The Canadian Dollar (CAD) and the Indian Rupee (INR) are important currencies in global finance. If you’re involved in transactions between Canada and India, understanding the CAD to INR exchange rate is essential.
This article provides a clear overview of the CAD to Indian Rupee exchange rate. We’ll cover current rates, historical data, and easy methods for efficient currency conversion.
CAD to INR: Recent trends
As with any currency pairing, the CAD to INR exchange rate is always in flux, responding to minute-by-minute changes in the market. As of this writing, one Canadian dollar equals 59.69090 Indian rupees.
Here’s a look at some recent highs, lows, and averages:
- 30-day high: 60.9350
- 30-day low: 59.6909
- 30-day average: 60.3008
- Change in 30 days: -1.29%
- 90-day high: 61.4428
- 90-day low: 58.9041
- 90-day average: 60.3266
- Change in 90 days: 0.27%
How to convert CAD to INR
If you need to convert CAD to INR, here are a few common methods:
Online currency converters
You can find a number of free, easy-to-use currency converters on the web or in your app store. These tools provide quick calculations to give you an idea of the current exchange rate. Make sure you’re using a reliable converter that uses up-to-date information.
Money transfer services
Money transfer services like Wise and Revolut can be a good alternative to using a traditional bank, especially if you’re sending money internationally. Keep in mind that some services may have hidden markups in their exchange rates. It’s important to compare the rates and fees from several providers before you decide which one to use for your transfer.
Using Revolut for CAD to INR transfers
Revolut offers international money transfers, and it’s relatively easy to use. Here’s how it works: First, you add money to your Revolut account. Then, you select CAD as the currency you’re sending and INR as the currency you want to send it to. Finally, you enter the amount you want to send and initiate the transfer. Revolut may not charge foreign exchange fees if the transfer is within your foreign exchange allowance.
Wise vs. Other Money Transfer Services
When you’re exchanging currency, you want the “mid-market rate,” which is the real exchange rate before any markups. Wise aims to give you this rate, with clear and upfront fees.
Let’s say you want to send 1000 CAD to India. With Wise, you’ll likely get closer to the actual CAD to INR exchange rate, and the fees are transparent. Other services might advertise lower fees, but they often make up the difference by marking up the exchange rate, costing you more in the long run.
Revolut is another option, often offering favorable exchange rates. Transfers between Revolut users can be almost instant. However, sending money from Revolut to a regular bank account can take 1-5 business days, similar to traditional bank transfers.
Frequently Asked Questions
How much is $100 CAD in India?
The value of $100 CAD in Indian Rupees (INR) fluctuates constantly based on the current exchange rate. To get an accurate figure, you should check a reliable currency converter online just before you need the information. Keep in mind that exchange rates can change even within the same day.
What is the salary in Canada to Indian Rupees?
Converting a Canadian salary to Indian Rupees requires knowing the specific salary amount in CAD. Then, you multiply that CAD amount by the current CAD to INR exchange rate. For example, a $50,000 CAD salary would be significantly higher in INR, but again, always use a real-time converter for the most up-to-date value.
How much is $5000 INR in CAD?
To find out how much 5000 INR is in CAD, you’ll need to divide 5000 by the current INR to CAD exchange rate. Like the other conversions, this value changes constantly, so use a currency converter right before you need the information for the most accurate result.
Why is CAD to INR decreasing?
The CAD to INR exchange rate is influenced by a complex interplay of economic factors. These can include differences in economic growth between Canada and India, changes in interest rates set by their respective central banks, fluctuations in commodity prices (especially oil, which affects Canada), and overall global market sentiment.
Key Takeaways
If you need to convert Canadian dollars to Indian rupees, it’s important to keep up with the current exchange rates and understand how they’ve changed over time.
There are several ways to convert CAD to INR, including online converters and money transfer services.
Be sure to compare the exchange rates and fees charged by different providers. That way, you can be confident you’re getting the best possible exchange rate and keeping costs as low as possible.