Looking for the best Canadian Dollar to INR exchange rate? We are the most reliable forex partners and offer the most competitive CAD to INR exchange rate. So, if you have just returned from an international trip and want to convert CAD to INR, then you have arrived at the right place.
Needless to say, one of the most important aspects of an overseas vacation is arranging for forex. Experienced travels believe that it is better to be safe than sorry and thus advice others to carry a little more than the estimated forex. If you also converted more than the estimated Rupees to Canadian Dollar , just to make sure that you don’t run out of foreign exchange throughout the trip, then you are a smart traveler. After all, no one likes to go through the hassle of finding a reliable forex vendor in a foreign country. Even if they do find one, the exchange rate would be exorbitant.
How to convert CAD to INR?
If you have extra Canadian dollars that you want to convert, then we have an ideal solution for you. Thomas Cook not only helps you buy forex at the most competitive rates, but also enables you to reconvert CAD to INR. Apart from facilitating Canadian Dollar to INR conversion, we also specialize in finding the best deals on flights and hotels . Those who have the itch to visit Canada again may opt to not convert their CAD to INR, but those who don’t intend to go back must convert their foreign currency at the earliest to keep the value of their INR intact. Our experts help you get the most competitive Canadian Dollar to INR rate.
Importance of the Canadian Dollar:
Canada is among the top-ten global economies, and the Canadian dollar reflects the country’s stable and developed economy. Often called “loonie”, the Canadian Dollar, or the CAD, is the official currency of Canada. It is regarded as a benchmark currency. This means that in the reserve/ central banks across countries, the Canadian dollar is kept as a reserve currency. Canada is considered a stable, liberal, and peaceful country. This is also an important factor in making CAD an international currency. It is estimated that the world today holds about $300 billion in CAD.
Introduction of the Canada Dollar
The history of the Canada Dollar began back in 1858 when the first Canada Dollar coin and currency note were minted. In 1871, under Uniform Currency Act, all the provinces of Canada began using Canada Dollar as their only national currency. The Bank of Canada (BoC) is the central bank of Canada situated in Ottawa that regulates and administers the currency of the country. Currently, Canada is using the 7th Frontier Series of banknotes and coins. The banknotes made of polymer and synthetic fibre come in the denominations of 5, 10, 20, 50, and 100, while the denominations of coins are 5, 10, 25, and 50 cents.
History of INR- Basic information
Indian currency, INR (Indian National Rupee), has a long and vivid history. The first paper currency, Rs. 5, was issued by the Reserve Bank of India (Central Bank) in 1938 with King George VI's portrait.
Post-independence, 1 rupee paper notes were first issued with the image of the Lion Capital of Sarnath. In 1950 came the popular Anna Series, where 16 Anna accounted for 1 rupee. The new currency notes were released until finally, in 1996, RBI introduced the Mahatma Gandhi series with his photo on paper notes of Rs.10 and 500. In July 2010, the symbol (₹) of INR was introduced. Recently, in 2016, monetary reforms were introduced under demonetization, and ₹500 and ₹1000 notes were disbanded. Currently, India has paper note denominations of 5, 10, 20, 50, 100, 200, 500, and 2000.
Factors that affect the exchange of the Canada Dollar to INR (Or INR to XYZ currency)
The exchange rate of CAD to INR keeps fluctuating mostly around INR 60. This means approximately 60 INR = 1 CAD. Various factors affect the exchange rate, and it is always best to check the rates before sending money. It will help you get the maximum INR for your CAD. Factors like interest rates in India, commodity prices in the international market, international oil prices, debt payments, foreign investments, etc., directly impact the CAD to INR exchange rate. Political and economic stability in India will have higher chances of getting high exchange rates in the international market and vice-versa.
Convert Canada Dollar to INR (or vice versa) Online as per Today’s Conversion Rate
The currency converter lets you quickly convert one currency value to another as per the current exchange rate. Today's conversion rate of CAD to INR is 1 CAD= 61.2 INR. Let's understand how it works with the help of an illustration:
Venkatesh is 35 years old, and he works in a multinational firm in Canada. Like every month, he wants to send some money to his family living in India. Venkatesh wants to send a total of 20,000 CAD to his father in India.
As per today's exchange rate, 1 CAD = 61.22 INR and 1 INR = 0.016 CAD.
So, 20,000 CAD will be 12, 21,103 INR. So, as of today, his family in India will receive INR 12 lakhs 21 thousand and 103 rupees.
Convert Canada Dollar to INR (or vice versa)
While there is the option to use a currency converter to convert Canadian dollars to INR correctly and quickly, you can also calculate the same yourself.
The rate of CAD to INR today is 61.22
For 1 Canadian dollar, you will receive INR 61.22
The expected High-Low is +0.69
So, 1 INR = 0.016 CAD
10 CAD = INR 610.57.
How are Canada Dollar-INR (or vice versa) Rates Determined?
Witnessing the recent past trends, it can be seen that the average CAD to INR value has remained somewhere around 60 INR = 1 CAD. The rate of exchange of CAD to INR is determined by the central banks of both countries that are the Bank of Canada (BoC) and the Reserve Bank of India (RBI). Depending on the various factors that affect the international exchange rate of the currencies, both banks decide the exchange rate, and it remains applicable until the next update.
Canada Dollar and INR Overview
Analyzing the exchange rate trends of about the past 6-7 months, it can be seen that the highest CAD to INR exchange rate was 1 CAD=62.4 INR, and the lowest went around 59.2 INR=1 CAD. Both the Indian and Canadian economies are growing. However, the value of the Canada Dollar is clearly growing at a higher pace than INR. In today's time, sending money from Canada to India means a higher INR amount and vice-versa. The rates keep fluctuating every day, so before sending money, make sure you check and calculate the rates and wait for the best possible rates.
Did you know you can now convert CAD to INR online?
The world is evolving and you are no longer required to personally go to a currency exchange vendor to sell your leftover foreign exchange. You can now sell forex online from the comfort of your home. Visit the Thomas Cook website, enter the details, and you are good to go. Don’t worry about the mode of currency, we accept everything from a traveler’s cheque to forex cards.
Thomas Cook takes pride in being one of the world’s leading forex and travel partners. Our commitment towards work has allowed us to offer travel solutions that are sure to enrich your traveling experience. What are you waiting for? Get the best price of CAD to INR today.
