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Best CAD to GBP exchange rates today
Check the mid-market rate before buying the British pound.
See how the Canadian dollar fares against the British pound, and find the best exchange rate for your international money transfer.
Today’s mid-market rate
Refreshing in: 60s | Tue, Jan 28, 04:39AM GMT
Buy Canadian dollar with British pound
When is the best time to buy?
The best time to buy GBP depends on many factors including sociopolitical atmosphere, interest and inflation rates, foreign trade, public debt, and export to import price ratios.
After the Brexit vote for Britain to leave the EU, the GBP has struggled to maintain its value. In the years since the vote in 2016, GBP has dropped, and could fluctuate as a result of upcoming elections and votes on how to leave the EU continue.
How does the CAD trade against GBP historically?
Throughout history, the Canadian dollar has traded lower than Great Britain’s pound. From February 2002 to November 2015, 1 Canadian dollar traded at an average of £0.53.
Since 2000 the Canadian dollar strengthened against the pound — mostly due to Canada’s growing economy — with more commodity exports and demand for its natural resources. The pound, on the other hand was weakening, helping the Canadian dollar climb above £0.50 in 2007.
The 2008 global financial crisis spread to the UK and Europe, causing a downturn in economic growth in Britain. As the UK continued to grapple with concerns around public debt, the Canadian dollar continued to rise, and peaked at £0.6685 in May of 2010. By 2013, the Canadian economy slowed and has since returned to about the £0.50 mark, with Brexit and USMCA looming to affect trade.
CAD to GBP exchange rate history
Consider the history of these to currencies to help make a prediction about the best time to trade. Find the average exchange rate for the past week.
|Jan 21||Jan 22||Jan 23||Jan 24||Jan 25||Jan 26||Jan 27|
|1 CAD =||0.5863 Inverse: 1.7057||0.5789 Inverse: 1.7275||0.5806 Inverse: 1.7223||0.5818 Inverse: 1.7189||0.5818 Inverse: 1.7189||0.5817 Inverse: 1.7191||0.5806 Inverse: 1.7223|
Average exchange rate over the past 6 months.
|Aug 2019||Sep 2019||Oct 2019||Nov 2019||Dec 2019||Jan 2020|
|1 CAD =||0.6179 Inverse: 1.6185||0.6065 Inverse: 1.6489||0.5869 Inverse: 1.7039||0.5879 Inverse: 1.7010||0.5743 Inverse: 1.7413||0.5815 Inverse: 1.7196|
Average exchange rate over the past 10 years.
|1 CAD =||0.5661|
What affects CAD to GBP exchange rate?
Troubles in Britain and slowing trade in Canada both look to affect the exchange rates. Watch for the affects of the trade agreement, USMCA and the departure of the United Kingdom from the EU.
As world events change the political climate and trade around the world, we will see change in the forex market. Before you trade your CAD for GBP, find the mid-market rate and go with a service that offers a rate as close to it as possible.
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