Canadian Dollar (CAD) to Indian Rupee (INR)
Looking for the best Canadian Dollar to INR exchange rate? We are your go to forex partners, offering the best CAD to INR exchange rate. Just back from an international trip and need to convert CAD to INR? You are at the right place.
Forex is a crucial part of international travel. Better safe than sorry, so it’s always good to carry a little extra foreign currency than estimated. If you converted more Rupees to Canadian Dollars than estimated to avoid running out of foreign exchange during your trip, you are smart. No one likes to find a reliable forex vendor in a foreign country and even if they do find one, the exchange rate would be astronomical.
How to convert CAD to INR?
If you have extra Canadian dollars to exchange, we have the solution. Thomas Cook not only helps you buy forex at the best rates but also converts CAD to INR. We not only convert Canadian Dollar to INR but also source the best deals on flights and hotels. If you want to go back to Canada, you may not need to convert CAD to INR. But if you are not going back, you should convert your foreign currency as soon as possible to lock the value of your INR. Our experts will help you get the best Canadian Dollar to INR rate.
About Canadian Dollar:
Canada is one of the top ten economies of the world and the stability and growth of the country’s economy is reflected in the Canadian dollar. Also known as the “loonie”, CAD is the official currency of Canada. It is a key currency and is held as a reserve currency in central and reserve banks around the world. Canada is a peaceful, liberal and stable country which adds to the CAD’s status as an international currency. It is estimated that the global reserve holds around $300 billion in CAD.
History of Canadian Dollar
The Canadian Dollar has its roots back in 1858 when the first Canadian Dollar coin and currency note was minted. In 1871 the Uniform Currency Act standardized the use of Canadian Dollar as the national currency across all Canadian provinces. The Bank of Canada (BoC) located in Ottawa is the central bank of Canada and regulates the currency. Today Canada is using the 7th series of banknotes and coins. The banknotes made of polymer and synthetic fiber are available in denominations of 5, 10, 20, 50 and 100 and coins in denominations of 5, 10, 25 and 50 cents.
History of INR – Basic Info
Indian currency, INR (Indian National Rupee) has a long and detailed history. The first paper currency, Rs. 5 was issued in 1938 by the Reserve Bank of India (Central Bank) and had the portrait of King George VI.
After independence 1 rupee paper notes were circulated with the image of the Lion Capital of Sarnath. In 1950 the popular Anna Series was introduced where 16 Anna was equal to 1 rupee. New currency notes were issued till 1996 when RBI introduced the Mahatma Gandhi series with his photo on paper notes of Rs. 10 and 500. The symbol (₹) for INR was introduced in July 2010. In 2016 India underwent monetary reforms as part of demonetization and Rs. 500 and Rs. 1000 notes were discontinued. Today India issues paper notes in denominations of 5, 10, 20, 50, 100, 200, 500 and 2000.
Factors affecting CAD to INR (Or INR to XYZ currency)
CAD to INR exchange rate fluctuates and is around INR 60, meaning 60 INR = 1 CAD. Various factors affect the exchange rate so it’s always good to check the rates before making any currency transfer. This will ensure you get the maximum value in INR for your CAD. Interest rates in India, international commodity prices, global oil prices, debt payments, foreign investments etc. directly impact the CAD to INR exchange rate. Political and economic stability in India will give you better exchange rates in the international market and vice versa.
Canada Dollar and INR Overview
When we look at the exchange rate trends for the past 6-7 months it’s clear that CAD to INR reached a high of 62.4 INR and low of 59.2 INR. Both Indian and Canadian economies are growing but Canadian Dollar is growing faster than INR. Currently sending money from Canada to India gives you more INR and vice versa. Since the rates change daily it’s always good to check and calculate the rates before making any transfer and wait for the best rates.
You can now convert CAD to INR online?
The world is changing and you don’t need to physically visit a currency exchange vendor to exchange your extra foreign currency. You can now exchange forex online from the comfort of your home. Just visit the Thomas Cook website, fill in the details and you are done. You don’t have to worry about the type of currency as we accept everything from traveler’s checks to forex cards. Thomas Cook is one of the leading forex and travel partners globally. Our hard work has helped us to provide travel solutions that will make your travel experience better. So what are you waiting for? Get the best CAD to INR rate today.