CAD to INR Exchange Rate

Ahh, India: the country that brought you chess, the Taj Mahal and, of course, the neti pot.

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What influences the CAD/INR exchange rate?

When reviewing the Indian rupee (INR) exchange rate, it’s important to keep in mind that the Reserve Bank of India (RBI) applies a managed float exchange rate policy to the INR/USD relationship, which means that the RBI routinely trades in the forex market to ensure the USD/INR exchange rate isn’t too volatile. This policy may have subsequent effects on the CAD/INR exchange rate, because the Canadian dollar is often evaluated against the strength of its primary trade partner the U.S.
 
The Canadian dollar (CAD) works under a floating exchange rate regime. Therefore, the CAD exchange rate may be determined by supply and demand. Other factors that might influence CAD’s value include commodity prices, interest rates, and inflation rates.1

CAD/INR Snapshot

“Canada and India have longstanding bilateral relations, built upon shared traditions of democracy, pluralism and strong interpersonal connections with an Indian diaspora of more than one million in Canada.” – Government of Canada2

  • In 2015, Canada was ranked 10th in GDP, while India ranked 7th.3
  • In 2015, Canada was the 11th largest exporter and 10th largest importer in the world.4 India was the 16th largest exporter and the 14th largest importer.5
  • Canada’s top exports include crude petroleum, cars, refined petroleum, vehicle parts, and helicopters, planes, and spacecraft.4 India’s top exports include diamonds, refined petroleum, jewellery, rice, and packaged medicaments.5  

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Currency Name: Indian Rupee

Currency Code: INR

Currency Symbol: ₹

Central Bank: The Reserve Bank of India

Countries Used In: The Republic of India. Unofficially used in Bhutan and Nepal

Major Unit: One Indian Rupee

Minor Unit: One Paise = 1/100 of one Indian Rupee

Note Denominations: 1, 2, 5, 10, 20, 50, 100, 500 and 1000

Coin Denominations: 50 paise,1, 2, 5, 10, 50, 75, 100 and 1000.

 

INR to CAD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the INR to CAD exchange rate today.

 

Sources:

  1. https://lop.parl.ca/Content/LOP/ResearchPublications/tips/tip117-e.htm
  2. http://www.canadainternational.gc.ca/india-inde/bilateral_relations_bilaterales/canada_india-inde.aspx?lang=eng&_ga=2.250363904.764771610.1497977016-1910332906.1497977016
  3. http://databank.worldbank.org/data/download/GDP.pdf
  4. http://atlas.media.mit.edu/en/profile/country/can/
  5. http://atlas.media.mit.edu/en/profile/country/idn/