The Indian rupee is the currency for India and Pound is the currency for, United Kingdom Isle of Man, and Channel Islands. Pound Sterling is also known as the British Pound, the Pound of United Kingdom (UKP), the England Pound, Pound Sterling, and great Sterling. The symbol for pound is denoted as £. The Indian Rupee is divided into 100 paisa and 100 pence makes one Pound Sterling. One pound is equal to 72 Rs. (This figure tends to change according to the market.) The pound has a greater denomination in comparison to other currencies. The highest currency in the market is of Vietnamese Dong having the highest value which is 402 INR. During the time of recession the value of the pound had fallen but gradually with time it rose back. Now there are various other currencies also in the market which are having a very high denomination. Such as EURO, DINAR, CANADIAN DOLLAR etc.
There are various ways for conversion of pounds to rupees. Some of which are: 1- Through banks: Many of the banks provide the service of converting the pounds into rupees but on a nominal rate of exchange. The banks change the currency on the given rate of conversion. This facility is mostly available in the MNC banks. 2-Through money exchange: Money exchange desk can also help in the exchange of currency. The charges of the money exchange for conversion of pounds to rupees and other exchanges are very high. It is not a safe and secure way for transaction. 3-Through ATM’s: There is no need to convert the currency, an individual can go to an ATM Machine and withdraw the amount on a nominal fee charge. The main requirement for is to have an international debit card so that it can be used to get rupees to pound and pounds to rupees.
These website can give us complete and full information regarding the current exchange rates and also what are the fees and taxes which will be levied on exchange. Having the complete knowledge about the exchange rates can help an individual while going for a currency exchange. The stock market keeps a vigil check on the increasing and decreasing rate of the currencies. The increase and decrease of the currencies depends upon the inflation rate and also on the GDP (gross domestic product.) The rates of the currencies determine the import and export of any nation.