Get real-time exchange rates on money transfers from Canada to India from the world's leading money transfer companies.
Today, the Canadian dollar is the 7th most traded currency on the foreign exchange market. It is actually considered a commodity currency because of Canada’s amount of raw material exports. The CAD to INR exchange rate is fluctuating at a high rate, meaning that the Canadian dollar is becoming stronger against the Indian rupee. Sending money to India from Canada today means that you’ll get the most Indian rupees for your Canadian dollars. When sending money, be sure to use our CompareRemit online comparison tool to find the best CAD to INR today.
Over the past six months, the highest traded CAD to INR rate was Rs 62.4255 to the dollar on August 11, 2022. The lowest traded rate was Rs 59.2915 with an overall 6 month average of Rs 60.8762. Over the past 20 years, the Canadian dollar has continued to grow against the Indian Rupee, despite Indian economic growth.
The Canadian economy overall has remained strong due to oil and commodity prices, which are among its biggest exports. 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 Indian GDP growth rate averaged around 7% each year through 2011.
The CAD to INR exchange rate will fluctuate based on many different factors. Some of these factors include commodity prices, interest rates, inflation rates, international trading, foreign investment, and debt payments. For example, the pandemic had a huge impact on foreign exchange rates due to worldwide issues with GDP. 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.
Before sending money from Canada to India, check the current market exchange rates and historical exchange rate data. The best time to send money is when the exchange rate is the highest, resulting in the most Indian Rupees for your Canadian dollars. If you look at historical data, you can make a better decision based on predictions and where the market is headed. Obviously, if you need to send money urgently, you may not have the luxury of picking and choosing when to send money overseas. 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.
In order to get the best Canadian dollar rate today, sign up for CompareRemit’s best rate notifications to receive alerts daily. It does appear that 1 Canadian dollar in Indian rupee today is increasing, meaning that the rupee is falling against the Canadian dollar. Getting the best exchange rate of the day allows you to understand the mid-market rate, which you can use to compare against companies offering money transfer services.
If you are planning on converting your dollar to Indian rupee, you have many options to choose from. You can use our online comparison tool to look at the many companies offering CAD to Indian rupee money transfer along with their fees, speed, exchange rate, and more. This allows you to pick the service that works best for you and your needs, as well as assuring you that you’ll receive the best Canadian dollar price in India.
The Canadian dollar to Indian rupee will fluctuate over time, so check back regularly on CompareRemit to understand when the market rates are ideal for your transfer. Transferring money using one of our partner services is fast, low cost, and completely secure. Check our company reviews for more information regarding each partner and our spotlight articles for more in-depth guides on how to use their services. Use CompareRemit to find the best Canadian dollar rate in India today!
The Canadian dollar has weakened over the past 6 months against the Indian rupee as a recession in Canada is feared. The Canadian dollar has continued to fall short of forecasts at the end of 2022 due to sharp losses over the summer. The Bank of Canada hiked interest rates to tackle inflation by 300 basis points since March of 2022 to 3.25%, which is a 14-year high for the country.
The Indian Rupee has surprisingly remained steady against the Canadian dollar, strengthening slightly against it over the past 6 months. As of November 2022, CAD to INR is trading around 60.07. The CAD to INR forecast for 2023 appears steady, with analysts predicting the pair to trade around 60 to 61 in late 2023 and dropping to 59 by the end of 2023.