Canadian Dollar Vs Indian Rupee Today Western Union
Introduction
When it comes to sending money abroad, many people prefer using Western Union. This money transfer service is widely used by people all over the world. If you are someone who wants to send money from Canada to India, you might be wondering about the Canadian dollar vs Indian rupee exchange rate. In this article, we will discuss the current exchange rate and how it affects your money transfer through Western Union.
Canadian Dollar Vs Indian Rupee Today
As of today, the Canadian dollar is trading at around 57 Indian rupees. This means that for every Canadian dollar you send through Western Union, you will get approximately 57 rupees in India. However, it is important to note that exchange rates are dynamic and can change quickly. It is always a good idea to check the current exchange rate before sending money through Western Union.
Factors Affecting Exchange Rates
Exchange rates are influenced by a number of factors such as inflation, interest rates, political stability, and economic growth. For example, if the Canadian economy is performing well, the Canadian dollar may strengthen against the Indian rupee, resulting in a higher exchange rate. Similarly, if there is political instability in India, the Indian rupee may weaken against the Canadian dollar, resulting in a lower exchange rate.
Western Union Exchange Rate
Western Union provides competitive exchange rates to its customers. However, it is important to note that the exchange rate quoted by Western Union may not be the same as the current market rate. Western Union adds a margin to the exchange rate to cover its costs and make a profit. Therefore, it is always a good idea to compare the exchange rate provided by Western Union with the current market rate before sending money.
How to Send Money from Canada to India through Western Union
Sending money from Canada to India through Western Union is a simple process. Here are the steps you need to follow:
- Visit the Western Union website or mobile app.
- Select the 'send money' option.
- Enter the amount you want to send and select the destination country (India).
- Choose the payout option (cash pickup or bank transfer).
- Enter the recipient's details (name, address, and phone number).
- Choose your payment method (credit/debit card or bank transfer).
- Review and confirm your transaction.
Western Union Fees
Western Union charges a fee for every money transfer. The fee depends on the amount you are sending, the destination country, and the payout option you choose. For example, if you are sending $100 CAD from Canada to India for cash pickup, the fee could be around $9 CAD. However, if you are sending the same amount for bank transfer, the fee could be around $5 CAD. It is always a good idea to check the fees before sending money through Western Union.
Conclusion
The Canadian dollar vs Indian rupee exchange rate affects your money transfer through Western Union. It is important to keep track of the current exchange rate and compare it with the rate quoted by Western Union. Additionally, you should also consider the fees charged by Western Union before sending money. By following these tips, you can ensure that you get the best deal on your money transfer.