Canada is a one of the world’s largest remittance source. Canada is a cosmopolitan country and has migrants from all over the world. France, Philippines, China, India etc. receive good amount of remittances from Canada. In year 2015, over $ 23 billions were sent from canada to other countries. Canada only received $1.3 billion of remittance inflow.
A big portion of remittance inflows to Canada is to support migrant students from various countries. Their families want them to receive maximum value for the money sent to them. For such requirement, they can rely on a unified platform to explore, compare and sent money. Exchange Rate IQ offers all remittance related information at a single place.
When you want to send money to Canada, you can explore various options and compare them for exchange rate, fee, transfer time etc. and get an estimated value of CAD for amount being transferred. This will help you find the best option to transfer money safely to Canada.
Current Exchange Rate(Mid Market) :- 1.2995 CAD/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.