The best British Pound to Canadian Dollar exchange rate of the year to date (past 365 days) was 1.786 achieved on 10-03-2020.
Today's exchange rate is at 1.7065, this is 4.45% off the best exchange rate of the past year-to-date.
The best British Pound to Canadian Dollar rate of the last month (last 30 Days to date) was at 1.7554, today's conversion is 2.78% off that rate.
Achieving the best possible Canadian dollar exchange rate requires getting two things right.
The first and hardest is timing markets correctly and at Pound Sterling Live we keep bring leading institutional research to try and forecast CAD direction.
The easy bit is finding the best currency provider by seeking out the tightest possible spreads.
Yet, this is the bit that so many people with currency transfer requirements overlook.
The wholesale market rate that financial websites quote are taken from the spot - or wholesale - market.
This gives an indicator of the rates large institutions are trading currency at on the various exchanges before they are sold on to their clients. The price that retail buyers get quoted varies significantly from the actual rate the market is quoting - FX delivery is done at discretion.
The above tool gives an example of how spreads are skewed by retail proviers using the latest live wholesale rates that are available on GBP/CAD:
What our tool does is arrive at the retail Canadian dollar exchange rates that are available to consumers.
You will see these rates are highly discretionary and the higher the spread charged, the less currency you get.
So the worst Canadian Dollar rates you see quoted are actually great for the provider as the difference ends up in their pockets.
By being tighter on the spreads offered RationalFX deliver you more currency and by doing so hope to attract custom away from the traditional players.
In addition, RationalFX are able to offer personally assigned dealers that are reactive to market moves.
An independent provider also allows you to set up hedging strategies to take advantage of beneficial rate movements.