Exchange Rate Of 1 Canadian Dollar To Indian Rupee
Introduction
The exchange rate of 1 Canadian Dollar to Indian Rupee is an important indicator of the strength of the Canadian economy and its relationship with the Indian economy. This rate is used to determine the value of the Canadian dollar in relation to the Indian rupee and is affected by a variety of factors, including economic conditions, political events, and market sentiment.
Factors Affecting the Exchange Rate
There are several factors that can affect the exchange rate of 1 Canadian Dollar to Indian Rupee, including:
- The economic conditions in Canada and India
- The political climate in both countries
- The level of trade between Canada and India
- The level of investment between Canada and India
- The level of foreign exchange reserves held by both countries
Current Exchange Rate
As of September 2021, the exchange rate of 1 Canadian Dollar to Indian Rupee is approximately 58.38. This means that for every Canadian dollar, you can expect to receive approximately 58.38 Indian rupees.
Historical Exchange Rates
The exchange rate of 1 Canadian Dollar to Indian Rupee has fluctuated over time, reflecting changes in economic conditions, political events, and market sentiment. In August 2010, the exchange rate was approximately 46.5, while in August 2020, it was approximately 54.5.
Impact on Trade and Investment
The exchange rate of 1 Canadian Dollar to Indian Rupee can have a significant impact on trade and investment between Canada and India. When the Canadian dollar is strong relative to the Indian rupee, Canadian goods and services become more expensive for Indian consumers, which can reduce demand for Canadian exports. On the other hand, when the Canadian dollar is weak relative to the Indian rupee, Canadian goods and services become more affordable for Indian consumers, which can increase demand for Canadian exports.
Conclusion
The exchange rate of 1 Canadian Dollar to Indian Rupee is an important indicator of the relationship between Canada and India. It is affected by a variety of factors, including economic conditions, political events, and market sentiment. Understanding the exchange rate can help individuals and businesses make informed decisions about trade and investment between Canada and India.