1 Canadian Dollar to Pakistan Rupees: An Overview
The Canadian dollar (CAD) is the official currency of Canada, while the Pakistani rupee (PKR) is the official currency of Pakistan. In this article, we will explore the current exchange rate between the two currencies and provide an overview of their economic relationship.
Current Exchange Rate
As of [Current Date], the exchange rate is:
1 CAD = approximately 120 PKR
This exchange rate is subject to fluctuation based on various economic factors, including inflation rates, interest rates, and trade policies.
Economic Relationship Between Canada and Pakistan
Canada and Pakistan have a strong economic relationship, with bilateral trade valued at over $1.5 billion annually. Pakistan is Canada's 43rd largest trading partner, with major exports including textiles, machinery, and electronics. Canada is also a significant investor in Pakistan, with investments in sectors such as energy, mining, and infrastructure.
Factors Affecting the Exchange Rate
Several factors can influence the exchange rate between the Canadian dollar and the Pakistani rupee, including:
Inflation Rates
Inflation rates in both countries can impact the exchange rate. A higher inflation rate in Pakistan can lead to a decrease in the value of the Pakistani rupee, making it weaker against the Canadian dollar.
Interest Rates
Changes in interest rates set by central banks in both countries can also affect the exchange rate. Higher interest rates in Canada can attract investors, causing the Canadian dollar to appreciate against the Pakistani rupee.
Trade Policies
Trade agreements and policies between Canada and Pakistan can influence the exchange rate. Trade liberalization policies, for example, can increase trade between the two countries, leading to a stronger Pakistani rupee.
Conclusion
The exchange rate between the Canadian dollar and the Pakistani rupee is influenced by various economic factors. Understanding these factors is essential for businesses and individuals involved in international trade between Canada and Pakistan.
