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CAD to INR Forecasts

In 2020 forecasts and predictions for the CAD/INR exchange rate were driven almost entirely by the Coronavirus pandemic rather than any fundamentals or relative sentiment towards the Canadian and Indian economies.

Canadian dollar to Indian rupee bank forecasts

The Reserve Bank of India’s announcement in April sunk the Indian rupee back below 60 to the CAD dollar.

Since the initial pandemic shock in March CAD/INR has risen around 30 percent, welcome news for Indian expat workers, who represent one of the largest groups remitting money from Canada.

Unlike Latin American countries, which continue to benefit from a U.S. recovery, Asian countries are vulnerable to economic austerity in Saudi Arabia and elsewhere in the Middle East due to the drop in demand for Oil during the Covid pandemic. More than 60% of remittances to India, Bangladesh and Pakistan come from Gulf countries.

 
CADINR at 59.95 has risen 3.4% above its 90-day average, range 56.85-59.98.
1D+0.6%
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Alert:1D+0.6% |

Note that forecasts and predictions for the CAD/INR exchange rate change all the time, affected by news events and relative sentiment towards the Canadian and Indian economies and this exchange rate is even more volatile than usual because of the uncertainties around the Coronavirus pandemic.

The CAD has enjoyed its highest levels against the USD since March 2020. No other currency pair experienced such a dramatic swing since the election was called. Along with global equities, the CAD continues to increase with increased risk appetite. 

You can read more about CAD cross-rate forecasts here CAD Trends and Forecasts for 2020.

 

CAD to INR Exchange Rates – Compare and Save

 

What is a good CAD to INR exchange rate?

Whether the Canadian dollar will rise or drop in the future versus the rupee is a difficult question and the answer really depends on many factors. The best way to consider the current CAD-INR relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.

CAD/INRChangePeriod
59.6919
12 Apr 2021
0.1% ▲1 Week
57.8376
20 Mar 2021
3.3% ▲30 Days
57.5332
19 Jan 2021
3.8% ▲90 Days
54.4892
19 Apr 2020
9.6% ▲1 Year
52.2652
20 Apr 2016
14.3% ▲5 Years
46.5721
22 Apr 2011
28.3% ▲10 Years

CAD/INR 10 year historic rates & change to 19-Apr-2021 : 59.7474

   
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.