HMRC INR/GBP monthly exchange rate, June 2024

The HMRC monthly exchange rate for Rupee (INR) in June 2024 was 105.8672 INR per £1. To convert a INR amount to sterling, divide by 105.8672. For example, INR 100,000 ÷ 105.8672 = £945.

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. HMRC doesn't prescribe a source, but expects a reasonable and consistent method. The Bank of England daily spot rate matches the transaction date most directly, and HMRC's monthly exchange rates are also widely used. Choose one method, apply it to every figure, and keep it for later disposals and tax years.

HMRC's guidance doesn't name a rate source: it asks for the rate in force on the date of each transaction, using a reasonable and consistent method (CG78310). HMRC's monthly exchange rates are widely used for this. If you use them, use them for every figure in the computation (the cost, buying and selling costs, and the proceeds) and keep the same method for later disposals. On a large disposal, confirm the method with your accountant.

The HMRC monthly rate is one rate that HMRC sets for the whole calendar month and publishes in advance. The Bank of England spot rate is the 4pm fixing on the specific transaction date. 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.

HMRC publishes its monthly exchange rates on the Trade Tariff Service (trade-tariff.service.gov.uk), usually on the penultimate Thursday of the month before they apply. TealFX imports them directly, so the figures on this page match HMRC's published data.