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    CAD to INR 2024 Forecasts

    Analysis of recent Loonie → Rupee forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Canadian dollar to Indian rupee performance and trends.

     

    Forecasts for CAD to INR

     

    Based on recent exchange rate analyst forecasts and currency market updates, the Canadian Dollar (CAD) has been influenced by various factors. The CAD's performance is closely tied to oil prices, as Canada is a major oil exporter. Analysts have observed an improvement in oil prices, leading to a strengthening of the CAD against major peers. Despite being range-bound against the USD, the CAD underperformed against other commodity-led currencies due to easing domestic inflation concerns and a Bank of Canada rate cut. Forecasts from institutions such as Wells Fargo & Co., Monex Europe Ltd., Royal Bank of Canada, and Bank of America Corp. suggest further weakness for the CAD relative to the US dollar in the coming months. The Bank of Canada's dovish stance and potential rate cuts are expected to drive this weakness.

    On the other hand, for the Indian Rupee (INR), analysts do not anticipate the Reserve Bank of India (RBI) to implement any easing measures until late 2024. The USD to INR exchange rate is forecast to fluctuate within the 82-84 range, continuing its current bullish trend. Factors such as elevated US Treasury yields, a weak yuan, and crude oil prices are expected to weigh on the rupee in the near term. However, some moderation in these factors could provide support later on. The Indian rupee has faced pressure against the US dollar, with concerns about surging energy prices potentially leading to inflation and interest rate hikes. India's heavy reliance on oil imports, coupled with the impact of global oil production cuts, has added to the rupee's challenges.

    Given the recent CAD to INR price data showing the exchange rate at 14-day lows near 61.06 and stable trading within a 1.2% range, alongside the relatively stable OIL to USD price data, investors may want to monitor ongoing developments in oil prices and central bank policies to better understand potential shifts in the CAD to INR exchange rate.

     
    @bestfxrates : 📉 CAD to INR dips to 14-day low at 61.06 amid rising oil prices & BoC rate cut. Economists link CAD's strength to oil, yet it underperforms vs commodity currencies. RBI holds firm, whereas CAD faces forecasted weakness. Markets eye oil & central bank moves for future CADINR shifts. #ForexUpdate #CADINR

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    CAD to INR Market Data

    Canadian dollar (CAD) to Indian rupee (INR) market data - latest interbank exchange rate, trend, chart & historic rates.

     
    1 CAD =
    60.80We compare provider deals to this wholesale mid-market rate. Read more
    INR
    -0.2%
    2W
    CAD to INR is at 14-day lows near 60.91, near its 3-month average, having traded in a stable 1.2% range from 60.60 to 61.34
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    Sell CAD   →   Buy INR
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    Compare & Save - Canadian dollar to Indian rupee

    Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Canadian dollar (CAD) to Indian rupee (INR) rates from different sources before making a conversion.

    Use our CAD to INR calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Loonie to Rupee currency rates and the possible savings of using various providers.

     
    DateCAD/INRChangePeriod
    05 Jul 2024
    61.19
    0.5% 2 Week
    20 Apr 2024
    60.61
    0.5% 3 Month
    20 Jul 2023
    62.30
    2.2% 1 Year
    21 Jul 2019
    52.73
    15.5% 5 Year
    22 Jul 2014
    56.01
    8.7% 10 Year
    24 Jul 2004
    35.04
    73.8% 20 Year
    CAD/INR historic rates & change to 19-Jul-2024
     

    Will the Canadian dollar rise against the Indian rupee?

    It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

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    Read our Currency guide to India - a practical currency and money guide to travel, living and doing business in India with the Indian rupee.

     
     

    Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more