Here, the progress is solely dependent upon the currency that is valid in the respective city, where one has undertaken the project of business or for any other purpose of pleasure - travel, research or exploration.
The most crucial aspect that matter here most is to have the currency that is valid in the visited city, otherwise, you will be unable to execute any of your undertaken project. If you are also traveling in the same boat, then go through the present article and acquaint yourself with the professional assistance available - to convert your currency into any other currency - valid into the country. The present article exclusively throws light on, how the exchange rate of GBP to INR has varied over the years.
British Pound to Indian Rupee
The British Pound to Indian Rupee has shown marked variation that exists in one form or another. For example, on 2nd January 2018; British Pound to Indian Rupee carries the value as, 1GBP = 86.1791 INR. Similarly, on Tuesday, 18th December 2018; carries the value as, 1GBP = 89.2482 INR.
In the Indian context, when India was under the rule of British, 1 rupee = 1 shilling. And in 1947, 1 Pound = 13 INR - and in 1952, when the Indian constitution came into existence, the figures were as such; 1USD = 4.16 INR.
Reasons for change in Rupee value
The following are some of the reasons, due to which the value of rupee changes against British Pound, at one time or another.
- In the year 1947, India faced two consecutive financial crises due to which the devaluation of money took place.
- In 1966, the foreign aid helps in putting the check on the devaluation of money.
- In 1989, the Indian rupee goes to all time low - which is up to 3 British Pence - and in 1999, the Indian rupee devalued at considerable level.
- The Indian rupee also faced several issues at one time or another, namely, Jammu and Kashmir issue, Hyderabad issue, Burma issue, Indo-French issue, Indo-Portuguese issue, Persian Golf issue, Emergency issue, Princely states - affecting the Indian rupee in one way or another.
Important factors for change in money value
The term that we can associate with the money is that, money is not any creature, which can be defined as organic. The value of money changes and there are various factors associated with it, like economic factor, agriculture factor, political factor, geographical location, changing natural pattern, and soil structure and type, and water resources - whether they are preserved or depleting from time to time.
There is an illustration in this regard, like there is good rainfall during the monsoon season, then there will be the bumper harvest, due to which their will good increase in export and in turn gain in foreign exchange - and the economic condition of the country reaches at the all-time high. Similarly, if there is a stable government in the country, then too, nation flourishes at every department and the overall economy of the country is boosted - providing resourcefulness with healthy ecological balance, giving stupendous height to the overall growth and development.