Analysis of recent rupee → loonie forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Indian rupee to Canadian dollar performance and trends.
Forecasts for INR to CAD
Recent market updates indicate a period of heightened volatility for the Indian rupee (INR) against the Canadian dollar (CAD) due to shifting political dynamics and economic concerns linked to energy prices. The INR has notably weakened against the US dollar, hitting an all-time low of 84.3625, as expectations surrounding Donald Trump's potential presidency have intensified fears of inflation and interest rate hikes in India. According to FX analysts, these conditions, compounded by increased corporate taxes and deregulation in the U.S., are likely to stimulate American growth, further disadvantaging the INR amidst a broad sell-off of Asian currencies.
On the CAD side, the currency has been adversely affected by ongoing tariff concerns and fluctuating oil prices. The CAD has struggled as markets grapple with the implications of potential U.S. tariffs on Canadian commodities, particularly as oil prices remain volatile. Recent trading shows CAD at approximately 0.016361 INR, which is 1.9% below its three-month average and within a narrow range of fluctuation. Oil, trading at 74.64 USD per barrel, has also been experiencing significant volatility, with a 15.7% range between 71.04 and 82.16 USD. Such movements underscore the sensitivity of the CAD, a commodity-linked currency, to energy prices; any further declines could dampen demand for the CAD as economists express caution over potential downward pressures on oil and the associated Canadian exports. Overall, traders and businesses are advised to monitor geopolitical developments closely, as both currencies face uncertain trajectories influenced by upcoming U.S. policies and global commodity prices.
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.
Use our
INR to CAD 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 Rupee to Loonie currency rates and the possible savings of using various providers.
Will the Indian rupee rise against the Canadian dollar?
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.
To help with this you can add INR/CAD to your personalised Rate Tracker to track and benefit from currency movements.
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