#remittancenews

[remitanalyst]

Why is the CAD to INR Exchange Rate Down today on 31st July 2023 (2nd half of July 2023)?

Based on the financial data as of July 31, 2023, it is apparent that the Canadian dollar has demonstrated a positive trend in its valuation relative to the Indian rupee. The prevailing exchange rate of 1 Canadian Dollar (CAD) to 60 Indian Rupees (INR) substantiates this statement. The observed appreciation can be attributed to the sustained and favorable trajectory in the Canadian dollar's valuation over time. In the latter half of July 2023, the exchange rate between the two currencies exhibited significant volatility, fluctuating between a high of 62.50 and a low of 61.25. According to our comprehensive analysis, the computed standard deviation of the trend curve equates to 0.135 rupees. Read More

[remitanalyst]

Why is the CAD to INR Exchange Rate Down today on 30th June 2023 (2nd half of June 2023)?

Key points:

Canada Dollar to Indian Rupee Exchange Rate decreases.

The Bank of Canada has recently decided to increase interest rates.

Based on our financial analysis, it is anticipated that the interest rates in India will experience a 25 basis point surge by 2023. This upward movement will increase the current rate of 6.5 percent, aligning it with the projected level.

Both the Indian and Canadian economies have witnessed a notable uptick in inflation and unemployment rates in recent times.

As of the reporting date of June 30, 2023, it is observed that the Canadian dollar has demonstrated a positive trend in value relative to the Indian rupee, as evidenced by the prevailing exchange rate of 1 CAD to 60 INR. The observed appreciation can be ascribed to the sustained upward trajectory of the Canadian dollar's value throughout the years. In the latter part of June 2023, the exchange rate between the two currencies experienced significant volatility, exhibiting fluctuations ranging from a high point of 62.44 to a low end of 61.35. The standard deviation of the trend curve has been determined to be 0.135 rupees. The Canadian dollar has experienced a notable appreciation in response to recent fluctuations in the exchange rate. 

The product has experienced a substantial decline in its price, plummeting from 5055 rupees to a mere 60 rupees. The potential for asset overvaluation may be attributed to trade deficits or abrupt increases in demand and pricing for petroleum products. Read More

[remitanalyst]

Why is the USD to INR Exchange Rate Up today on 30th June 2023 (2nd half of June 2023)? According to economic analysts, India's economic growth trajectory is projected to experience a significant transformation beyond the year 2023. Despite the prevailing global economic downturn, it is noteworthy that the economic conditions in the United States have displayed promising signs of improvement. India's Gross Domestic Product (GDP) experienced a notable expansion of 13.5% during the most recent quarter. The rupee maintained a steady valuation. Financial analysts generally tend to favor assessing India's economic growth through annual measurements instead of quarterly ones.

The Reserve Bank of India's (RBI) synergistic endeavors with various governmental entities have yielded favorable outcomes for the Indian economy. The recent actions taken by the government, including the increase in interest rates and the implementation of trade restrictions, have had a favorable effect on the economy and currency.

[remitanalyst]

As of June 15, 2023, the Canadian dollar has appreciated against the Indian rupee, with an exchange rate of 1 CAD to 60 INR. This appreciation can be attributed to the consistent growth in the value of the Canadian dollar over the years. During the first half of June 2023, there was significant volatility in the exchange rate between the two currencies, fluctuating between a peak of 61.9 and a trough of 60.65. The calculated value for the standard deviation of the trend curve is 0.135 rupees. The appreciation of the Canadian dollar has been observed in light of recent fluctuations in the exchange rate. There has been a significant reduction in the cost of the product from 5055 rupees to 60 rupees. Overvaluation of assets could arise due to trade deficits or sudden surges in demand and pricing for petroleum products.