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

Best GBP to CAD exchange rates as of 23 Feb 2018

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 | Fri, 23 Feb 06:13pm GMT
USD AUD CAD EUR CNY GBP INR MXN PHP
1 USD = 1.0000 1.2772 Inverse: 0.7830 1.2661 Inverse: 0.7898 0.813038 Inverse: 1.2300 6.3382 Inverse: 0.1578 0.715651 Inverse: 1.3973 64.915 Inverse: 0.0154 18.5469 Inverse: 0.0539 51.7415 Inverse: 0.0193
1 AUD = 0.7830 Inverse: 1.2772 1.0000 0.9913 Inverse: 1.0087 0.6366 Inverse: 1.5709 4.9626 Inverse: 0.2015 0.5603 Inverse: 1.7846 50.8268 Inverse: 0.0197 14.5217 Inverse: 0.0689 40.5123 Inverse: 0.0247
1 EUR = 1.2300 Inverse: 0.8130 1.5709 Inverse: 0.6366 1.5573 Inverse: 0.6421 1.0000 7.7956 Inverse: 0.1283 0.880218 Inverse: 1.1361 79.842566 Inverse: 0.0125 22.8118 Inverse: 0.0438 63.6397 Inverse: 0.0157
1 GBP = 1.3973 Inverse: 0.7157 1.7846 Inverse: 0.5603 1.7692 Inverse: 0.5652 1.1361 Inverse: 0.8802 8.8565 Inverse: 0.1129 1.0000 90.707669 Inverse: 0.0110 25.9161 Inverse: 0.0386 72.2999 Inverse: 0.0138

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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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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