Monday, January 23, 2017 2:17 AM
Currencies rates online for British Pound (GBP) to Canadian Dollar (CAD).
Forex data is updating every 5 minutes.
In order to convert currencies, please go to Canadian Dollar (CAD) to British Pound (GBP).
The currency converter uses the latest Forex exchange rates.
The pound sterling (symbol: £; currency code: GBP) is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory and Tristan da Cunha. One (1) pound is equal to one hundred (100) pence.
The pound sterling is the third largest reserve currency in the world, behind the U.S. dollar and the euro, and one of the most commonly converted currencies. It is also the fourth most traded currency in the forex market, after the U.S. dollar, the euro and the Japanese yen. It is issued by the Bank of England.
The pound sterling is the oldest currency in the world that is still in use, with the pound being a unit of account in Anglo-Saxon England. The Bank of England was founded in 1694 and began to issue paper money in the same year.
The Canadian dollar (symbol: $; currency code: CAD) is the official currency of Canada. To distinguish between it and other dollar-denominated currencies, the Canadian dollar is sometimes abbreviated as C$. One (1) Canadian dollar is equal to one hundred (100) cents.
The Canadian dollar is widely referred to by Canadians as the “loonie”, a term which forex traders and analysts also employ. This is due to the image of a loon on the one-dollar coin. The Canadian dollar is the fifth largest reserve currency in the world, behind the U.S. dollar, the euro, the Japanese yen and the pound sterling, and the seventh most traded currency in the forex market.
The Canadian dollar was preceded by the Canadian pound, which was introduced in 1841. A widespread need to adopt a decimal monetary system based on the U.S. dollar due to the proximity of the two countries and the increasing trading activities between the two lasted for years, before the Canadian dollar was eventually introduced in 1858. The Canadian Parliament passed the Uniform Currency Act in April 1871 to replace the currencies of all provinces with a common Canadian dollar.