![]() It does appear that 1 Canadian dollar in Indian rupee today is increasing, meaning that the rupee is falling against the Canadian dollar. In order to get the best Canadian dollar rate today, sign up for CompareRemit’s best rate notifications to receive alerts daily. However, if you don’t have restrictions on when you are able to send money, try to pick a time that typically has the best exchange rates based on historical data. Obviously, if you need to send money urgently, you may not have the luxury of picking and choosing when to send money overseas. If you look at historical data, you can make a better decision based on predictions and where the market is headed. The best time to send money is when the exchange rate is the highest, resulting in the most Indian Rupees for your Canadian dollars. When is the Best Time to Send Money to India?īefore sending money from Canada to India, check the current market exchange rates and historical exchange rate data. If you are sending money from CAD to INR, you want the Canadian dollar to be stronger against the Indian Rupees, because you’ll get a higher exchange rate. For example, the pandemic had a huge impact on foreign exchange rates due to worldwide issues with GDP. Some of these factors include commodity prices, interest rates, inflation rates, international trading, foreign investment, and debt payments. The CAD to INR exchange rate will fluctuate based on many different factors. What Affects the CAD to INR Exchange Rate? The Indian GDP growth rate averaged around 7% each year through 2011. The Indian government in the 1990s implemented liberalization measures in order to stimulate growth economically, including reducing controls on foreign investments and trades, deregulating industries, and privatizing state-owned enterprises. The Canadian economy overall has remained strong due to oil and commodity prices, which are among its biggest exports. Over the past 20 years, the Canadian dollar has continued to grow against the Indian Rupee, despite Indian economic growth. The lowest traded rate was Rs 59.2915 with an overall 6 month average of Rs 60.8762. ![]() Over the past six months, the highest traded CAD to INR rate was Rs 62.4255 to the dollar on August 11, 2022. When sending money, be sure to use our CompareRemit online comparison tool to find the best CAD to INR today. Sending money to India from Canada today means that you’ll get the most Indian rupees for your Canadian dollars. The CAD to INR exchange rate is fluctuating at a high rate, meaning that the Canadian dollar is becoming stronger against the Indian rupee. It is actually considered a commodity currency because of Canada’s amount of raw material exports. Today, the Canadian dollar is the 7th most traded currency on the foreign exchange market.
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