Switch .com Best Exchange Rates .com Best Exchange Rates .com Best Exchange Rates

    CAD to GBP 2024 Forecasts

    Analysis of recent loonie→Sterling forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Canadian dollar to Pound Sterling performance and trends.


    Forecasts for CAD to GBP

    CADGBP chart
    14-DAY HIGH
    1-DAY +0.8%

    Recent forecasts from CIBC Capital Markets and Scotiabank indicate some headwinds for the Canadian Dollar (CAD) in the near term against the US Dollar, which could also have implications for the CAD to GBP exchange rate. CIBC Capital Markets expects the CAD to weaken, with their year-end forecast for the USD/CAD rate in 2024 being raised to 1.31, up from 1.28. They also highlight optimism for the CAD in 2025, suggesting the potential for a weaker USD across the board. Scotiabank analysts have noted that the CAD has fallen short of Q3 2023 expectations against the USD and appears undervalued based on fundamental economic indicators. A possible increase in interest rates by the Bank of Canada, which the market may not have fully accounted for, could lead to a strengthening of the CAD nearer to the 1.30 mark by the late 2023. The Canadian economy shows signs of resilience, as indicated by robust employment figures, which may support economic activity; however, weaker labor markets toward the end of the year could signal further rate cuts and a potential weakening of the CAD.

    On the other side of the pair, currency strategists from various institutions including Wells Fargo and TD Securities are sensing a tilt toward bearishness for the British Pound (GBP), with forecasts of a drop to 1.20 or below against the USD by early 2024. UK consumer confidence has waned, often a precursor to economic downturn, further justifying this cautious stance on the GBP. Given that GBP/USD is known for high volatility and is sensitive to economic data, political events, and changes in central bank policies, these factors could contribute to rapid exchange rate fluctuations. Furthermore, If the Bank of England ends policy tightening sooner than the market expects, Sterling could lose further ground.

    Current market data shows the CAD to GBP exchange rate at 0.5852, which is marginally below its three-month average of 0.5925, and it has been relatively stable, trading within a 5.3% range. In the context of Canada as a significant oil exporter, the CAD could be influenced by oil price movements. Brent Crude OIL/USD prices have been 5.3% below the three-month average and exhibited considerable volatility, which is notable given the correlation between the CAD and oil prices. FX analysts will be closely watching these commodities and geopolitical developments, as they serve as potential indicators for future movements of the CAD, indirectly impacting the CAD to GBP exchange rate.

    @bestfxrates : 📉 Amid forecasts of a weaker CAD due to potential headwinds & raised USD/CAD year-end targets by CIBC to 1.31, coupled with a bearish outlook for GBP, the CADGBP trades at 0.5852, under 3-mo avg. Oil volatility & BoC/BoE moves could sway this pair. Market eyes on key indicators. #ForexUpdate #CADGBP

    Multi-Vendor Quote

    We can help you get an even better deal when sending a Large International Money Transfer.

    Click below for the Request Quotes form and enter your transfer details (BER account required).

    Request Quotes

    Save time and money - fewer websites to visit and you get a much better exchange rate & service.


    CAD to GBP Market Data

    Canadian dollar (CAD) to Pound Sterling (GBP) market data - latest interbank mid-rate, trend, chart & historic rates.

    1 CAD =
    0.5835We compare provider deals to this wholesale mid-market rate. Read more
    CAD to GBP at 0.5827 is 1.7% below its 3-month average of 0.5925, having traded in a quite stable 5.3% range from 0.5795 to 0.6105
    Sell CAD   →   Buy GBP
    My Rates

    Manage My Rates   

      1 GBP = 1.7138 CAD
    14-DAY HIGH
    1-DAY +0.8%

    Compare & Save - Canadian dollar to Pound Sterling

    Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Canadian dollar (CAD) to Pound Sterling (GBP) rates from different sources before making a conversion.

    Use our CAD to GBP calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on loonie to Sterling currency rates and the possible savings of using various providers.

    16 Nov 2023
    0.3% 2 Week
    01 Sep 2023
    0.2% 3 Month
    30 Nov 2022
    5.4% 1 Year
    01 Dec 2018
    1% 5 Year
    02 Dec 2013
    1.6% 10 Year
    05 Dec 2003
    31.6% 20 Year
    CAD/GBP historic rates & change to 30-Nov-2023

    Will the Canadian dollar rise against the Pound Sterling?

    It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

    To help with this you can add CAD/GBP to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

    Track Rate

    Manage My Rates   


    Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP DOWN HIGH LOW alerts over a range of periods over the recent 90 days.

    Read our Currency guide to the United Kingdom - a practical currency and money guide to travel, living and doing business in the United Kingdom with the Pound Sterling.


    Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more