Exchange Rate Of Canadian Dollar To Indian Rupee
Exchange rates are an important part of global trade and finance. They determine the value of one currency in relation to another. In this article, we will explore the exchange rate of the Canadian dollar to the Indian rupee.
What is the Canadian dollar?
The Canadian dollar is the official currency of Canada. It is abbreviated as CAD and is often referred to as the loonie due to the image of a loon on the back of the one-dollar coin. The Canadian dollar is the fifth most held currency in the world and is widely traded in the foreign exchange market.
What is the Indian rupee?
The Indian rupee is the official currency of India. It is abbreviated as INR and is commonly referred to as the rupee. The Indian rupee is the 20th most traded currency in the world and is widely used in international trade and finance.
What is the current exchange rate between CAD and INR?
As of September 2021, the current exchange rate between the Canadian dollar and the Indian rupee is approximately 1 CAD = 60 INR. This means that one Canadian dollar can be exchanged for 60 Indian rupees.
Factors that affect the CAD/INR exchange rate
There are several factors that can affect the CAD/INR exchange rate. These include:
- Economic data: Economic data such as inflation, GDP, and trade balance can affect the exchange rate between two currencies.
- Interest rates: The interest rates set by central banks can affect the value of a currency.
- Political factors: Political stability and government policies can also affect exchange rates.
- Market sentiment: Market sentiment and investor confidence can affect exchange rates.
Historical exchange rate between CAD and INR
The exchange rate between the Canadian dollar and the Indian rupee has fluctuated over time. In 2011, one Canadian dollar was worth approximately 45 Indian rupees. However, by 2015, the exchange rate had risen to approximately 55 Indian rupees per Canadian dollar. As of September 2021, the exchange rate is approximately 60 Indian rupees per Canadian dollar.
How to convert CAD to INR?
If you need to convert Canadian dollars to Indian rupees, you can do so through a bank or a currency exchange service. You can also use online currency converters that provide real-time exchange rates.
Conclusion
The exchange rate between the Canadian dollar and the Indian rupee is an important factor in international trade and finance. It is affected by several factors such as economic data, interest rates, political factors, and market sentiment. As of September 2021, one Canadian dollar is worth approximately 60 Indian rupees.