Convert CAD to GBP at Best Exchange Rates
There are three simple steps you need to take in order to get a good CAD-GBP exchange rate:
- Know the latest CAD to GBP market mid-rate shown above - this is your starting point!
- Compare your Bank's exchange rates to several licensed FX providers, remember to compare both the exchange rate margins as well as the various types of fees. We make that easy to do with our calculators for Foreign Transfers and Travel Money transactions.
- Review up-to-date Currency News and Forecasts for both the Canadian dollar and British pound sterling currencies, if available.
1. Market CAD/GBP mid-rate
Right now the CAD/GBP market rate is and represents how many British pound sterling you can get for one Canadian dollar.
Calculate equivalent currency amounts with this CAD to GBP currency converter then select the transaction type to compare the best exchange rates available.
Currency Converter CAD to GBP
Canadian dollar to British pound sterling (CAD-GBP) - 10 Year History
|20 Jun 2018||0.5694||Latest|
|13 Jun 2018||0.5759||1 Week||-1.13%|
|21 May 2018||0.5827||1 Month||-2.28%|
|22 Dec 2017||0.5881||6 Months||-3.18%|
|20 Jun 2017||0.5966||1 Year||-4.56%|
|20 Jun 2016||0.5313||2 Years||+7.17%|
|21 Jun 2013||0.6220||5 Years||-8.46%|
|22 Jun 2008||0.4978||10 Years||+14.38%|
The CAD/GBP mid-rate is the rate you will see Quoted on Google or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between the last rate at which the CAD / GBP was traded (bought or sold) in the international markets.
The closer your final exchange rate is to the market / midrate the better deal you are getting.
2. Transaction Costs - Margins and Fees for CAD/GBP Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
CAD to GBP Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from CAD to GBP.
Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote
Compare Foreign Transfers
Sending CAD 10,000 to GBP
Rate timestamp : Thu Jun 21 2018 05:06:24 GMT+0000 (UTC)
Travel Money CAD to GBP - Costs Compared
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Travel Money Exchange Rates Compared
Buying GBP Cash with CAD 1,000
Rate timestamp : 5:09 Local
Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
Our real-time comparison calculators make shopping around easy and help you calculate how much you can save.
Why can't I just get the same CAD/GBP market rate I see on Google or in the Media?
When you look up the current Canadian dollar to British pound sterling exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great CAD to GBP mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use our CAD to GBP currency converter to calculate equivalent amounts in each currency using the latest mid-market exchange rates. Then choose your transaction type for specific Canadian dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for Canadian dollar and British pound sterling
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the CAD vs GBP, you should pay attention to both Canadian dollar and British pound sterling news and forecasts.
Canadian dollar (CAD) - Market news and forecasts
The Canadian dollar was the worst performing G10 currency in the first quarter of 2018 but in the first two months of the second quarter, it bettered all but the US dollar.
In April and May, against USD, CAD weakened marginally to $0.77 from $0.776; but CAD gained handsomely against the euro (and several other currencies), climbing to €0.662 from €0.629 (it had been only €0.619 in mid-March).
In March, TD Securities described CAD as “really expensive…from a global macro level and also from the local level of trade risk.” With the currency’s broad appreciation in the second quarter, presumably, as of writing, it is even more overvalued.
Being a growth-sensitive currency, CAD’s outlook is closely tied to that of global growth, and this is being threatened in 2018 by the trade policies of the US. The powers that be in the world’s largest economy have so far threatened China with massive tariffs and have imposed tariffs on steel and aluminium products sourced globally (Canada may or may not be excluded from this policy, depending on how much ground it gives during NAFTA negotiations – see below). Then, after a month or so of calm, trade tensions resurfaced in May after Washington announced it would be scrutinizing automobile imports.
Vital to CAD’s outlook is NAFTA. The market consensus remains for an 8-10% drop in CAD's value should NAFTA negotiations with the US and Mexico fail.
Supporting CAD in 2018 has been oil, which has climbed to long-term highs.
British pound sterling (GBP) - Market news and forecasts
The pound will buy 1.41 dollars in the second half of 2019, according to the median estimate of 50 FX analysts polled by Reuters in June – a rate 5 percent higher than those at the time of writing (June 8th) near 1.34 dollars.
If the forecast proves accurate, this would mean that by the time Britain leaves the European Union next March, it will have recouped most of its post-Brexit losses. Britain’s currency averaged 1.45 dollars in the six-months leading up to the EU referendum in June 2016.
Results from the Reuters poll suggest that most analysts expect Britain to achieve a good divorce deal with the EU.
However, expectations are lower than they once were. In April, when a rate hike by the Bank of England seemed imminent, the twelve-month median forecast of analysts stood at 1.44. Expectations for a rate hike were shattered (now expected in August) after BoE Governor Mark Carney gave dovish remarks to the BBC and after a string of disappointing economic data, including quarterly UK economic growth at just 0.1 percent – a five-year low.
Against the euro, sterling was little changed between September ‘17 and June ’18 (it was marginally higher), at levels close to 1.14 euros.