Search
Navigation：Fin102500>Stocks>Detail

What is the Current Exchange Rate between the Indian Rupee and Canadian Dollar?

Sophia FloerschVerified
1984 Views0 CommentsFeedback
Summary：The exchange rate between the Indian Rupee and Canadian Dollar is around 0.017 CAD for every INR. Factors such as interest rates and balance of trade can affect the exchange rate. Investors can take advantage of investment opportunities in both Indian and Canadian markets.

Theexchange ratebetween the Indian Rupee (INR) and the Canadian Dollar (CAD) has been a topic of interest for investors and businesses alike. The exchange rate is a crucial factor in determining the cost of imports and exports between the two countries, and it can also impact investment decisions.

Current Exchange Rate

As of September 2021, the current exchange rate between the INR and CAD is approximately 0.017 CAD for every INR. This means that one Canadian dollar can buy around 58 Indian Rupees. This exchange rate is subject to change depending on various economic and political factors.

Factors Affecting Exchange Rate

Several factors can affect the exchange rate between two currencies. One of the most significant factors is theinterest rateset by the respective central banks. If the interest rate in Canada is higher than that of India, investors may prefer to invest in CAD, causing the demand for CAD to increase and the exchange rate to rise.

Another factor that can affect the exchange rate is thebalance of tradebetween two countries. If India is exporting more goods to Canada than it is importing, the demand for INR will increase, and the exchange rate will rise accordingly.

Investment Opportunities

Investors can take advantage of the exchange rate between the INR and CAD by investing in various financial instruments. One such investment opportunity is to invest in Indian stocks or mutual funds. As the Indian economy continues to grow and develop, the demand for Indian stocks and mutual funds is likely to increase, resulting in potential gains for investors.

Another investment opportunity is to invest in Canadian stocks or ETFs. As the Canadian economy continues to recover from the pandemic, the demand for Canadian stocks and ETFs is expected to increase, leading to potential gains for investors.

Conclusion

In conclusion, the exchange rate between the INR and CAD is an essential factor that can impact businesses and investors. The current exchange rate is around 0.017 CAD for every INR, and it is subject to change depending on various economic and political factors. Investors can take advantage ofinvestment opportunitiesin both Indian and Canadian markets to potentially gain from the exchange rate.

Disclaimer: the above content belongs to the author's personal point of view, copyright belongs to the original author, does not represent the position of Fin102500! This article is published for information reference only and is not used for any commercial purpose. If there is any infringement or content discrepancy, please contact us to deal with it, thank you for your cooperation!
indian rupee to canadian dollarexchange rateinvestment opportunitiesinterest ratebalance of trade
Link:https://www.102500.com/stocks/5446.htmlShare the Link with Your Friends.
Prev：What's the Best Way to Invest in VTI?Next：--

Article review

Related Topics

  • What Is the Impact of Academy Sports on Manhattan, Kansas?

    Explore the positive impact of Academy Sports on Manhattan, Kansas. Boost to local economy, competition with local businesses, and investment opportunities are discussed.

  • What are the Best Micro-Cap Stocks to Invest in?

    Investing in micro penny stocks can be lucrative with strong fundamentals, growth potential, and risk mitigation. Pixelworks, Vuzix, and O2Micro International are worth considering.

  • When Does the Academy Awards Ceremony Begin?

    Find out what time the Academy Awards ceremony begins and how to watch it. Learn about investment opportunities and broadcasting channels.

  • What Makes New York the Global Financial Hub?

    Discover the key factors that make New York City the finance capital of the world, including the presence of Wall Street, major financial institutions, a robust regulatory environment, access to capital, and a wide range of investment opportunities.

  • What are the Top Gainers on TSX Today?

    Discover the top gainers on TSX today including Ballard Power Systems, Converge Technology Solutions, and BRP Inc. Learn why these companies are performing well and explore potential investment opportunities.

  • What Are the Benefits of Investing in International Bonds?

    Investing in international bonds can provide diversification, higher yields, access to different markets, currency appreciation, and a hedge against inflation. An international regular investment bond is a great way to invest in foreign bonds regularly.

  • What Are the Best Travel Credit Cards?

    Find the best travel credit cards for your needs and earn rewards points, travel insurance, and more. Choose from top options like Chase Sapphire Preferred, American Express Platinum, and Capital One Venture Rewards.

  • What's the Cost of Malpractice Insurance for PAs?

    The cost of malpractice insurance for physician assistants varies based on specialty, location, coverage amount, and claims history. It can range from a few hundred to several thousand dollars per year.

  • What are the duties of the finance department?

    The finance department manages financial resources, plans, and analysis, reporting, treasury, risk, tax, and investment management to ensure financial stability and profitability.

  • What Are the Top 10 Financial Tools for Efficient Management?

    Discover the top 10 financial tools for efficient management, including accounting software, payment processing solutions, and financial advisors. A finance assistant can use these tools to streamline financial tasks and achieve long-term success.

  • What Makes Alex W Spence Academy Exceptional?

    Alex W Spence Talented/Gifted Academy is an exceptional public middle school in Dallas, Texas known for its innovative STEM curriculum, dedicated teachers, strong community involvement, and high student achievement.