1 Lakh Indian Rupees in Canadian Dollars
Are you planning to travel from India to Canada or conduct international trade between the two countries? If so, you'll need to know the exchange rate between the Indian Rupee (INR) and the Canadian Dollar (CAD). In this article, we'll explore the equivalent value of 1 lakh Indian Rupees in Canadian Dollars.
What is 1 Lakh?
Before we dive into the exchange rate, let's clarify what "1 lakh" means. In the Indian numbering system, "lakh" is a unit equal to 100,000. So, 1 lakh Indian Rupees is equivalent to 100,000 INR.
Exchange Rate: INR to CAD
The exchange rate between the Indian Rupee and the Canadian Dollar can fluctuate frequently due to various economic factors. As of the current date, the exchange rate is approximately:
1 INR = 0.017 CAD
Using this exchange rate, we can calculate the equivalent value of 1 lakh Indian Rupees in Canadian Dollars:
100,000 INR x 0.017 CAD/INR = 1,700 CAD
So, 1 lakh Indian Rupees is approximately equal to 1,700 Canadian Dollars.
Factors Affecting the Exchange Rate
The exchange rate between the Indian Rupee and the Canadian Dollar is influenced by various factors, including:
- Economic indicators: GDP growth rates, inflation rates, and interest rates in both countries can impact the exchange rate.
- Trade relationships: The volume of trade between India and Canada can influence the demand for each currency and subsequently affect the exchange rate.
- Political events: Geopolitical tensions, elections, and policy changes can also impact the exchange rate.
- Market sentiment: Investor confidence and market expectations can also influence the exchange rate.
Conclusion
In conclusion, 1 lakh Indian Rupees is approximately equal to 1,700 Canadian Dollars, based on the current exchange rate. However, please note that exchange rates can fluctuate rapidly, and it's essential to stay updated with the latest rates if you're planning to conduct international transactions or travels.
