CAD Exchange Rate
The 7th most traded currency on the Forex Market is the Canadian Dollar. This is largely due to a significant number of institutions and individuals trading in the Canadian Dollar. Like every currency has a local slang for its currency like bucks for Dollar, Quid for Pound, rokda for Rupee, Canadian people also refer to the CAD as the Loonie, buck, Huard, and Piastre (in French). The Canadian Dollar is held as a reserve currency by a number of central banks. It is also known as a commodity currency, due to the country’s substantial raw material exports.
The most popular CAD exchange rate is the USD to CAD rate. However, due to a significant Indian Diaspora in Canada, CAD to INR or vice versa is very popular too. Getting a good CAD Exchange wasn’t easy a decade ago, as the currency market in India wasn’t transparent and fluctuated a lot. However, due to the entry of online aggregators like BookMyForex who created a disruption in Indian market and brought transparency to it, getting good CAD Exchange rate is easy as ordering food from an app or booking your car through Ola or UBER. BookMyForex revolutionized the forex market in India by breaking myths such as “CAD Rate Today” in order to provide perfect transparency and exception value to our customers. This concept, however, is inherently flawed since the CAD rate varies as per the global demand and supply which is inherent in intra-day currency trading. There simply is no such thing such as a constant “CAD Exchange ” Most currency exchange companies pad on large margins to these “today’s Exchange CAD rates” that they publish. This way they are able to protect themselves from the fluctuations in forex rates throughout the day. With our strong technology infrastructure and our excellent tie ups, we’re able to provide our customers with perfectly live and transparent CAD Convert rates.
BookMyForex hosts a full suite of forex products and you can buy or sell CAD forex cards, CAD traveler’s cheques and CAD currency notes. In addition, you can also make international remittances using CAD swift transfers and CAD Demand Drafts.