Price Of Canadian Dollar In Indian Rupees Today
Introduction
The Canadian dollar (CAD) is the official currency of Canada, whereas the Indian rupee (INR) is the official currency of India. The exchange rate between these two currencies keeps fluctuating based on various factors such as market demand, economic stability, political stability, and trade relations between the two countries. In this article, we will discuss the current price of the Canadian dollar in Indian rupees.
Current Price of Canadian Dollar in Indian Rupees
As of today, the price of 1 Canadian dollar is approximately 57.68 Indian rupees. However, this exchange rate is subject to change depending on various economic and political factors.
Factors Affecting the Exchange Rate
There are several factors that affect the exchange rate between the Canadian dollar and Indian rupee. These factors include:
- Market Demand: The exchange rate between the two currencies is primarily determined by market demand. If there is high demand for Canadian dollars in India, the exchange rate will be higher, and vice versa.
- Economic Stability: The economic stability of both Canada and India can also affect the exchange rate. If Canada's economy is performing well, the exchange rate may be higher, and vice versa.
- Political Stability: Political stability is another critical factor that can significantly impact the exchange rate. If there is political instability in Canada or India, it can lead to a decrease in the exchange rate.
- Trade Relations: The trade relations between Canada and India can also impact the exchange rate. If the two countries have strong trade relations, it can lead to an increase in the exchange rate.
Historical Exchange Rates
The exchange rate between the Canadian dollar and Indian rupee has seen significant fluctuations over the years. Here are some historical exchange rates between the two currencies:
- As of January 2010, the price of 1 Canadian dollar was approximately 44.79 Indian rupees.
- As of January 2015, the price of 1 Canadian dollar was approximately 50.73 Indian rupees.
- As of January 2020, the price of 1 Canadian dollar was approximately 54.79 Indian rupees.
Impact on Trade and Travel
The exchange rate between the Canadian dollar and Indian rupee can have a significant impact on trade and travel between the two countries. If the exchange rate is favorable, it can lead to increased trade and tourism between the two countries. On the other hand, if the exchange rate is unfavorable, it can lead to a decrease in trade and tourism.
Conclusion
The exchange rate between the Canadian dollar and Indian rupee is subject to change based on various economic and political factors. As of today, the price of 1 Canadian dollar is approximately 57.68 Indian rupees. The exchange rate can have a significant impact on trade and travel between the two countries, and it's essential to keep track of the exchange rate when doing business or traveling to Canada or India.
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Get the latest updates on the current price of Canadian dollar in Indian rupees today. Discover the factors affecting the exchange rate and the impact it has on trade and travel between Canada and India.
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Canadian dollar, Indian rupee, exchange rate, market demand, economic stability, political stability, trade relations, historical exchange rates, trade, tourism.