What's in this GBP to CAD exchange rate review?
To calculate other GBP/CAD amounts try our home-page Convert GBP to CAD quick converter.
Comparing Retail Exchange Rates
The total cost for 'Retail' exchange rates you receive from your bank or foreign exchange provider consists of the margin from the 'Wholesale' rate (interbank mid-rate) plus any fixed or percentage fees.
These margins and fees can vary significantly for International Money Transfers, Travel Money and prepaid multi-currency Travel Card transactions. Also the exchange rate margin will also vary depending on the currency pair and total amount.
Country Guides - Canadian Dollar
 Canada (CAD) |
Pound Sterling - Canadian Dollar Forecasting
When determining the best time to make a foreign exchange transaction, in this case the GBP vs CAD, you should pay attention to the recent market trends for both currencies.
Pound Sterling (GBP)
US dollar weakness has helped the embattled pound continue its recovery off June and early July lows. Despite this brief upturn, the outlook remains pessimistic as Brexit uncertainty and questions over the economy’s ability to rebound after the pandemic weigh on the currency.
In late July pound sterling is heading back towards US1.30 due to US dollar weakness. This is a remarkable change of fortunes for GBP which was sold-off after the Brexit vote and again after the virus forced a lockdown in London, the world’s largest foreign-exchange centre. Against the dollar, sterling touched the lowest level in 35 years (below US1.16) in March as traders sought the safety of the USD.
The coronavirus pandemic has replaced Brexit in the headlines and means that the deadline for a trade deal with the Eurozone this year could either be pushed back, delaying a risk for the currency, or see more favorable terms given to the U.K.
Read more in the article GBP Forecasts.
Canadian Dollar (CAD)
The combination of an eroded US interest yield advantage, a broadly positive riskon mood and renewed euro demand, could be a catalyst to push the Canadian dollar along. The combination of an eroded US interest yield advantage, a broadly positive riskon mood and renewed euro demand, could be a catalyst to push the Canadian dollar along.
The Canadian dollar was range bound during the second half of 2019 oscillating between US75c and US76.5c. Mid-year the loonie stormed ahead in June and July, rising to what turned out to be the 2019 high against the US dollar of US76.7cents and to 8-month highs against the euro, pound, Australian and New Zealand dollars. Against the Aussie, a minimal additional increase would take CAD to a 9-year high.
Supporting the loonie was a 10 percent rise in the oil price (oil is among Canada’s most exported products but is volatile and can’t be relied upon), a large and welcome jump in inflation, and dovishness at major central banks of the world, including the Federal Reserve, ECB and RBA.
Read more in the article CAD Forecasts.
How to get Best GBP to CAD Exchange Rates
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate).
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 foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
What is a good GBP to CAD exchange rate?
This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the Pound Sterling vs Canadian Dollar current value is to look the GBP/CAD historic rate and change over a range of periods.
The following table looks at the change in the GBP to CAD exchange rate over periods from the previous week back to the last 10 years.
| GBP/CAD rate | Change | Period |
|---|---|---|
| 07 Aug 2020 : 1.7468 | 0.6% ▼ | 1 Week |
| 15 Jul 2020 : 1.7009 | 2.1% ▲ | 30 Days |
| 16 May 2020 : 1.7076 | 1.7% ▲ | 90 Days |
| 15 Aug 2019 : 1.6102 | 7.8% ▲ | 1 Year |
| 16 Aug 2015 : 2.0491 | 15.3% ▼ | 5 Years |
| 17 Aug 2010 : 1.6129 | 7.6% ▲ | 10 Years |
GBP/CAD 10 year historic rates & change to 14-Aug-2020 : 1.7360
When is the best time to exchange GBP to CAD?
Getting a good market rate is all about timing to help with this you can use BER Smart Alerts to make the most of currency movements.
Rather than requiring you to set a target rate, our rate alerts work differently. We check for daily high/lows and changes (up/down) over a range of periods up to 90 days rather than requiring you to set target rates.