The CAD to INR exchange rate is currently 61.33 INR. This is a decrease of 0.18% from yesterday’s rate of 61.49 INR. The CAD has been steadily weakening against the INR in recent months, due to a number of factors, including the rising value of the US dollar and the ongoing trade war between the US and China.
Factors Affecting the CAD to INR Exchange Rate
The CAD to INR exchange rate is affected by a number of factors, including:
- The value of the US dollar: The CAD is closely correlated to the US dollar, so any changes in the value of the US dollar will also affect the value of the CAD. The US dollar has been strengthening in recent months, which has put downward pressure on the CAD.
- The trade war between the US and China: The trade war between the US and China has been a major factor in the recent weakness of the CAD. The trade war has caused uncertainty in the global economy, which has led investors to sell the CAD and buy other currencies.
- The oil price: Canada is a major exporter of oil, so the price of oil can also affect the value of the CAD. When the oil price rises, it makes Canadian exports more expensive, which can lead to a weaker CAD.
- The interest rate differential: The interest rate differential between Canada and India can also affect the CAD to INR exchange rate. When Canadian interest rates are higher than Indian interest rates, it makes it more attractive for investors to hold Canadian dollars, which can lead to a stronger CAD.
- Other factors: Other factors that can affect the CAD to INR exchange rate include political stability, economic growth, and investor sentiment.
Forecast for the CAD to INR Exchange Rate
Looking ahead, the CAD to INR exchange rate is expected to remain volatile in the near term. However, some analysts believe that the CAD could start to strengthen against the INR in the second half of the year, as the global economy begins to recover from the COVID-19 pandemic.
Table of CAD to INR Exchange Rate for the Past Week
| Date | Rate (INR) |
|---|---|
| August 16 | 61.49 |
| August 17 | 61.46 |
| August 18 | 61.43 |
| August 19 | 61.39 |
| August 20 | 61.33 |
Here are some popular CAD to INR conversion rates:
| Amount | INR |
|---|---|
| 1 CAD | 61.33 INR |
| 5 CAD | 306.67 INR |
| 10 CAD | 613.35 INR |
| 20 CAD | 1226.71 INR |
| 50 CAD | 3066.79 INR |
| 100 CAD | 6133.58 INR |
| 200 CAD | 12267.16 INR |
| 500 CAD | 30667.9 INR |
| 1000 CAD | 61335.8 INR |
Conclusion:
The CAD to INR exchange rate is a volatile market, and it is important to monitor the rate closely if you are planning to travel to India or are doing business with Indian companies. By understanding the factors that affect the exchange rate, you can make informed decisions about when to exchange your currency.
