Canada Dollar Rate In India Today

What is the Canada Dollar Rate in India today?

The value of the Canadian dollar against the Indian rupee has been fluctuating in recent months as a result of a number of economic factors in both countries.

Factors affecting the Canada Dollar Rate in India

The CAD to INR exchange rate is set by the supply and demand for each currency in India.

1. Economic growth: The Gross Domestic Product (GDP) of India is expected to grow by 7.5% in 2023, while the GDP of Canada is expected to grow by 3.5%. This difference in economic growth rates could lead to an increase in demand for the Indian rupee, which would cause the CAD to INR exchange rate to rise.
2. Interest rates: The Reserve Bank of India (RBI) recently raised interest rates by 25 basis points, while the Bank of Canada (BoC) has kept interest rates unchanged. This difference in interest rates could lead to an increase in demand for the Canadian dollar, which would cause the CAD to INR exchange rate to fall.
3. Political stability: India and Canada are both politically stable countries, but there are some concerns about the stability of the Indian government. These concerns could lead to a decrease in demand for the Indian rupee, which would cause the CAD to INR exchange rate to fall.
4. Global economic conditions: The global economy is currently experiencing a slowdown, which could lead to a decrease in demand for both the Indian rupee and the Canadian dollar. This would cause the CAD to INR exchange rate to fall.

To get the most up-to-date Canada Dollar rate in India, it is best to check a currency converter or a financial news website. XE Currency Converter and Bloomberg are two reputable sources for currency exchange rates.

Canada Dollar Rate In India Today