Overview:
Canadian dollar (symbol: CAD or $) is the official currency of Canada and it is also recognized as legal tender. It is one the most actively traded currencies in the foreign exchange market and is one of five most reserve-held currencies in the world. Royal Canadian Mint located in Winnipeg in the province of Manitoba mints the Canadian dollar. The economy of Canada ranks as the ninth-largest by nominal GDP in the world which makes Canadian dollar the most reliable currencies to have.
History of Canadian Dollar:
From 1854 until the World War I in 1914, Canada used gold standard as form of currency. Both USD and British pound used to be legal tender in Canada during this period. During World War I when gold standard was temporarily suspended and abolished in 1933 gave Canadian government freedom to control its economy. In 1934 Bank of Canada which was established became the sole issuer of currency with authority to regulate monetary policies of the country.
Post World War II Canada became the first country to allow its currency to float which allowed exchange rate to flexible which ended in 1962. In 1970 with rising inflation it was allowed to float and has been permanent hence popularly called “commodity currency” as it’s primarily influenced by price of commodities.
Canadian dollar is popularly known as “loonie” the loon bird featured on one side of Canada's $1 coin, opposite of Queen Elizabeth II.
Evaluation of Canadian dollar:
What factors drives Canadian dollar? Let us learn how the exchange rate of currency changes due to various factors.
Interest rates: Change in interest rates by Bank of Canada influences Investor behaviour which affects the exchange rate of Canadian currency. Higher interest rates attract investors for better returns which improves the confidence of investors thus influencing foreign investments into country which helps in having a stronger Canadian dollar.
Commodity trade: Canadian currency which is often known as commodity currency is majorly influenced by price of commodities Canada trades such as oil, timber, minerals and metals. When global commodity prices increase which influences stronger Canadian dollar as: 1) foreign investment increases due to stronger commodity price. 2) Higher exports affecting the GDP and attracting investments into country.
Inflation: Higher inflation affects expenditure behaviour of people thus affecting economy and exchange rate of Canadian dollar. Intervention from Bank of Canada to keep inflation in check often helps protect investor sentiment.
Fiscal policy and politics: Stable political environment with strong leadership and a tight fiscal policy from Canadian government has helped reduce fiscal expenditure and raise tax rate, which will suppress the rise of aggregate demand and prices help to improve a country's trade balance and international balance of payments, and thus cause the rise of exchange rate of Canadian dollar.
Looking to Buy/Sell Canadian Dollar for Best Exchange Rate in India? Your search stops right here.
Looking to sell or buy Canadian Dollar (CAD) in India at the best exchange rate? Your search stops right here! Orient Exchange offers competitive rates, transparent pricing, and a smooth currency exchange experience. Whether for travel, business, or studies, enjoy safe, quick, and reliable forex services with us.
Your next thought would be why opt for orient exchange? Well Orient exchange is RBI authorised money changer which not only offers best exchange rate for Canadian Dollar in India but also provides best customer service experience making your business with us effortless and worthwhile.
Not keen on getting your currency exchange done online? Well Orient exchange has nearly 26 branches all over India you can visit your nearest branch and get best exchange rate for Canadian Dollar you can ask for. Or Want to get your currency exchange done at comfort of your home? Well Orient exchange has it covered you can place order and relax with features such as live order tracking simply login and track your order with ease.
What makes orient exchange best way to get your currency exchange for Canadian dollar in India? Let’s us consider an example for exchange rate for Canadian Dollar on 07/08/2025
| Orient Exchange | Others | |
|---|---|---|
| Canadian Dollar | 64.66Rs | Anywhere between 65 to 66.5Rs. |
Not only do other players in market have higher exchange rate but also has include mark-up fees and some even charge service charge for processing the currency exchange. Opt wisely Opt for Orient exchange.
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https://www.orientexchange.in/
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- 24/7 Online booking
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https://www.orientexchange.in/transfer-money-from-india-to-canadaOther currencies Overview
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