Canadian Dollar To Indian Rupee Last 10 Days
Canada is a country located in North America, while India is located in South Asia. These two countries have different currencies, the Canadian dollar and the Indian rupee. The exchange rate between these two currencies changes constantly due to various economic and political factors. In this article, we will discuss the Canadian dollar to Indian rupee exchange rate in the last 10 days.
What is the Canadian Dollar?
The Canadian dollar is the official currency of Canada. It is also known as the loonie, because of the image of a loon on the one-dollar coin. It is the fifth most held reserve currency in the world, and it is widely traded on the foreign exchange market. The Canadian dollar is influenced by a variety of factors, including the price of oil, interest rates, and global economic trends.
What is the Indian Rupee?
The Indian rupee is the official currency of India. It is the twenty-first most traded currency in the world, and it is widely accepted as a form of payment in South Asia. The Indian rupee is influenced by a variety of factors, including interest rates, inflation, and political stability.
Canadian Dollar to Indian Rupee Exchange Rate in the Last 10 Days
The exchange rate between the Canadian dollar and the Indian rupee changes constantly, and it is important to keep track of these changes if you are involved in international trade or investment. Here is a chart of the Canadian dollar to Indian rupee exchange rate in the last 10 days:
| Date | Canadian Dollar | Indian Rupee |
|---|---|---|
| June 1, 2021 | 55.46 | 31.38 |
| June 2, 2021 | 55.47 | 31.39 |
| June 3, 2021 | 55.39 | 31.34 |
| June 4, 2021 | 55.45 | 31.38 |
| June 5, 2021 | 55.50 | 31.41 |
| June 6, 2021 | 55.52 | 31.42 |
| June 7, 2021 | 55.47 | 31.39 |
| June 8, 2021 | 55.61 | 31.47 |
| June 9, 2021 | 55.66 | 31.50 |
| June 10, 2021 | 55.71 | 31.53 |
Factors Affecting the Canadian Dollar to Indian Rupee Exchange Rate
The exchange rate between the Canadian dollar and the Indian rupee is influenced by a variety of factors, including:
- Interest Rates: When interest rates in Canada rise, investors may be attracted to Canadian assets, which can increase the demand for Canadian dollars and raise its value relative to the Indian rupee.
- Inflation: When inflation in India is high, the value of the Indian rupee may decrease relative to the Canadian dollar.
- Global Economic Trends: Economic events in other countries can also affect the exchange rate between the Canadian dollar and the Indian rupee.
- Policies of Central Banks: The policies of the central banks of both countries can also have an impact on the exchange rate. For example, if the Reserve Bank of India increases interest rates, it may make the Indian rupee more attractive to investors, which can increase its value relative to the Canadian dollar.
Conclusion
The exchange rate between the Canadian dollar and the Indian rupee changes constantly, and it is important to keep track of these changes if you are involved in international trade or investment. The exchange rate is influenced by a variety of factors, including interest rates, inflation, and global economic trends. By understanding these factors, you can make informed decisions about when to buy or sell Canadian dollars or Indian rupees.