On May 1st, the price stood at 103.98 CAD, but it dropped to 86.75 CAD on May 4th, 2023. Fluctuations in crude oil prices serve as a reliable indicator of global economic health. Budget deficit and national debt levelsĬrude oil plays a significant role in India's energy landscape, catering to approximately 80% of the country's annual demand.Several factors affect the CAD to INR exchange rates: A few potential factors contributing to this overvaluation include imbalances in foreign capital and the escalating price and demand for petrol. Previously priced at 5055 rupees, this product now stands at 60. The strengthening of the Canadian dollar can be attributed to these recent oscillations in the exchange rate. These fluctuations are depicted by a trend curve with a standard deviation of 0.292 rupees. The recent volatility in exchange rates has contributed to this shift, reaching a peak of 61.37 on May 8, 2023, and a low of 59.56 on May 1, 2023. This marks a notable progression following a period of consistent growth. In the realm of currency exchange, the Canadian dollar has experienced significant fluctuations, leading to its current value of 60 Indian rupees as of April 30, 2023. Recent developments indicate that both India and Canada have witnessed an increase in inflation and unemployment rates.
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