GBP/CAD: what to know
The GBP/CAD rate shows how much CAD you get for 1 GBP. Right now, 1 GBP buys 1.8686 CAD at the mid-market rate. In the other direction, 1 CAD is worth 0.5352 GBP.
In the short term GBP is driven mainly by Bank of England policy and the UK economy, while CAD responds to oil prices and the US economy.
The British Pound (GBP) is issued by Bank of England. The pound sterling has been in use for over 1,200 years. The Canadian Dollar (CAD) is issued by Bank of Canada. The C$1 coin is the “loonie” (after the loon bird) and the C$2 is the “toonie”.
Over the past 12 months the GBP/CAD rate has ranged between 1.8121 and 1.9031 — a change of +0.32% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.