Canadian Dollar exchange rate high or low

Visit our live foreign exchange rates page to keep track of exchange rate throughout the day.

Best opportunities for Canadian Dollar buyers since 2007

With the sharp drop in oil prices at the beginning of this year and with the Bank of Canada cutting their interest rates twice since January, the Canadian Dollar has been one of the worst performing of the major currencies in 2015.

In fact, since the beginning of the year, the CAD has weakened against the Pound by more than 12%, offering up some of the best opportunities for buying Canadian Dollars since 2007.

CAD could strengthen on Friday this week

On Friday this week however, we could see some respite for anyone exchanging Canadian Dollars for Pounds, as inflation data for July is anticipated to highlight a slight improvement. This would signal that their most recent interest rate cut is starting to benefit the economy, which could in turn strengthen the CAD. With this in mind, anyone buying CAD should look to move early to avoid any potential losses on Friday.

If you would like to learn more about the factors affecting Canadian Dollar exchange rates, or need to transfer money to Canada, please contact me directly at rjh@currencies.co.uk or call me on +44(0) 1494 725353.

News

Read more articles
Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.