The currency pair of pound sterling to the Canadian dollar is characterized by high volatility. Canada and the UK are very developed countries with close ties in the field of finance, business policy. These trade relations are characterized by high rates of trade and turnover.
Canada is the world's leading oil exporter. The dynamics of the value of the Canadian dollar is directly proportional to the fluctuations in the cost of oil, that is, the price of oil has a direct impact on the Canadian national currency rate: with the increase in oil prices, the Canadian dollar strengthens, and when it decreases, it weakens.
For 2015, the UK economy in terms of GDP in terms of PPP was tenth. The leading direction of the British economy is the service sector. The UK provides 10% of the world's export of services, including banking, brokerage, advisory and programming services. The second most important sector of the economy is industry: mining (2.2% of GDP) and manufacturing (14.7% of GDP). The main export of the country is engineering, transport, industrial goods and chemicals. Oil production since the 1970s brought a significant profit in trade and allowed to reduce the import of petroleum products.
Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
The GBP / CAD pair is built on the principle of direct quotation. The base currency is GBP, the British pound, and the quoted currency is CAD, the Canadian dollar. The growth of the currency pair means the strengthening of the British pound against the Canadian dollar, that is, to buy one GBP, more CAD is required. A decrease in the exchange rate indicates the strengthening of the Canadian dollar.
Canadian dollar - (currency sign - $ or C $, Bank code: CAD) - the monetary unit of Canada. It was introduced in 1858. The Central Bank of Canada has the right of issue and regulation. Refers to commodity types of currency, as it depends on the export of goods (oil, sulfur). Unofficial names: "Luni" and "small dollar".
British pound, pound sterling or pound - (currency symbol: £, Bank code: GBP) is a currency that acts as the national currency of the United Kingdom of Great Britain and Northern Ireland (Great Britain), including England, Scotland, Wales and Northern Ireland. Also the pound is a parallel currency of the crown lands of Guernsey, Jersey and the Isle of Man. The pound sterling is a legal tender for the British overseas territories: the Falkland Islands, Gibraltar, St. Helena, Ascension and Tristan da Cunha. The Bank of England has the right of money issue and regulation.
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