Indian Rupee on the Back-Foot Against the British Pound

Suraj E. Sudhakar, Akshika Jain and K.P. Nitha

World Economics, 2020, vol. 21, issue 2, 351-364

Abstract: In foreign exchange (forex) markets the Indian rupee has fallen against the British pound over a long period, for various reasons. India is the fastest-growing large economy in the world, with a rising middle class that makes it increasingly attractive to British exporters. So, the UK–India trade relationship influences currency movements. This study focuses on the impact of the UK–India trade relationship, other macroeconomic variables such as foreign direct investment (outflow and inflow), real interest rates, gross domestic product, foreign exchange reserves and how the external debts of India affect the rupee. Investors, arbitrageurs, traders, exporters and importers in the forex market like to know the impact of the most significant macroeconomic variables on currency.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:wej:wldecn:799

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