𝐆𝐁𝐏 𝐭𝐨 𝐈𝐍𝐑: British Pounds To India Rupees Conversion

Currency conversion is an important task that finds relevance, especially when one travels to another country. The currency conversion also finds its significance in the arrays of import and export businesses, where it is utilised to compute the selling and to buy profits of products and services. Forex traders who forecast rate valuations in real-time also widely assess currency conversions. This piece dives into the currency conversion rates of the UK currency to Indian Rupees, i.e. GBR To INR.

Overview of GBP(British Pound)

The GBP is an abbreviation for the Great Pound Sterling, which is the official currency of the United Kingdom and the territories of South Georgia, the South Sandwich Islands, the Channel Islands, the Isle of  Man and the British Antarctic territories. It features an elite list of currencies that traders meticulously follow. The GBP is represented with the ‘(£)’ symbol and boasts one of the highest trading volumes in the world.

History of GBP(British Pound)

The British pound has been an acceptable currency to perform transactions since 706. Post the unison of England and Scotland in 1707, the GBP was established as the official currency of the newly formed United Kingdom. The currency was also employed as the official legal tender in British colonies to facilitate transactions in Canada, New Zealand, and Australia. In 2002, the United Kingdom decided to sustain the GBP as their official currency and chose not to adopt ‘Euro’ despite being a member of the European Union. In 2016, the GBP experienced severe volatility when the United Kingdom opted out of the European Union through a referendum. 

Overview of INR(Indian Rupee)

The Indian Rupee is the official currency of India. The Reserve Bank of India, the country’s central bank, regulates the INR. Named after the ‘rupiya’, a silver coin whose issuance dates back to the 16th Century. Over the years, the RBI has consistently upgraded and included new security features to counter counterfeit currency. In 2016, the government even demonetised notes valuing Rs 500 and Rs 1,000 to curb the underground economy. 

History of INR(Indian Rupee)

The Indian currency was predominantly regulated by the Britishers during colonisation. Post Independence, the Indian currency, was frozen until January 26, 1950, when India established their constitution. 

The country instituted the decimal currency scheme where 100 paise culminated into a single rupee. Post Independence, there have been three instances where the Indian Rupee devalued. The first devaluation took place in 1949, the second in 1966 and the third and final devaluation in 1991, sowing the seeds to reform the Indian economy.

GBP to INR Forecast

The following table showcases the GBP to INR forecast for the next six months for the financial year 2022-23. 

Process to Convert GBP to Indian Rupee

The GBP to INR process can be conveniently facilitated by accounting the values of the UK currency to Indian rupees. One should refer to the current conversion rates to compute the value of the INR. In simpler terms, an individual is inclined to find the INR value of  £10 or is required to multiply the current rate by ten. Refer to the following examples for a better understanding. 

Examples of GBP to INR Conversion

Here are some examples of how to convert GBP to INR.

Example 1: Convert 76 GBP to INR

Solution: After placing the value of GBP into the formula, the result will be

INR = 76 X 100.49 = 7637.24 INR

Therefore, 76 GBP is equal to 7637.24 INR.

Example 2: Convert 50 GBP to INR

Solution: After placing the value of GBP into the formula above, the result will be

INR = 50 X 100.49 = 5,024.5 INR

Therefore, 50 GBP is equal to 5,024.5 INR.

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Example 3: Convert 100 GBP to INR

Solution: After placing the value of GBP into the formula above, the result will be

INR = 100 X 100.49 = 10,049 INR

Therefore, 100 GBP is equal to 10,049 INR.

Example 4: Convert 1 GBP to INR

Solution: After placing the value of GBP into the formula above, the result will be

INR = 1 X 100.49 = 100.49 INR

Therefore, 1 GBP is equal to 100.49 INR.

Example 5: Convert 20 GBP to INR

Solution: After placing the value of GBP into the formula above, the result will be

INR = 20 X 100.49 = 2,009.8 INR

Therefore, 20 GBP is equal to 2,009.8 INR.

GBP Vs Indian Rupees: What is the Difference?

Given below are some of the key differences between GBP and INR.

GBP to INR Conversion Chart

Given below is the detailed conversion chart of GBP to INR.