ForexMedium•28 September 2026•
1 min read
Pound Surges Past 127 Against Indian Rupee as Oil Prices Pressure INR
Key Facts
1The GBP/INR exchange rate climbed above 127, reaching approximately 127.19 during the September 28 session.
2The British pound strengthened as market bets increased on a Bank of England interest rate hike.
3The Indian rupee weakened as Brent crude oil prices rose above $107 per barrel.
The British pound exchange rate against the Indian rupee climbed above the 127 level to reach 127.19 during the September 28, 2026, session. InvestingCube reported that the pound strengthened as market participants increased bets on a Bank of England interest rate hike, while the Indian rupee faced significant downward pressure.
The Indian currency weakened as Brent crude oil prices rose above $107 per barrel, increasing import costs for the Indian economy. According to InvestingCube, the GBP/INR pair rose from an early session low of 126.70, supported by markets pricing in an 85% probability of a Bank of England rate hike in November.