Getting the best available CAD Rate Today with BookMyForex

In case you are looking for the best Canadian dollar exchange rate in your city, you can try BookMyForex, which provides foreign exchange at live exchange rates. As the currency exchange market is highly volatile nature, the Canadian dollar exchange rate keeps changing throughout the day. You can check the live Canadian dollar rates at the full rate card page at BookMyForex.com.

Canadian Dollar Profile

Canadian Dollar is the official currency of Canada which is also abbreviated as CAD in the international currency exchange markets. It is also represented as C$ or CA$ symbolically to differentiate it with other dollar-denominated currencies. A Canadian dollar is subdivided further into 100 cents. 

At present, Canadian dollar forms about 2% of global currency reserves which makes it fifth most held reserve currency in the world after the US Dollar, Euro, Yen and British Pound. It also implicates that the Canadian Dollar is considered as a stable currency in the world. 

Click Here to Know More About Canadian Currency

As per a report, about 3 lakh Indians visited Canada in 2018 only which was the highest number of people travelling to Canada from the entire Asia-Pacific region.

If you are planning to travel to Canada in the near future, you would certainly require Canadian Dollars to transact there. You can now buy or sell CAD at the best Canadian dollar exchange rate in your city online with BookMyForex which is India's first and largest online currency exchange marketplace.

Why Should You Purchase Canadian Dollars from BookMyForex?

Live Rates: With BookMyForex you buy/sell Canadian Dollars (CAD) at live and transparent rates. The rates are dynamic and are updated every few seconds. Thus, you end up saving anywhere between 2% - 3% over other foreign exchange agencies which provide foreign exchange at a fixed rate for the day.  

Best Exchange Rate: You don’t need to haggle to get better rates as BookMyForex scans the exchange rates quoted by 100s of money changers near to your location and provides you with the best Canadian Dollar exchange rate.

Online Order Facility: While banks and other institutions require making in-person visits, you can buy or sell Canadian Dollars online with the comfort of your own home. 

Doorstep Delivery: When you buy Canadian Dollars from BookMyForex, you not only complete the process of booking from the comfort of your home but you also get your currency delivered right at your doorstep. 

Rate Freeze Feature: With this feature, you can ‘lock-in’ a specific rate for up to 3 working days by paying a refundable deposit of 2% of your total amount. 

Better CAD Exchange Rates than Indian Banks

Though you can purchase foreign exchange including Canadian Dollars from multiple places in India such as from your bank, a nearby local money changer or at the airport itself but a well-known currency exchange marketplace such as BookMyForex which function on aggregator model and provide Canadian Dollars at live rates, fares better than banks.

Here is a comparative analysis between BookMyForex and other money changers such as a bank, showcasing the reasons why bookmyforex is better on key parameters:

How to buy/sell Canadian Dollars or convert CAD to INR  from BookMyForex? 

Buying/Selling Canadian Dollars can be done in 4 simple steps through BookMyForex. 

Step 1: Go to BookMyForex.com or simply call at 9212219191 or download BookMyForex app on your mobile.

Step 2: Select the currency (INR to CAD) and enter the amount that you want to exchange

Step 3: Upload KYC documents mandated by the RBI which includes Passport, Visa, Air Ticket    and PAN card details

Step 4: Opt for doorstep delivery or collect your currency from our nearby store on successful payment. That simple!

Benefits of Purchasing Canadian Dollars at BookMyForex.com

• A one-stop-shop for all forex products
• Huge saving guaranteed as compared to CAD to INR exchange rates offered at airports, banks and money exchangers
• Live and completely transparent CAD to INR exchange rates
• Freeze or lock-in the exchange rate by paying only  2% of the refundable deposit fee.
• Free doorstep delivery for orders over Rs. 100000/-
• 24*7 assistance from the customer support team. 
• A robust network of 5000+ reliable channel partners in 650 cities in India
• Get instant rate alerts when your desired rate is available 
• Referral and loyalty schemes ensure big savings on subsequent orders
• Special offers for students

Canadian Dollar Forecast for 2020

The Canadian Dollar’s fortunes in 2019 were dominated by the trans-Pacific trade war between the United States and China, a dispute in which Canada’s resource economy has a large interest but virtually no say. Click here to know more about which factors would determine the Canadian Dollar exchange rates in the year 2020 and in what range would the CAD to INR exchangge rate trade?

Frequently Asked Questions (FAQs)

Q1. Should I buy CAD 3-6 months before my trip?

Ans. No, as per the RBI guideline, the traveller must be travelling abroad in the next 60 days of currency purchase. It means that you can purchase foreign currency not before 60 days prior to the date of travel.

Q2. Is the Canadian Dollar (CAD) a stable currency?

Ans. The stability of a currency can only be determined relative to some other currency, not in absolute terms. If you look at the historical charts of CAD to INR exchange rate, it has traded in the range of INR 47-56 with an average around INR 52-53. Therefore, historical data of CAD to INR rates indicate that from a long term perspective, it was quite a stable pattern of exchange rates, however with some volatility in the short term.

Q3. Which is the best place to buy Canadian dollars (CAD) in India?

Ans. You can purchase Canadian Dollars from multiple places in India such as from a nearby bank, some local money changer, at the airport or from an online currency exchange marketplace. However, if you are also looking for the best Canadian dollar rates and great convenience, you can opt for a trusted currency exchange marketplace. Being a digitally enabled platform, BookMyForex checks and compares Canadian Dollar rates quoted by 100s of money changers available near to your location and provides you with the best CAD rate. You can place your order online with the comfort of your own home and get your forex delivered directly to your doorstep.

Q4. How long does it take BookMyForex to provide doorstep delivery?

Ans. Orders received prior to 1 pm are delivered on the same business day. Any order received after 1 pm may still be delivered on the same business day but in the worst-case scenario, BookMyForex guarantees delivery on the next business day.

Q5. How can I sell Canadian Dollars (CAD) in India?

Ans. You can both buy and sell Canadian Dollars online from a trusted currency exchange marketplace such as BookMyForex. Though you can also sell CAD to traditional places such as a nearby bank or to a local money changer. However, that would involve making in-person visits, paying higher mark-up fee and going through a complex documentation process. An online currency exchange marketplace would fare better both in terms of cost as well as convenience.