The British pound sterling is one of the most traded foreign currencies in the world, making the conversion of pounds to CAD a great deal. As the oldest currency that is still in use today, the GBP is a vital currency benchmark for several countries, including Canada.

Although it isn’t the most actively traded currency by volume, the GBP is among the most valued currencies in the world. If you need to convert your CAD to GBP, KnightsbridgeFX can help you with that. We offer competitive currency exchange rates in Canada.

CAD to GBP Exchange Rate: History

Conversion of Canadian dollars to pounds is one of the top currency exchanges in history. The exchange rate of the Canadian dollar against the sterling pound has been steady for the last ten days, with the exchange rate revolving around £0.58 for 1 CAD.

The highest CAD to GBP exchange rate was observed in May 2010 with 1 CAD equivalent to £0.6499. The lowest rate was recorded in May 2015, with 1 CAD equivalent to £0.5232. However, the exchange rates are subject to changes depending on the economic factors.

Canadian Dollar Exchange Rate: Key Drivers

Canada is an investment destination for many international companies. That gives a better chance for the Canadian dollar to increase in value. Here are some of the critical factors that contribute to the CAD exchange rate.

Economy Influence

Besides the prices of Canada’s top exports like oil, the economy of other countries, such as the United States, have a significant impact on the Canadian dollar exchange rate. When compared to the U.S, Canada’s economy is smaller. Therefore, any change in the United States’ monetary and fiscal policies must have an impact on the Canadian currency.

An increase in Canada’s interest rates will strengthen the Canadian dollar and result in an increased CAD to USD exchange rates. However, when the interest rates increase in the United States, the Canadian dollar would be weak and result in a lower CAD-USD exchange rate. The same applies to other countries’ currencies such as the GBP.

Commodity Prices

Any shift in Canada’s commodity prices can influence the Canadian dollar exchange rate positively or negatively. If the prices of Canada’s top exports increase, the CAD exchange rate will increase. In fact, many foreign investors will have an interest in trading on Canadian assets.

GBP Exchange Rate: What Moves It?

The British pound is one of the most traded currencies in the forex market. Here are some of the factors that can shift the GBP exchange rate.

Prices and Inflation

Inflation rates and prices of goods have a critical role in the GBP’s value and exchange rate. If the United Kingdom’s inflation rate is higher than other countries like Canada, the chances are high that the GBP would depreciate more than other currencies. When that happens, the Bank of England (BOE) may have to adjust the interest rates to avoid or control its adverse effects.

Monetary Policy

Based on the Bank of England’s report, the bank has the mandate to formulate and enact the country’s fiscal policies to encourage financial stability (confidence in the GBP and low inflation rates). If the inflation rate rises to a level that endangers the pound’s stability, the BOE will enforce the relevant monetary policies to control it. Such measures include adjusting interest rates.

Best CAD to British Pound Exchange Rate: How KnightsbridgeFX Does It?

Like any other currency exchange, KnightsbridgeFX offers the best CAD to British pound currency exchange services at better rates. Lots of things, including our sizeable transactional volume and no-hidden fees transactions, have contributed to our success.

Large Transactional Volume

KnightsbridgeFX undercuts any bank’s exchange rates to fulfill the financial needs of our clients. Due to our sizeable transactional volume, we have an established purchasing power, which enables us to buy the foreign currencies in bulk and pass them tour customers at affordable rates. KnightsbridgeFX also offers the free international transfer of vast amounts of money.

No Hidden Fees

Unlike most banks which have hidden costs in their currency exchange or money transfer services, KnightsbridgeFX includes all the transaction fees in the exchange rate for CAD to pound. You aren’t required to pay any fee that’s outside the agreed exchange rate.

Special Foreign Currency Exchange Pricing

KnightsbridgeFX works with a vast network of top Canadian banks. In partnership with such financial institutions, we can get special foreign currency exchange pricing for our clients. Our large transactional volume gives us a better chance to advocate for better pricing.

KnightsbridgeFX: One-Stop Solution for Your Currency Exchange Needs

Knightsbridge’s consistent bank beating rates and free international money transfers are suitable for Canadians who are planning to invest in the United Kingdom or travel to London.

We offer better and highly competitive CAD to British pound or British pound to CAD rates than any other financial institution you know in Canada. To convert Canadian dollars to pounds, use our currency converter to check the live rate for 1 CAD to GBP. The road to saving starts from here.