I am surprised by what I'm seeing with these different search engines when looking for the CAD-INR exchange rate.

All of these were searched within a minute of each other.

Bing (and Yahoo)

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Wolfram Alpha

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What is the actual market rate?

When I say "actual", I am not looking for an exchange rate that I would actually get if I wanted to exchange my money. I am looking for the market rate which is the basis against which a bank or other entity would then take their cut.

For instance, if the market rate is 1 CAD = 52 INR, bank X might actually give me 51 INR per dollar.

In the above example, I am looking for the number that is analogous to the 52.

  • 4
    How do you want to define "the actual" here as different providers may offer different prices that is just how the world works.
    – JB King
    Jan 9, 2015 at 23:48
  • I have edited my question
    – karancan
    Jan 10, 2015 at 1:57
  • 2
    I'm pretty sure there are numerous deals being done at the same time at various rates in the world. Do you have any evidence for how there is just one rate and not the ambiguous rates?
    – JB King
    Jan 10, 2015 at 2:16
  • Most sites have different rates for "buy" versus "sell" and these can also be dependent on the amount that one wishes to buy or sell: the rate at which you exchange 100 dollars is poorer that the rate at which you will be able to exchange 10,000 dollars. In part, this is because in many cases, there is a flat fee charged for the transaction (not part of the exchange rate) and this can make a big difference in the effective rate for small transactions. Jan 10, 2015 at 4:00

1 Answer 1


There is nothing called actual, unless you convert currency. There are real offer rates that are slightly different from Bank to Bank. Search Engines give a generic average value based on the sites they are trust / have tie-up with.

Banks don't use google or search engines to get the basis, they have quite a bit more info and there is a specific Treasury function that would look at the trend and give out a huge spread between buy and sell.

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