canada currency converter to indian rupees

#Canada currency converter to indian rupees how to

Let’s assume you want to pay your suppliers in India. After all, businesses should prioritize maximizing profits, and individuals should take advantage of every opportunity to save and pocket cash when sending money abroad. It’s natural to look for the cheapest way to exchange CAD to INR as the first port of call. That said, your only motivation shouldn’t be to save money when converting currency, but to get the best possible value from your provider in terms of speed, convenience, security, and support.īefore you convert CAD to INR, here’s what you need to know to get your money’s worth. If you’re moving money to India, your biggest concern is the CAD to INR exchange rate. One of the most popular currencies (top five)² being changed is the Indian Rupee. Individuals are also looking to buy property abroad, pay for overseas tuition fees, fund a wedding abroad, and make foreign mortgage payments, among other things. It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.Moving money from Canada to India? Finding the best exchange rate to convert Canadian dollars to rupees is crucial, along with low transfer fees and quality service.Ĭanada has seen a surge in demand¹ for online overseas money transfer services as businesses expand globally. Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around. Travel money and possibly over 5% to 6% when sending money. The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for These fees is usually contained within the exchange rate margin (or difference to the mid-rate). However working against you are the fees all foreign exchange providers charge for providing their service. Generally speaking, if you are buying Canadian dollar with Indian rupee, then it's better for the INR/CAD exchange rate to be higher.

The key is reducing excessive costs and fees

Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.

It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.

Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both INR and CAD at close to the interbank rate.

Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.

You can do this easily with our BER Smart Rate Tracker. Try to make your transactions when the exchange rate is in your favor.

Timing is important: Keep an eye on the INR/CAD rate on currency markets, as exchange rates can fluctuate frequently.

Shop around for the best INR/CAD exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.

There are several ways to save on exchange rates when converting Indian rupee to Canadian dollar:

#Canada currency converter to indian rupees how to

How to get a good INR to CAD exchange rate