Canadian Dollar to Indian Rupee ( CAD to INR ) Exchange Rate

Currency Exchange Rate (CAD to INR) - Last 10 Days

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CAD to INR

Canada’s official currency is the Canadian dollar (CAD). In order to differentiate it from other currencies, CAD is usually abbreviated as C$, Can$, or CA$. 100 cents are equal to a Canadian dollar.

Among most analysts and foreign exchange traders, the currency is known as the Loonie. CAD is the world’s fifth-most held currency. About 2% of the global reserves are accounted for by the currency. Among the central banks, the Canadian dollar is very popular due to the country’s economic soundness and the stability of Canada’s political and legal systems.

In the Forex market, the seventh most traded currency is the Canadian dollar. Due to Canada’s high raw material export, CAD is also considered as a commodity currency. The currency was initially introduced in the country in the early 1660s. The Montreal Bank issued the very first notes in 1821. Soon after that, the notes became the primary mode of payment.

The exchange rates of the currency are determined by various factors such as economic performance, political stability, terms of trade, public debt, interest rate, and inflation.

FAQs

1. Should I return the Canadian dollars I brought on my trip when I return to India?

Yes, foreign exchange that is unspent, which is in the form of traveller's cheques or currency notes, has to be surrendered within 180 days of your return to India.

2. Can I exchange Canadian dollars online?

Yes, you can exchange Canadian dollars online through a bank or recognised foreign exchange platform.

3. What are the factors that affect the Canadian dollar's exchange rate?

The exchange rate of the Canadian dollar is influenced by a host of factors ranging from the monetary policy of the central banks to oil prices and global events.