Exchange rates can be very variable and it is always best to check online for the most accurate rates, in July 2011 one million UK pounds was worth approximately 72 million rupees.
The British pound, often referred to as pounds sterling has traditionally been a strong currency and one that people will be confident to have their money invested in. Since the turn of the century, however, and thanks to many technological developments, not least of which being the Internet and communications in general, the Indian rupee has grown strongly in value.
This is down to the growth in international markets with India's massive young population proving very attractive to investors. With English as its main language, India has great contacts throughout the world, especially with the UK, USA and Australia.
With the growth in the Indian economy, more investment follows, with the transport and communication infrastructures improving year by year India is no longer seen as a backward or difficult country to do business with. All these factors have a knock on effect on exchange rates which in reality are a guide to comparing the attractiveness of the respective currencies.
With India increasingly seen as an attractive country to invest in, the demand for rupees increases, this will result in the exchange rate lowering- effectively giving you less rupees for the pounds that you wish to exchange. Currency exchange markets are a 24/7 business. There is always demand for changing currencies worldwide.
Different exchange rates are widely quoted with business rates being slightly different to tourist rates, this is due to the multiples involved with tourist rates tending to be slightly less attractive than business rates. It is also important to factor in commissions when changing currencies, some companies will charge a percentage with others charging a flat fee.
The British pound, often referred to as pounds sterling has traditionally been a strong currency and one that people will be confident to have their money invested in. Since the turn of the century, however, and thanks to many technological developments, not least of which being the Internet and communications in general, the Indian rupee has grown strongly in value.
This is down to the growth in international markets with India's massive young population proving very attractive to investors. With English as its main language, India has great contacts throughout the world, especially with the UK, USA and Australia.
With the growth in the Indian economy, more investment follows, with the transport and communication infrastructures improving year by year India is no longer seen as a backward or difficult country to do business with. All these factors have a knock on effect on exchange rates which in reality are a guide to comparing the attractiveness of the respective currencies.
With India increasingly seen as an attractive country to invest in, the demand for rupees increases, this will result in the exchange rate lowering- effectively giving you less rupees for the pounds that you wish to exchange. Currency exchange markets are a 24/7 business. There is always demand for changing currencies worldwide.
Different exchange rates are widely quoted with business rates being slightly different to tourist rates, this is due to the multiples involved with tourist rates tending to be slightly less attractive than business rates. It is also important to factor in commissions when changing currencies, some companies will charge a percentage with others charging a flat fee.
