London overtakes Mumbai in rupee trading with $46.8 bn daily volume

London has overtaken Mumbai to become the top centre for trading the Indian rupee, according to the Bank for International Settlements. The average daily volume for the rupee in the UK jumped 430% to $46.8 billion in April 2019 from $8.8 billion in 2016. In contrast, the average daily volume of rupee trading in India was $34.49 billion.