HMRC monthly rates
Bank of England INR/GBP spot rate, 17 May 2022
96.65931
INR per £1 · divide by this rate for sterling · Indian Rupee, India
- 1 INR in sterling
- £0.0103
- Fixing
- 4pm, Tue 17 May
- vs 16 May 2022
- +1.3096 (+1.37%)
17 May among May’s fixings and HMRC’s monthly rate
On 17 May the two were 2.7594 apart.
What HMRC says
HMRC asks for each amount to be converted at the exchange rate in force on its date (Capital Gains Manual CG78310). It doesn't prescribe a source, but expects a reasonable and consistent method: one method for every figure, kept from one disposal and tax year to the next.
Other Bank of England rates for 17 May 2022
All 26 currencies →- USD US Dollar 1.2470
- EUR Euro 1.1837
- CHF Swiss Franc 1.2381
- AED UAE Dirham 4.5796†
- AUD Australian Dollar 1.7804
- CAD Canadian Dollar 1.6019
- JPY Japanese Yen 161.2246
- HKD Hong Kong Dollar 9.7886
- SGD Singapore Dollar 1.7282
- NZD New Zealand Dollar 1.9663
- NOK Norwegian Krone 12.0918
- SEK Swedish Krona 12.3925
- DKK Danish Krone 8.8078
- PLN Polish Zloty 5.5118
- CZK Czech Koruna 29.2545
- HUF Hungarian Forint 457.6200
Use these rates in your AI assistant.
Your assistant converts every figure of a disposal at the rate for its own date, and cites each source.
Frequently asked questions
What is the Bank of England INR/GBP rate for 17 May 2022?
The Bank of England daily spot exchange rate for Indian Rupee (INR) on 17 May 2022 is 96.6593 INR per £1. To convert a INR amount to sterling, divide by 96.6593.
Can I use the Bank of England spot rate for capital gains tax?
HMRC's Capital Gains Manual (CG78310) says to convert each amount at the exchange rate in force on the date of the transaction, and expects a reasonable and consistent method; it doesn't name a source. The Bank of England daily spot rate is the fixing for that date, so it matches the guidance directly. Use it for every figure in the computation (the cost, buying and selling costs, and the proceeds) and keep the same method for later disposals and tax years.
What is the difference between the BoE spot rate and the HMRC monthly rate?
The Bank of England daily spot rate is the mid-market rate recorded at 4pm on a specific date. The HMRC monthly rate is one rate that HMRC sets for the whole calendar month and publishes in advance. Because they are measured differently they can differ, and on a large disposal the gap can change the sterling gain by thousands of pounds. That is why the method should be chosen once and applied consistently, not picked disposal by disposal.
What if my transaction was on a weekend or bank holiday?
The Bank of England only fixes rates on UK working days. For a weekend or bank holiday, the usual approach is the nearest earlier fixing. TealFX applies it only within 7 days and says so whenever it does; the API can also refuse a substitute date (fallback=none).
Where does the Bank of England publish exchange rates?
The Bank of England publishes daily spot rates through its statistical database at bankofengland.co.uk. TealFX imports them from that database, so the figures on this page match the Bank's published data. The Bank states these spot rates are not official rates.