Toronto: After remaining under pressure for a long period, the Canadian dollar has begun to show steady strength. According to currency exchange apps, one Canadian dollar is now valued at ₹68 against the Indian rupee.
The Canadian currency has also gained against the US dollar, rising to slightly above 74 US cents. Around three months ago, it was trading close to the 68 US cents level.
Economic experts attribute the strengthening of the Canadian dollar to the financial expertise and policy direction of Prime Minister Mark Carney. Analysts say that instead of yielding to tariff pressures from the United States, the Canadian government has focused on reducing external dependence and exploring new markets for domestic industries. This shift, they believe, has helped improve investor confidence and strengthened the overall economic outlook.
Looking at past trends, the Canadian dollar was trading slightly above the US dollar during 2013–14. However, in the final years of former prime minister Stephen Harper’s tenure, certain policy decisions led to a gradual decline in the currency’s value. The downward trend continued during the tenure of former prime minister Justin Trudeau, with the Canadian dollar eventually slipping to lows near 68 US cents.
Experts also point to Mark Carney’s background as former governor of the Bank of Canada and later the Bank of England, saying his experience in handling global financial challenges has played a key role in stabilising the economy and boosting the Canadian dollar.
