Current Rate Of Canadian Dollar In Pakistani Rupees
Introduction
The Canadian dollar, also known as CAD, is the official currency of Canada. It is widely used across the country for daily transactions and international trade. On the other hand, the Pakistani rupee is the official currency of Pakistan. It is primarily used in Pakistan and is also accepted in some other countries. The exchange rate between these two currencies keeps on fluctuating due to various economic and political factors. In this article, we will discuss the current rate of the Canadian dollar in Pakistani rupees.
Factors Influencing Exchange Rate
Exchange rates between any two currencies are determined by various factors such as inflation, interest rates, political stability, economic growth, etc. The fluctuations in these factors cause changes in the exchange rates of currencies. The exchange rate between the Canadian dollar and Pakistani rupee is no exception to this rule.
The Canadian economy is highly dependent on its exports, particularly to the United States, which makes up a significant portion of its economy. Any changes in the US economy or its trade policies can affect the Canadian dollar's value. Similarly, Pakistan's economy is heavily reliant on imports, which puts pressure on its currency. Any changes in the international market prices of commodities can affect the exchange rate of the Pakistani rupee.
Current Exchange Rate
As of August 2021, the exchange rate between the Canadian dollar and Pakistani rupee is approximately 1 CAD = 117.5 PKR. This means that one Canadian dollar can be exchanged for 117.5 Pakistani rupees.
The exchange rate between these two currencies keeps on changing due to various factors, as mentioned earlier. Therefore, it is essential to keep an eye on the current market trends and economic indicators to make informed decisions while exchanging currencies.
Impact on Trade and Investment
The exchange rate between the Canadian dollar and Pakistani rupee has a significant impact on trade and investment between the two countries. A stronger Canadian dollar makes Canadian exports more expensive, which can reduce demand from Pakistani importers. On the other hand, a weaker Pakistani rupee can make Pakistani imports more expensive, which can reduce demand from Canadian importers.
Investors also consider the exchange rate while making investment decisions in either country. A stronger Canadian dollar can offer better returns to investors, while a weaker Pakistani rupee can make Pakistani investments less attractive.
Conclusion
The exchange rate between the Canadian dollar and Pakistani rupee keeps on fluctuating due to various economic and political factors. As of August 2021, the exchange rate is approximately 1 CAD = 117.5 PKR. It is essential to keep an eye on the current market trends and economic indicators to make informed decisions while exchanging currencies or making investment decisions. Understanding the factors influencing the exchange rate can help individuals and businesses to minimize their risks and maximize their returns.