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INR → VND · VietnamCanadian Dollar (CAD)
The Canadian Dollar is the official currency of Canada and one of the
world's reserve currencies. For Indian travellers, students, and
families, CAD is one of the most important foreign currencies. Canada
has long been a top destination for Indian students, and Indian
migration to Canada through study, work, and permanent residency
pathways has grown sharply over the past decade.
Check the latest Canadian Dollar to Indian Rupee exchange rate with zero markup.
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About Canadian Dollar (CAD)
The story, the role, and the reach of the canadian dollar — explained for Indian travellers, students and businesses.
The Canadian Dollar is the official currency of Canada and one of the
world's reserve currencies. For Indian travellers, students, and
families, CAD is one of the most important foreign currencies. Canada
has long been a top destination for Indian students, and Indian
migration to Canada through study, work, and permanent residency
pathways has grown sharply over the past decade.
Over 4 lakh Indian students were studying in Canada in 2024.
Indian-origin people make up around 5 percent of Canada's population,
with strong presence in Toronto, Vancouver, Calgary, and Montreal.
India-Canada trade is significant, and CAD remittances from India are
among the highest of any currency.
This page covers what the dollar is, how it moves against the rupee, and
where to buy it in India. For today's live rate, jump to the rate page
below.
A short history
From its origins to the modern canadian dollar you know today.
The Canadian Dollar was introduced in 1858, replacing the Canadian
Pound. Before federation in 1867, individual British North American
colonies had their own currencies. The dollar was adopted in part
because of the strong economic ties with the United States and the
impracticality of maintaining a pound-shilling-pence system across a
continent.
The Canadian Dollar has been a free-floating currency since 1970, when
Canada became one of the first major economies to float its currency,
ahead of the breakdown of the Bretton Woods system. Before 1970, the CAD
was pegged to either gold or the US Dollar at various points.
Canada was a pioneer in polymer banknotes, following Australia. The Bank
of Canada introduced polymer notes between 2011 and 2013, replacing the
older paper notes. Polymer notes are more durable, harder to
counterfeit, and last about 2.5 times longer than paper notes.
The 1¢ penny was withdrawn from circulation in 2013 because production
costs exceeded face value. Cash transactions now round to the nearest
5¢. Card transactions remain to the cent.
Denominations you'll use
The notes and coins in actual circulation — and which ones you'll see most.
Canadian notes are polymer, multi-coloured, and feature Canadian
historical figures: Wilfrid Laurier on the $5, John A. Macdonald on the
$10, Queen Elizabeth II on the $20 (the new $20 with King Charles III is
being designed but not yet circulated), William Lyon Mackenzie King on
the $50, and Robert Borden on the $100.
Banknotes
- $5 (blue)
- $10 (purple, recently redesigned to feature Viola Desmond)
- $20 (green, most commonly dispensed by ATMs)
- $50 (red)
- $100 (brown, largest commonly used note)
Coins
- 5¢ (nickel, silver-coloured)
- 10¢ (dime, the smallest coin physically)
- 25¢ (quarter)
- $1 (loonie, gold-coloured, features a loon bird)
- $2 (toonie, bi-metallic silver and gold)
When buying CAD from Matrix Forex, ask for a mix of $20 and $50 notes
for daily spending. The $100 carries value but is sometimes refused for
very small purchases.
How the CAD moves
The forces and policy decisions that shape its value against the rupee.
The Canadian Dollar is the sixth most-traded currency globally. The
USD/CAD pair is the fifth most-traded currency pair, accounting for 5.3
percent of global FX turnover.
Against the Indian Rupee, the CAD moves based on:
- Bank of Canada policy. Interest rate decisions move the CAD directly.
- Oil prices. Canada is one of the largest oil producers in the world. When oil prices rise, the CAD tends to strengthen.
- The US economy. The US is Canada's largest trading partner. US growth, US Fed policy, and US trade announcements all move the CAD.
- Commodity prices generally. Canada exports oil, gas, lumber, and minerals. Strong commodity prices support the CAD.
CAD/INR has typically traded between ₹60 and ₹70 over the past two
years, with the CAD strengthening recently as the rupee has weakened
against the dollar and most major currencies.
Why Indians buy CAD
The everyday use-cases — travel, education, business — that bring Indians to this currency.
CAD demand from India is dominated by students and family migration,
with the largest single category being student remittances.
Students
Canada is the top destination for Indian students after the US. Over 4
lakh Indian students were studying in Canada in 2024 across universities
like Toronto, McGill, UBC, Waterloo, McMaster, and dozens of community
colleges. Tuition for international students typically runs CAD 25,000
to CAD 60,000 per year. The single largest CAD remittance category from
India is GIC (Guaranteed Investment Certificate) deposits, which we
cover in detail below.
Family support and PR holders
Canadian PR (permanent residency) is one of the most popular skilled
migration pathways for Indians. Family reunification visas, family
support remittances, and initial setup costs all drive CAD demand.
Leisure travellers
Indian tourism to Canada has grown, particularly for the Rockies,
Niagara Falls, Toronto, Vancouver, and Quebec. A typical 10 to 14 day
Canada trip needs CAD 2,000 to CAD 4,000 in spending money.
Business travellers
India-Canada trade is significant in technology, education, energy, and
resources. Business travel between Toronto, Mumbai, Bangalore, and
Calgary is regular and recurring.
Using CAD in Canada
Cards vs cash, ATM tips, common pitfalls — what to know before you travel.
Canada is heavily card-based. Most Canadians rarely use cash for daily
transactions. Interac (Canada's national debit network), credit cards,
Apple Pay, and Google Pay all work universally. Contactless payments are
accepted at almost every retail point. Cash still has some uses,
particularly in tipping and smaller transactions.
Places that prefer cash
- Tips at restaurants and bars (15 to 20 percent expected, often left in cash even when paying the bill by card)
- Tips for taxis, hotel porters, hair salons
- Smaller cafes and food trucks in some areas
- Garage sales and markets
Places where cards work well
- Almost universally across retail, restaurants, hotels
- Public transport (most major cities now accept contactless directly: Presto in Toronto, Compass in Vancouver, OPUS in Montreal, plus contactless bank cards)
- Tourist attractions
- Online and chain shopping
ATMs
ATMs are widely available. Major bank ATMs (RBC, TD, Scotiabank, BMO,
CIBC) are typically cheaper for foreign-card withdrawals than standalone
ATMs in convenience stores. Expect CAD 3 to CAD 5 per withdrawal plus
your Indian bank's international transaction fee.
Tipping culture
Tipping is expected in Canada, similar to the US though slightly less
aggressive. Standard ranges: 15 to 20 percent at restaurants (often 18
percent is the default suggested on payment terminals), 10 to 15 percent
for taxis, CAD 2 to CAD 5 per bag for hotel porters, and 15 to 20
percent at hair salons and spas. Tipping in cash is appreciated even
when paying by card.
How to get CAD in India
Your options — branches, banks, online forex providers, and the airport route.
Cash (CAD notes)
Up to USD 3,000 equivalent per trip in foreign currency notes, roughly
CAD 4,200 at current rates. Matrix Forex sells CAD at the live interbank
rate with same-day delivery across 21 Indian cities. Ask for a mix of
$20 and $50 notes.
Forex card
Load CAD onto a forex card before travel. The Matrix Forex Card supports
28 currencies including CAD, with no markup on the live interbank rate.
Wire transfer (GIC and tuition)
For Canada-bound students, GIC and tuition wire transfers are the main
CAD remittance vehicles. Matrix Forex handles outward remittance under
the LRS, with funds typically reaching Canadian banks within 24 hours.
GIC funds go to participating Canadian banks (ICICI Bank Canada,
Scotiabank, CIBC, RBC, SBI Canada, etc.) and are released to the student
on arrival in monthly installments.
What students actually do
First-year Canada student remittance typically includes: GIC of CAD
22,895, tuition of CAD 25,000 to CAD 60,000, plus CAD 2,000 to CAD 3,000
in cash for arrival expenses, a forex card for daily spending, and an
Indian credit card as backup.
CTA: Go to Live Rate Page · Links to: /canadian-dollar/rate/
Rules and limits
LRS, TCS, KYC and the FEMA rules every Indian needs to know.
USD 3,000 equivalent per trip in foreign currency notes.
USD 2,50,000 per financial year across all purposes.
TCS applies above ₹10 lakh per financial year. For education funded via a Section 80E loan: 0 percent. For self-funded education (most Canada student fees fall here): 5 percent above ₹10 lakh. For travel, family support, and gifts: 20 percent above ₹10 lakh. TCS is adjusted against your final income tax liability.
Effective September 2025, the minimum GIC amount for international students applying for a Canada study permit is CAD 22,895 (updated from the earlier CAD 20,635). This is set by Immigration, Refugees and Citizenship Canada (IRCC) to demonstrate that you have funds to cover living expenses for one year. Note: the Student Direct Stream (SDS), which previously fast-tracked Indian student applications, was discontinued on 8 November 2024. All Indian students now apply through the regular study permit process, where the GIC remains the most accepted proof of funds.
Travellers entering or leaving Canada with CAD 10,000 or more (or its equivalent in foreign currency) must declare it to the Canada Border Services Agency. This rarely applies to leisure travellers but matters for property purchases or large business amounts.
PAN, passport, Canadian visa or study permit (or visa approval letter), and confirmed flight ticket or admission letter. For GIC remittance, you will also need the GIC application reference from the participating Canadian bank.
Keep up to USD 2,000 equivalent in foreign currency notes after return. Matrix Forex buys back unused CAD at the live interbank rate.
Frequently asked questions
distinguish it from the US dollar). It is issued by the Bank of Canada.
Canadian bank that demonstrates an international student has enough
funds to live in Canada for one year. As of September 2025, the minimum
required GIC amount is CAD 22,895. The funds are deposited before
applying for the study permit. On arrival in Canada, around CAD 2,000 is
released immediately, with the rest paid in monthly installments through
the first year.
Indian students now apply for a Canadian study permit through the
regular standard stream. The GIC remains the most widely accepted proof
of funds even under the standard stream.
CAD/INR has typically traded between ₹60 and ₹70 over the past two
years, with recent strengthening as the rupee has weakened.
2,500 in cash plus another CAD 1,500 to CAD 3,000 on a forex card. Costs
vary by city: Toronto and Vancouver are more expensive than smaller
cities. Budget on CAD 150 to CAD 250 per day mid-range.
on Indian-issued credit cards. A forex card avoids this markup.
an authorised dealer like Matrix Forex. You will need the university's
bank details, your PAN, your passport, the student's Letter of
Acceptance (LOA), and the study permit approval. Funds typically reach
Canada within 24 hours.
interbank rate with same-day door delivery across 21 cities, or in
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