Best GBP > CAD exchange rates October 2018 | finder.com
Best GBP to CAD exchange rates

Best GBP to CAD exchange rates as of 21 Oct 2018

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Find the best exchange rate when converting your British pounds to Canadian dollars.

If you’re a forex investor or simply looking to trade British pounds for Canadian dollars, get the most for your money with a strong exchange rate.

Today’s mid-market rate

The mid-market pound-to-dollar exchange rate is 1 GBP = 1.64 CAD. (Rate accurate as of February 23, 2017.)

Get the best rate for your GBP > CAD exchange

We’ve gathered today’s best rates to inform your forex decisions when trading British pounds to Canadian dollars.

Refreshing in: 60s | Sun, 21 Oct 06:45am GMT
USD AUD CAD EUR CNY GBP INR MXN PHP
1 USD = 1.0000 1.4045 Inverse: 0.7120 1.3115 Inverse: 0.7625 0.86744 Inverse: 1.1528 6.9296 Inverse: 0.1443 0.764995 Inverse: 1.3072 73.473469 Inverse: 0.0136 19.2699 Inverse: 0.0519 53.643753 Inverse: 0.0186
1 AUD = 0.7120 Inverse: 1.4045 1.0000 0.9338 Inverse: 1.0709 0.6176 Inverse: 1.6191 4.9339 Inverse: 0.2027 0.5447 Inverse: 1.8360 52.3129 Inverse: 0.0191 13.7201 Inverse: 0.0729 38.1942 Inverse: 0.0262
1 EUR = 1.1528 Inverse: 0.8674 1.6191 Inverse: 0.6176 1.5119 Inverse: 0.6614 1.0000 7.9886 Inverse: 0.1252 0.8819 Inverse: 1.1339 84.7015 Inverse: 0.0118 22.2147 Inverse: 0.0450 61.8415 Inverse: 0.0162
1 GBP = 1.3072 Inverse: 0.7650 1.8360 Inverse: 0.5447 1.7144 Inverse: 0.5833 1.1339 Inverse: 0.8819 9.0584 Inverse: 0.1104 1.0000 96.044378 Inverse: 0.0104 25.1895 Inverse: 0.0397 70.1230 Inverse: 0.0143

How does the British pound trade against the Canadian dollar historically?

The British pound and Canadian dollar have a long history. The relationship between Britain and Canada has always been intimate — the countries once shared a military, a government system and heads of state. Despite the two nations sharing a legacy, they have grown apart both economically and politically.

In the 19th century, Britain was Canada’s largest trade partner, with the British pound valued at more than 2.0 CAD. In the 20th century, the exchange rate has averaged at 2.03, but the last 10 years have brought the GBP > CAD exchange rate to under 2.0.

The decline of the British pound accelerated after the “Brexit” vote. Since the Brexit referendum — or Britain’s proposed exit from the EU — in June 2016, the GBP has gradually declined against the CAD, reaching 1.63 in January 2017 compared with 1.97 a year earlier.

The past can be a good indicator of the future. Throughout its exchange rate history, the British pound has dominated against the Canadian dollar. But in the past 10 years, the Canadian dollar has become the stronger currency. With the UK’s looming exit from the EU, it’s likely that the British pound will decrease further.

Exchange rate history: British pound to Canadian dollar

Using historical data to forecast the GBP/CAD exchange rate

We’ve put together the annual average exchange rate for the British pound against the Canadian dollar from 2007 to 2016.

2016201520142013201220112010200920082007
GBP = CAD1.7971221.9550111.8187361.6120291.584351.5862411.5929051.7801861.9624262.147933

Here’s the monthly average exchange rate for the British pound against the Canadian dollar over the past 12 months.

MonthGBP = CAD
Jan. 20171.631364
Dec. 20161.6656
Nov. 20161.675481
Oct. 20161.638624
Sept. 20161.722513
Aug. 20161.700943
July 20161.712525
June 20161.83704
May 20161.878072
April 20161.835699
March 20161.886124
Feb. 20161.976514

What affects GBP > CAD exchange rates?

Factors that affect how any currency trades against another are sociopolitical atmosphere, prices and inflation rates, foreign trade and monetary policy and export-to-import price ratios.

Less aggressive factors are consumer confidence about the economy and economic growth, the strength of other currencies, investor speculation and day-to-day news about natural disasters, elections and new government policies.

Compare today’s rates from providers who can send GBP to CAD

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$0 3 - 5 days GBP 0.00 1.7 CAD 8,499 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1,000 1 day GBP 0.00 1.699 CAD 8,495 Exclusive offer: $0 transfer fee
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USD 1 Within an hour GBP 3.99 1.699 CAD 8,488 Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
GBP 5,000 1 - 2 days GBP 0.00 1.697 CAD 8,486 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

Compare up to 4 providers

Bottom line

The UK and Canada have enjoyed excellent trade and exchange rates in the past. But the last 10 years have resulted in a decrease in the British pound’s value against the Canadian dollar.

When exchanging British pounds for Canadian dollars, find a provider that offers two-sided quotes to understand the spread they charge. If they show you only the buy or sell rate — but not both — consider looking elsewhere. Ultimately, the closer you can get to the mid-market rate, the better the deal.

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