USD INR ₹ 83.35
GBP INR ₹ 106.03
CAD INR ₹ 60.79
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GBP to INR 2023 Forecast

Updated on December 07, 2022 12:10 pm
gbp to inr

As with any other currency pair, the GBP to INR exchange rate fluctuates based on supply and demand on the international market.

Inflation rates, interest rates, imports and exports, the political climate, and economic conditions are a few of the key factors that affect the fluctuation of currency values.

Rate Increase by the Bank of England is Viewed as Dovish

Even though the Bank of England is expected to raise interest rates by 75 basis points, which would be the biggest increase since 1989, economists predict that policymakers will take a more dovish stance in the future as the likelihood of a recession rises. 

As U.K. inflation reached a 40-year high of 10.1% in September this year, the Bank is anticipated to increase its main lending rate for the 8th time in a row. However, slower growth momentum and a significant change in fiscal policy are expected to limit calls for further aggressive monetary tightening. 

The new prime minister, Rishi Sunak, dropped the controversial tax cuts at the centre of his predecessor Liz Truss' fiscal policy plan, so there is no longer a conflict between monetary and fiscal policy.

The government's U-turns, which reduced market turbulence, mean that the Monetary Policy Committee (MPC) of the Bank won't have to counter the additional inflationary impact of government policy as it considers the possibility of future weaker growth.

In light of what is likely to be a less generous household and business energy cost assistance scheme under Sunak, Goldman Sachs economists on Monday downgraded their 2023 U.K. growth predictions from an annual rate of -1% to -1.4%.

Following Liz Truss' dismal fiscal policy statements in late September, the pound hit a record low versus the dollar. However, with Sunak's appointment and his decision to keep the more moderate Finance Minister Jeremy Hunt, the pound has since recovered somewhat.

Sending Money Overseas 

When sending money to a foreign country, you need to take the current exchange rate into consideration. Take, for instance, the case of sending money from the UK to India. When you send money to India at a time when the exchange rate is favourable, the amount of money that your recipient receives will be higher.

Today’s GBP to INR exchange rate (as of November 27, 2022) is 98.7572 INR per 1 pound as per Pound Forecast.

GBP to INR 2023 Forecast 

Monthly GBP to INR Forecast 2023 

Month

Open

Min-Max in INR

Close

Averaged

January 

1 GBP/102.05 INR

102.05-106.69

1GBP/105.11 INR

103.98

February

1 GBP/105.11 INR

101.99-105.11

1 GBP/103.54 INR

103.94

March

1 GBP/103.54 INR

98.92-103.54

1 GBP/100.43 INR

101.61

April

1 GBP/101.09 INR

99.43-102.45

1 GBP/100.94 INR

100.81

May

1 GBP/92.09 INR

97.53-100.94

1 GBP/99.02 INR

99.61

June

1 GBP/99.02 INR

99.02-102.42

1 GBP/100.91 INR

100.34

July

1 GBP/100.91 INR

96.41-100.91

1 GBP/97.88 INR

99.03

August

1 GBP/97.88 INR

94.93-97.88

1 GBP/96.38 INR

96.77

September

1 GBP/96.38 INR

95.97-98.89

1 GBP/97.43 INR

97.17

October 

1 GBP/97.43 INR

95.49-98.39

1 GBP/96.94 INR

97.06

November

1 GBP/96.94 INR

96.18-99.10

1 GBP/97.64 INR

97.47

December

1 GBP/97.64 INR

93.84-97.64

1 GBP/95.27 INR

96.10

Source: Pound Forecast

Even though you can send money through your banks, this is not the best option for sending money abroad. The good news is that the market is flooded with companies specialising in money transfers.

PassTo is one such company that offers money transfer services from the UK to several countries and could be your best option for transferring money from GBP to INR. 

It is a London-based money transfer app that was introduced in late 2019 to offer simple, affordable money transfer services that save time, effort, and money. It primarily targets expats living in the UK.

Reasons to Choose PassTo

PassTo has a lot to offer when it comes to transferring money:

  • Easy Sign-up process
  • Send money to friends and family in over 60 countries worldwide, and expanding
  • Get the best exchange rates
  • Transfer money with no hidden fees 
  • Get discounted pricing for new users
  • Free First 2 transfers  
  • FCA regulated secure platform
  • Get your money transferred in just a few minutes or same day/next business day
  • Send Airtime Top-ups to 150+ countries in real-time
  • Send up to £2,000 per day
  • Earn money using PassTo Rewards Program
  • Multiple payments and delivery methods
  • 24/7 customer service via email, phone, or in-App chat
  • Trust score 4.6/5 stars on TrustPilot

PassTo Features

  • Transparent Pricing and Competitive Exchange Rates

PassTo fees are always shown upfront before you make your transfers. Do note that the fees will vary based on the destination country, the payment method, and the delivery method.

PassTo uses an in-house algorithm that compares the exchange rates on behalf of its customers to provide the best exchange rates when sending money abroad. 

Even though there are several variables that affect the rates, you'll be able to view the best rates for the currency corridor you've chosen so that you can estimate how much money your recipient will receive.

  • Faster Transfer 

PassTo can deliver your money in as little as a few minutes, making it one of the fastest transfer services available. For some countries, it can show up the same business day or the day after.

  • Higher Sending Limits

You can typically send up to £2,000 per day, £10,000 per month, and £50,000 annually. However, the limits will vary from country to country.

  • Multiple Payment Options 

You can fund your transfers using debit cards, bank transfers, and credit cards.

  • Multiple Delivery Methods

Transfer money to bank accounts, mobile wallets, Cash Pickup agents, and airtime top-ups. 

  • PassTo Rewards Program

Refer your 3 friends to PassTo and earn a £50 gift when they make their first transfer of at least £200 each. Your friends will also get a £5 gift each. You can visit their website to learn more about their rewards program.

How Do I Transfer Money Using PassTo?

Here is a step-by-step guide to transferring money using PassTo:

  • Download the PassTo app from the App Store or Google Play Store or visit their website
  • Sign Up & create an account 
  • Verify your account 
  • Set up your preferred payment method 
  • Enter details about your recipient 
  • Verify the transfer details 
  • Press Send!
  • Track your transfer in the app itself

By using PassTo, you can send money internationally with transparent fees, the best exchange rates, and a platform that is both safe and simple to use. Use PassTo to send money from the UK to India today!

To compare all exchange rates, fees, and transfer speeds, use our online comparison tool for GBP to INR here.

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Be sure to bring a valid photo ID, such as a driver's license or passport, with you.The following IDs are accepted at Walmart:U.S. Driver's License, including Puerto RicoState ID, including Puerto RicoUnited States PassportInternational PassportMilitary IDU.S. Permanent Resident CardTribal IDMexican Matricula ConsularStep 2: Locate the Service DeskOnce inside the store, make your way to the Walmart Money Services Counter or the Customer Service Desk. Inform the store associate that you want to use Walmart2Walmart to send money. This is where you'll find the necessary forms and assistance to complete the transaction.Step 3: Provide Necessary InformationYou'll need to provide the following information to the Walmart associate:Your name and contact information.The recipient's name and contact information.The amount you wish to send.The location of the Walmart store where the recipient will pick up the money.Step 4: Pay for the TransferAfter providing the required information, you'll need to pay for the money transfer, including the service fee. Walmart offers transparent pricing, so you'll know the exact cost upfront. You can pay for your transfer with cash in US Dollars, or with a debit card or credit card.Step 5: Receive a Reference NumberOnce the transaction is complete, you'll receive a reference number. Be sure to keep this number safe, as the recipient needs to pick up the money.Step 6: Share the Reference Number with the RecipientShare the reference number and transfer details with the recipient, as they will need this information to collect the funds.Step 7: Confirm ReceiptOnce the recipient has picked up the money, you should confirm with them that the transfer is complete.That's it! You've successfully sent money using Walmart to Walmart.The money will be transferred to your recipient as early as 10 minutes for pickup if everything goes smoothly.If you are visiting the store for shopping and other needs, using the money transfer services while you are at the store can be a convenient option.How to Send Money Online Using the Walmart2Walmart?You can either use the Walmart2Walmart app or Ria's website to send money online.Create a new account or use your existing Ria credentials to log into the Walmart2Walmart mobile app.Add the recipient's full name, country, and state. 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As per the Walmart return policy, the money transferred is returned to the sender if the money is not collected within the 60-day limit.If the sender opts to send money to your bank account or mobile wallet, you just have to wait for the money to get deposited.How to Track Your Walmart2Walmart Money Transfer?There are several ways to track your Walmart2Walmart money transfer:Track at your local Walmart MoneyCenter. The associate can track with the help of the sender's tracking number or order number.Track through the Walmart2Walmart mobile app using the tracking number. Click the Track link at the bottom of the screen to see the status of your transfer.Online at the Ria "Track a Transfer" section using the tracking numberCall the Ria customer support team (1-855-355-2144 or 1-877-443-1399)Send an email to [email protected] Money With MoneyGram and Western Union Through WalmartWalmart has also partnered with money transfer incumbents such as MoneyGram and Western Union to make money transfer more convenient both domestically and internationally.MoneyGramYou can send money from a Walmart store for cash pickup safely at a MoneyGram location anywhere in the US and Puerto Rico. MoneyGram also offers international money transfers through Walmart. The money you send with Walmart can be collected at any MoneyGram location across 200 countries worldwide. You also have to option to transfer via a bank account deposit, mobile wallet, and card payments where available.You can also pick up or receive money sent from any Western Union, Ria, or Moneygram agent location within the U.S. by going to your local Walmart with the reference or MTCN number provided by the sender.Western UnionSend money from a Walmart store for pickup at one of hundreds of thousands of Western Union agent locations throughout the US and Puerto Rico. The money is typically available within minutes for collection. For international money transfers, visit any Walmart store for cash pickup at a Western Union agent location in over 200 countries. The money can also be deposited to a bank account, cards, and mobile wallets (availability of delivery options can vary by destination country).Benefits of Using Walmart to Walmart Money TransferWalmart2Walmart offers seamless domestic money transfers within the US, Puerto Rico, and Mexico with the following benefits:Simplicity: Whether you visit a store or use the Walmart2Walmart mobile app, sending money is effortlessly straightforward.Speed: Transactions through Walmart to Walmart are typically processed quickly, allowing your recipient to access the funds promptly.Convenience: With over 4,500 Walmart locations across the US, finding a location to send or receive money is relatively easy.Widespread Access: Recipients can collect funds at over 4,500 Walmart branches in the US and Puerto Rico or over 2,500 Bodega Aurrera and Walmart locations in Mexico, ensuring easy access to their money.Security: Walmart2Walmart, powered by Ria, boasts a strong track record in domestic and international money transfers, guaranteeing the safety of your funds and personal informationLow Cost: Walmart offers competitive pricing for its money transfer service, making it an affordable choice for most customers.Tips for a Smooth Walmart-to-Walmart Money TransferTo ensure a seamless experience when using the Walmart to Walmart money transfer service, consider the following tips:Double-Check Information: Ensure all the details you provide, such as recipient information and the destination Walmart store, are accurate.Understand Fees: Familiarize yourself with the service fees associated with your chosen transfer option (Ria, Western Union, or MoneyGram).Keep Receipts: Retain all transaction receipts, including the reference number, until you confirm that the recipient has received the funds.Plan Ahead: Keep in mind that transactions may take a little time, so plan accordingly, especially if the recipient needs the funds urgently.Use Secure Channels: Only share the reference number with the intended recipient and ensure they are aware of the importance of keeping it confidential.Ask for Assistance: If you have any questions or encounter issues during the process, don't hesitate to ask Walmart associates for assistance. They are trained to help you with money transfers.Frequently Asked QuestionsCan you do a Walmart-to-Walmart money transfer online?Yes, you can send money through Walmart to Walmart online using their official website or mobile app.How does Walmart to Walmart money transfer work?Walmart to Walmart money transfer is a service that allows you to send money to someone domestically within the U.S., Puerto Rico, or Mexico. You can initiate the transfer by visiting a store and using their Money Services Center, or you can do it online through the Walmart2Walmart website or mobile app. You provide the recipient's name, location, and the amount you wish to send. The recipient can then pick up the funds at a Walmart store or participating location.How much is Walmart to Walmart money transfer?The fees for Walmart-to-Walmart money transfers vary depending on the amount you're sending. Fees start at $4 for up to $50 transfer, $8 for transfers of $51-1,000, and range up to $16 for $1,000 to $2,500 transfers.How to track Walmart to Walmart money transfers?To track a Walmart-to-Walmart money transfer, you can typically use the reference number or order number provided during the transaction. You can inquire about the transfer's status at the store where you initiated the transfer or contact Walmart's customer service for assistance.Can I cancel a Walmart-to-Walmart money transfer?It is possible to cancel a Walmart-to-Walmart money transfer, but the process and eligibility for cancellation may vary depending on the specific circumstances and Walmart's policies. You should contact Walmart's customer service or visit the store where you initiated the transfer as soon as possible to inquire about cancellation options.Is Walmart to Walmart safe?Walmart-to-Walmart money transfers are generally considered safe and secure. The service is powered by Ria, a well-established money transfer company with a strong reputation. However, it's essential to follow best practices for online and in-person money transfers, such as safeguarding your transaction details and only sending money to trusted recipients.ConclusionWhether you're helping out a friend, sending funds to a family member, or taking care of financial obligations, these services offer speed, reliability, and security. By following the simple steps outlined in this guide and considering the tips provided, you can make the most of these options for your money transfer needs. Remember, when it comes to transferring money, convenience and peace of mind are key, and Walmart's partnerships with these trusted providers deliver just that.There are numerous ways to send money internationally. We recommend taking a look at other options at your disposal as well.To find the best exchange rates, lowest fees, and fastest turnaround times for sending money online, check out CompareRemit's online money transfer comparison tool to choose a trusted remittance provider for your transaction today!

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