Best CAD to GBP exchange rates today | finder.com

Best CAD to GBP exchange rates today

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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

Live Rate

= £ 0.5845

Refreshing in: 60s | Mon, 20 May 01:16pm GMT

Historical rate chart of GBP and CAD

1
0
Updated: 20 May 2019 13:16:37 UTC

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USD 0 1 - 2 days CAD 0.00 0.577 GBP 2,887 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
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USD 1,000 1 day CAD 0.00 0.576 GBP 2,881 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
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The exchange rates in the table are not locked in. Confirm your final rate on the provider’s site before completing any transaction.

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.

May 13 May 14 May 15 May 16 May 17 May 18 May 19
1 CAD = 0.5722 Inverse: 1.7475 0.5756 Inverse: 1.7373 0.5791 Inverse: 1.7270 0.5805 Inverse: 1.7228 0.5838 Inverse: 1.7131 0.5838 Inverse: 1.7131 0.5841 Inverse: 1.7119
  

Average exchange rate over the past 6 months.

Dec 2018 Jan 2019 Feb 2019 Mar 2019 Apr 2019 Apr 2019
1 CAD = 0.5873 Inverse: 1.7028 0.5865 Inverse: 1.7049 0.5820 Inverse: 1.7182 0.5643 Inverse: 1.7720 0.5747 Inverse: 1.7399 0.5751 Inverse: 1.7390
  

Average exchange rate over the past 10 years.

2009201020112012201320142015201620172018
1 CAD =0.5661
Inverse: 1.7666
0.6474
Inverse: 1.5447
0.6313
Inverse: 1.5839
0.6260
Inverse: 1.5974
0.6371
Inverse: 1.5695
0.5401
Inverse: 1.8514
0.5442
Inverse: 1.8376
0.5454
Inverse: 1.8337
0.5668
Inverse: 1.7642
0.5658
Inverse: 1.7673

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.

Bottom line

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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2 Responses

  1. Default Gravatar
    DianeMay 8, 2018

    I am travelling to Great Britain this fall. I would like to know whether I should convert by CDN dollars to British pounds before travelling?

    Also, is it better to put expenditures on my credit card or should I use cash?

    • Avatarfinder Customer Care
      JoshuaMay 8, 2018Staff

      Hi Diane,

      Thanks for getting in touch with finder. I hope all is well for you. :)

      Let me answer your question one by one:

      1. Should convert by CDN dollars to British pounds before travelling?

      It depends on your current and future situation. There’s an advantage of having British Pounds on hand the moment you arrive in the UK. It is more convenient and you are more prepared. You won’t have to worry about fluctuating exchanging rates since you already have your money exchanged with the local currency.

      2. Is it better to put expenditures on my credit card or should I use cash?

      In terms of fees, using cash is more cost-effective. Using cash will also help you stay within your budget.

      Moreover, you may want to check our page regarding the different travel money options.

      Here’s a helpful page as well on how to avoid travel money fees and charges traveling overseas.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a nice day and may you have a safe and wonderful trip!

      Cheers,
      Joshua

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