After recent sell-offs, the Canadian dollar’s exchange rate remains at 0.76 against the US dollar this morning. CAD continues to perform well as the Canadian employment rate on Friday was higher than anticipated.
Market strategist James Stanley says “the Canadian economy added 378.2K jobs versus an the expectation of 156.6K” meaning the unemployment rate of 9% exceeded the expectation of 9.7% and was well inside of last month’s 10.2% read. With new COVID-19 restrictions placed on both Ontario and Quebec, the success of the loonie and the job market will be watched with a close eye for the next 28 days.
1 CAD is trading against the Sri Lankan rupee at 140.87. Overall shares in Shri Lanka closed higher this week for the fourth session in a row due to industrial and consumer discretionary stocks. The benchmark stock index for LKR was 0.73% at 5,841.05. Expolanka Holdings Plc and Singer Plc were at the top of the index boosting numbers to 16.4% and 11.8% while the Commercial Bank of Ceylon Plc fell 2.6%. According to Reuters exchange data, foreign investors were net sellers in the equity market, offloading shares worth 287.9 million LKR ($1.56 million USD). The LKR exchange rate stands at 184.74 against the US Dollar today.
1 CAD is trading at 55.79 against the Indian Rupee; comparatively 1 USD is trading at 73.31 against INR as of 11:53 am UTC. A long-term increase is still expected in the coming months based on the projected economic stimulus India announced on Monday.
By Surina Nath