Canadian Dollar To Indian Rupee Exchange Rate Trend
Introduction
The Canadian dollar (CAD) and the Indian rupee (INR) are two of the most traded currencies in the world. The exchange rate between these two currencies is important for businesses and individuals who trade between Canada and India. In this article, we will discuss the trend of the Canadian dollar to Indian rupee exchange rate.
Factors Affecting the Exchange Rate
The exchange rate between the CAD and INR is affected by a number of factors, including:
Interest rates
Inflation rates
Economic growth
Political stability
International trade
Recent Trends
Over the past year, the CAD to INR exchange rate has been relatively stable. As of June 2021, the exchange rate is around 58 INR for 1 CAD. However, there have been fluctuations in the exchange rate over the past few years.
2018
In 2018, the CAD to INR exchange rate started the year at around 50 INR for 1 CAD. By the end of the year, the exchange rate had risen to around 55 INR for 1 CAD.
2019
In 2019, the CAD to INR exchange rate started the year at around 52 INR for 1 CAD. By the end of the year, the exchange rate had fallen to around 54 INR for 1 CAD.
2020
In 2020, the CAD to INR exchange rate started the year at around 54 INR for 1 CAD. By March, the exchange rate had fallen to around 51 INR for 1 CAD due to the COVID-19 pandemic. However, by the end of the year, the exchange rate had risen to around 58 INR for 1 CAD.
Forecast
The CAD to INR exchange rate is expected to remain relatively stable in the short term, but there may be fluctuations due to economic and political events. In the long term, the exchange rate is expected to be influenced by factors such as interest rates, inflation rates, and economic growth.
Conclusion
The Canadian dollar to Indian rupee exchange rate is an important indicator of the economic relationship between Canada and India. While the exchange rate has been relatively stable over the past year, there have been fluctuations in the past. It is important for businesses and individuals who trade between these two countries to keep an eye on the exchange rate and understand the factors that affect it.
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