Analysis of recent rupee→loonie forecasts. We collate forecasts from respected FX analysts together with the latest INR to CAD performance and trends.
Forecasts for INR to CAD
14-DAY▲HIGH1d
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According to recent exchange rate forecasts and currency market updates, analysts predict a slightly weaker Indian rupee (INR) against the Canadian dollar (CAD) in the coming months. The INR has been steadily weakening against the US dollar due to concerns about rising energy prices and potential inflationary pressures. As India is the third-largest oil-consuming country and heavily reliant on oil imports, higher crude prices can lead to domestic inflation and negatively impact the rupee.
On the other hand, the CAD has been under pressure against the US dollar mainly due to market sentiment and global risk-on and risk-off environments, rather than fundamental factors related to Canada's economy. Continued declines in housing prices and potential adverse wealth effects could further weigh on the Canadian dollar. Additionally, as Canada's largest market for oil is the US, movements in oil prices can also influence the CAD.
Considering the recent price data, the INR to CAD exchange rate is currently near its three-month average, trading within a relatively stable range. However, it's important to note that the CAD can be impacted by oil price movements. The recent data indicates that oil prices have been relatively high, trading 11.4% above its three-month average. This may put some upward pressure on the CAD.
Overall, FX analysts and economists foresee a slightly weaker INR against the CAD in the near term. Factors such as the impact of rising energy prices on the Indian economy and market sentiment affecting the Canadian dollar are likely to influence the exchange rate dynamics between these two currencies.
Compare & Save - Indian rupee to Canadian dollar
Exchange rates can vary significantly between different currency exchange providers, so it's important to compare
Indian rupee (INR) to Canadian dollar (CAD) rates from different sources before making a conversion.
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makes it easy to compare the Total Cost you are being charged on rupee to loonie currency rates and the possible savings of using various providers.
@bestfxrates : 29 Sep Exchange Update: FX analysts forecast a somewhat weaker INR against the CAD in the coming months. Steadily rising energy prices likely impact INR’s performance, given India's oil import reliance. CAD's behavior under scrutiny due to market sentiment & global risk factors. INR to CAD trades near it's 3-mo average, but oil price changes may influence CAD. Stay informed! #CurrencyMarket #INR #CAD #Forex
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0.016339We compare provider deals to this wholesale mid-market rate. Read more
CAD
INR to CAD is at 14-day highs near 0.016339, just 0.7% above its 3-month average of 0.016225, having traded in a very stable 3.1% range from 0.015985 to 0.016488
Will the Indian rupee rise against the Canadian dollar?
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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