The Canadian dollar, also known as the CAD, is the official currency of Canada. It is one of the most traded currencies in the world, and its value is influenced by various economic factors such as inflation, interest rates, and trade policies. In India, the Canadian dollar is widely used for international transactions, investments, and travel purposes. Today, let's take a look at the current Canadian dollar rate in Indian rupees.
Factors Affecting CAD/INR Exchange Rate
The exchange rate between CAD and INR is determined by the demand and supply of both currencies in the forex market. The following are some of the major factors that affect the CAD/INR exchange rate:
Interest Rates
The interest rates set by the central banks of both countries have a significant impact on the exchange rate. When the Bank of Canada raises its interest rates, it attracts more foreign investments, which increases the demand for CAD and strengthens its value against INR.
Inflation
Inflation is another important factor that affects the exchange rate. When the inflation rate in Canada is higher than that of India, it reduces the purchasing power of CAD, and its value decreases against INR.
Trade Policies
The trade policies of both countries can also affect the exchange rate. For example, if Canada imposes tariffs on Indian goods, it can reduce the demand for CAD in India, and its value can decrease against INR.
Current CAD/INR Exchange Rate
As of today, the Canadian dollar rate in Indian rupees is ₹58.45. This means that one Canadian dollar can be exchanged for 58.45 Indian rupees.
Historical CAD/INR Exchange Rate
The exchange rate between CAD and INR has fluctuated over the years. In 2015, the CAD/INR exchange rate was around ₹49. However, it reached its lowest point in 2020 when the COVID-19 pandemic caused a global economic slowdown. At that time, the CAD/INR exchange rate was around ₹52.
Conclusion
The CAD/INR exchange rate is influenced by various economic factors, and it can fluctuate over time. As of today, the Canadian dollar rate in Indian rupees is ₹58.45. If you are planning to travel to Canada or invest in CAD, it is important to keep an eye on the exchange rate and make informed decisions.
Related video of Today's Canadian Dollar Rate In Indian Rupees