to enter relevant entries into the accounting system.

The foreign exchange rate also has its share of cons. What will happen if a U.S. based company signs a contract to purchase goods in terms of the U.K. Pound, but before the payment is issued, the U.S. dollar value falls compared to the Pound? Then the U.S. based company will have to shell out more for the goods. Hence hedges play an important role when dealing with different country’s currencies.  

Disclaimer: The currency rates are sourced from reliable sources. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell or act based on the rates given. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on currency rates provided.

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