Live rate: 1 CAD = 2548.9347 UGX (-0.3071%)

Inverted: 1 UGX = 0.0004 CAD

Click here for our full travel and holiday rates comparison tool.

Comparison Results:

ProviderExchange RateFeeYou GetServiceNotesAction

Live Market Rate

2548.934702,523.4454
wise 2,548.93471.06%2,521.9160 Best Multi-Currency Card The UK's leading payment provider

Best Bank Rate

Banks
2,477.5645

(upper range)

Variable2,477.5645 Payments, transfers, holiday money Determined using data on spread charges supplied by IMTI

Worst Bank Rate

Banks
2,459.7220

(lower range)

Variable2,459.7220Payments, transfers, holiday money Determined using data on spread charges supplied by Money Mover and Accourt

Paypal

Paypal
2,434.232602,434.2326 International Payments and Transfers

CAD/UGX Live Chart and Data

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For full historical data please visit: CAD/UGX exchange rate history pages for the year 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012

January - 2024

SunMonTueWedThuFriSat
1
2

Open: 2,856.6300

Close: 2,866.0200

Mid: 2,860.4700

3

Open: 2,852.3000

Close: 2,846.2300

Mid: 2,848.0850

4

Open: 2,852.3000

Close: 2,846.2300

Mid: 2,848.0850

5

Open: 2,857.5800

Close: 2,825.1300

Mid: 2,843.2950

6
7
8

Open: 2,829.0700

Close: 2,825.7800

Mid: 2,825.7000

9

Open: 2,839.9800

Close: 2,839.8200

Mid: 2,839.0350

10

Open: 2,839.0600

Close: 2,836.2300

Mid: 2,839.5600

11

Open: 2,836.3600

Close: 2,836.6100

Mid: 2,837.3150

12

Open: 2,831.2600

Close: 2,829.2900

Mid: 2,835.7900

13
14
15

Open: 2,831.4300

Close: 2,838.6400

Mid: 2,834.4650

16

Open: 2,837.7700

Close: 2,829.4600

Mid: 2,835.7950

17

Open: 2,828.8300

Close: 2,827.3000

Mid: 2,826.9800

18

Open: 2,828.8300

Close: 2,827.3000

Mid: 2,826.9800

19

Open: 2,817.3600

Close: 2,830.0300

Mid: 2,822.9200

20
21
22

Open: 2,828.9200

Close: 2,831.3400

Mid: 2,831.6400

23

Open: 2,831.3200

Close: 2,840.1100

Mid: 2,834.3150

24

Open: 2,839.9900

Close: 2,822.9600

Mid: 2,832.4100

25

Open: 2,823.3000

Close: 2,835.7200

Mid: 2,828.8400

26

Open: 2,823.3000

Close: 2,835.7200

Mid: 2,828.8400

27
28
29

Open: 2,840.3000

Close: 2,840.4500

Mid: 2,841.2450

30

Open: 2,840.4900

Close: 2,842.3300

Mid: 2,843.5750

31

Open: 2,843.3200

Close: 2,839.6800

Mid: 2,842.0600

February - 2024

SunMonTueWedThuFriSat
1

Open: 2,837.0700

Close: 2,835.2800

Mid: 2,839.9750

2

Open: 2,835.3200

Close: 2,863.7800

Mid: 2,849.7300

3
4
5

Open: 2,862.2300

Close: 2,830.8200

Mid: 2,848.5950

6

Open: 2,831.0000

Close: 2,823.2600

Mid: 2,827.0150

7

Open: 2,840.9700

Close: 2,840.7400

Mid: 2,838.6950

8

Open: 2,840.7600

Close: 2,848.6300

Mid: 2,846.1700

9

Open: 2,848.3800

Close: 2,862.4400

Mid: 2,857.3250

10
11
12

Open: 2,860.5500

Close: 2,867.0700

Mid: 2,864.3000

13

Open: 2,867.5700

Close: 2,866.4900

Mid: 2,865.6200

14

Open: 2,866.9300

Close: 2,855.0100

Mid: 2,863.8000

15

Open: 2,866.9300

Close: 2,855.0100

Mid: 2,863.8000

16

Open: 2,861.6700

Close: 2,871.1300

Mid: 2,866.8250

17
18
19

Open: 2,861.6700

Close: 2,871.1300

Mid: 2,866.8250

20

Open: 2,878.1200

Close: 2,865.8600

Mid: 2,867.8200

21

Open: 2,867.0000

Close: 2,878.2900

Mid: 2,873.9150

22

Open: 2,877.2500

Close: 2,892.0600

Mid: 2,887.0500

23

Open: 2,877.2500

Close: 2,892.0600

Mid: 2,887.0500

24
25
26

Open: 2,877.2500

Close: 2,892.0600

Mid: 2,887.0500

27

Open: 2,877.2500

Close: 2,892.0600

Mid: 2,887.0500

28

Open: 2,907.7100

Close: 2,898.6600

Mid: 2,904.1250

29

Open: 2,898.4900

Close: 2,898.4600

Mid: 2,897.8250

March - 2024

SunMonTueWedThuFriSat
1

Open: 2,899.5200

Close: 2,882.3600

Mid: 2,890.6600

2
3
4

Open: 2,882.7900

Close: 2,886.0800

Mid: 2,884.3200

5

Open: 2,886.7000

Close: 2,875.6400

Mid: 2,881.0000

6

Open: 2,876.1500

Close: 2,895.8000

Mid: 2,884.4800

7

Open: 2,894.2700

Close: 2,887.1300

Mid: 2,891.0100

8

Open: 2,887.1300

Close: 2,891.9800

Mid: 2,891.0050

9
10
11

Open: 2,887.1300

Close: 2,891.9800

Mid: 2,891.0050

12

Open: 2,903.5500

Close: 2,883.3300

Mid: 2,896.1900

13

Open: 2,884.4800

Close: 2,892.3300

Mid: 2,887.8200

14

Open: 2,885.9500

Close: 2,882.6700

Mid: 2,885.6700

15

Open: 2,883.2300

Close: 2,870.6400

Mid: 2,879.3550

16
17
18

Open: 2,867.4900

Close: 2,872.1500

Mid: 2,869.9450

19

Open: 2,873.9100

Close: 2,854.2100

Mid: 2,863.5550

20

Open: 2,849.5900

Close: 2,851.0000

Mid: 2,850.3600

21

Open: 2,850.4300

Close: 2,889.3000

Mid: 2,870.6250

22

Open: 2,850.4300

Close: 2,889.3000

Mid: 2,870.6250

23
24
25

Open: 2,870.8600

Close: 2,867.4800

Mid: 2,867.5900

26

Open: 2,859.3400

Close: 2,861.1700

Mid: 2,860.5700

27

Open: 2,861.7600

Close: 2,858.5800

Mid: 2,859.5000

28

Open: 2,859.1600

Close: 2,863.8000

Mid: 2,861.2300

29

Open: 2,864.9700

Close: 2,873.3700

Mid: 2,866.3100

30
31

April - 2024

SunMonTueWedThuFriSat
1

Open: 2,867.7600

Close: 2,880.9500

Mid: 2,873.8800

2

Open: 2,862.1400

Close: 2,856.9100

Mid: 2,859.1750

3

Open: 2,851.6200

Close: 2,843.1500

Mid: 2,848.9900

4

Open: 2,843.1700

Close: 2,846.8300

Mid: 2,846.9750

5

Open: 2,847.4300

Close: 2,817.8900

Mid: 2,832.5600

6
7
8

Open: 2,817.0500

Close: 2,813.9400

Mid: 2,816.1900

9

Open: 2,811.6100

Close: 2,796.7600

Mid: 2,801.4600

10

Open: 2,796.7000

Close: 2,804.9200

Mid: 2,799.8600

11

Open: 2,784.6900

Close: 2,780.0200

Mid: 2,782.1200

12

Open: 2,784.6900

Close: 2,780.0200

Mid: 2,782.1200

13
14
15

Open: 2,763.4200

Close: 2,768.0700

Mid: 2,765.8000

16

Open: 2,768.1300

Close: 2,777.8900

Mid: 2,769.8750

17

Open: 2,776.7400

Close: 2,769.8700

Mid: 2,769.8800

18

Open: 2,776.7400

Close: 2,769.8700

Mid: 2,769.8800

19

Open: 2,776.0600

Close: 2,785.1900

Mid: 2,779.6800

20
21
22

Open: 2,776.0600

Close: 2,785.1900

Mid: 2,779.6800

23

Open: 2,780.3900

Close: 2,773.0400

Mid: 2,776.8350

24

Open: 2,780.3900

Close: 2,773.0400

Mid: 2,776.8350

25

Open: 2,777.0500

Close: 2,788.1300

Mid: 2,780.3700

26

Open: 2,788.1600

Close: 2,794.2400

Mid: 2,792.6600

27
28
29

Open: 2,796.3900

Close: 2,786.1500

Mid: 2,791.9100

30

Open: 2,796.3900

Close: 2,786.1500

Mid: 2,791.9100

May - 2024

SunMonTueWedThuFriSat
1

Open: 2,780.7800

Close: 2,762.0400

Mid: 2,773.9150

2

Open: 2,761.5400

Close: 2,774.5400

Mid: 2,769.7500

3

Open: 2,774.6500

Close: 2,765.5600

Mid: 2,768.4550

4
5
6

Open: 2,764.8800

Close: 2,761.6000

Mid: 2,760.0600

7

Open: 2,761.0300

Close: 2,750.4500

Mid: 2,755.0900

8

Open: 2,761.0300

Close: 2,750.4500

Mid: 2,755.0900

9

Open: 2,754.0500

Close: 2,749.7700

Mid: 2,754.6800

10

Open: 2,750.3700

Close: 2,766.1000

Mid: 2,759.2850

11
12
13

Open: 2,768.1800

Close: 2,753.0000

Mid: 2,759.9350

14

Open: 2,753.5700

Close: 2,741.8400

Mid: 2,751.3350

15

Open: 2,741.8500

Close: 2,751.6300

Mid: 2,747.9950

16

Open: 2,752.2900

Close: 2,761.9500

Mid: 2,756.4100

17

Open: 2,762.5600

Close: 2,757.2000

Mid: 2,759.5650

18
19
20

Open: 2,789.8300

Close: 2,785.5900

Mid: 2,787.1350

21

Open: 2,786.8100

Close: 2,787.9100

Mid: 2,786.0550

22

Open: 2,788.4900

Close: 2,784.9100

Mid: 2,788.6350

23

Open: 2,785.5000

Close: 2,792.2000

Mid: 2,791.2650

24

Open: 2,792.1500

Close: 2,781.1100

Mid: 2,786.4000

25
26
27

Open: 2,782.2900

Close: 2,780.8900

Mid: 2,781.2450

28

Open: 2,781.4800

Close: 2,795.5200

Mid: 2,787.5100

29

Open: 2,796.1400

Close: 2,789.5100

Mid: 2,791.8150

30

Open: 2,789.4000

Close: 2,788.7700

Mid: 2,788.1950

31

Open: 2,788.9100

Close: 2,789.5800

Mid: 2,791.2600

June - 2024

SunMonTueWedThuFriSat
1
2
3

Open: 2,791.6700

Close: 2,781.7600

Mid: 2,787.4600

4

Open: 2,781.6900

Close: 2,781.1200

Mid: 2,779.4650

5

Open: 2,781.1200

Close: 2,780.5900

Mid: 2,779.4450

6

Open: 2,781.1700

Close: 2,773.5200

Mid: 2,777.0150

7

Open: 2,772.9800

Close: 2,769.2300

Mid: 2,772.6250

8
9
10

Open: 2,775.6500

Close: 2,735.9600

Mid: 2,757.6150

11

Open: 2,735.9400

Close: 2,738.1600

Mid: 2,736.4150

12

Open: 2,737.5800

Close: 2,727.9400

Mid: 2,730.8900

13

Open: 2,713.7700

Close: 2,718.0400

Mid: 2,715.4100

14

Open: 2,720.3500

Close: 2,708.4700

Mid: 2,714.5300

15
16
17

Open: 2,706.1000

Close: 2,692.3600

Mid: 2,699.7500

18

Open: 2,692.9200

Close: 2,707.1500

Mid: 2,700.7600

19

Open: 2,707.2900

Close: 2,727.2700

Mid: 2,715.1100

20

Open: 2,726.7100

Close: 2,743.2800

Mid: 2,734.6700

21

Open: 2,742.7100

Close: 2,735.4900

Mid: 2,740.0050

22
23
24

Open: 2,737.2600

Close: 2,733.0400

Mid: 2,733.5750

25

Open: 2,737.2600

Close: 2,733.0400

Mid: 2,733.5750

26

Open: 2,715.1200

Close: 2,717.7400

Mid: 2,716.7850

27

Open: 2,715.1200

Close: 2,717.7400

Mid: 2,716.7850

28

Open: 2,710.1300

Close: 2,713.7200

Mid: 2,710.9800

29
30

July - 2024

SunMonTueWedThuFriSat
1

Open: 2,726.8300

Close: 2,709.4500

Mid: 2,716.6700

2

Open: 2,726.8300

Close: 2,709.4500

Mid: 2,716.6700

3

Open: 2,696.6600

Close: 2,697.9300

Mid: 2,696.3300

4

Open: 2,696.6600

Close: 2,697.9300

Mid: 2,696.3300

5

Open: 2,716.8900

Close: 2,707.0200

Mid: 2,712.1150

6
7
8

Open: 2,711.6200

Close: 2,725.4400

Mid: 2,714.1050

9

Open: 2,721.0800

Close: 2,722.8200

Mid: 2,721.0550

10

Open: 2,722.2500

Close: 2,711.6900

Mid: 2,717.0500

11

Open: 2,713.4200

Close: 2,704.3900

Mid: 2,708.4300

12

Open: 2,724.3200

Close: 2,700.6200

Mid: 2,714.3600

13
14
15

Open: 2,711.8100

Close: 2,706.2500

Mid: 2,708.8150

16

Open: 2,706.8000

Close: 2,701.0900

Mid: 2,704.1700

17

Open: 2,701.7000

Close: 2,708.3400

Mid: 2,703.6200

18

Open: 2,706.6400

Close: 2,701.5400

Mid: 2,704.0200

19

Open: 2,701.4800

Close: 2,692.7800

Mid: 2,697.4050

20
21
22

Open: 2,692.9900

Close: 2,687.8900

Mid: 2,690.5400

23

Open: 2,687.3100

Close: 2,680.3300

Mid: 2,687.2400

24

Open: 2,680.8700

Close: 2,694.5300

Mid: 2,687.7250

25

Open: 2,693.5600

Close: 2,707.4800

Mid: 2,699.4900

26

Open: 2,706.8900

Close: 2,695.2500

Mid: 2,700.6150

27
28
29

Open: 2,696.3600

Close: 2,685.7100

Mid: 2,696.2100

30

Open: 2,686.8100

Close: 2,691.1500

Mid: 2,690.4100

31

Open: 2,691.2100

Close: 2,692.3500

Mid: 2,694.0650

August - 2024

SunMonTueWedThuFriSat
1

Open: 2,692.9700

Close: 2,695.9300

Mid: 2,697.3300

2

Open: 2,692.9700

Close: 2,695.9300

Mid: 2,697.3300

3
4
5

Open: 2,665.0800

Close: 2,693.5200

Mid: 2,681.6800

6

Open: 2,665.0800

Close: 2,693.5200

Mid: 2,681.6800

7

Open: 2,665.0800

Close: 2,693.5200

Mid: 2,681.6800

8

Open: 2,711.4300

Close: 2,704.1900

Mid: 2,711.1300

9

Open: 2,713.2800

Close: 2,710.3800

Mid: 2,711.4450

10
11
12

Open: 2,708.3100

Close: 2,712.7400

Mid: 2,711.8100

13

Open: 2,712.6400

Close: 2,705.0000

Mid: 2,708.0850

14

Open: 2,704.4700

Close: 2,723.9300

Mid: 2,713.2050

15

Open: 2,723.8000

Close: 2,711.9400

Mid: 2,718.1750

16

Open: 2,714.7400

Close: 2,714.1800

Mid: 2,712.8300

17
18
19

Open: 2,715.2900

Close: 2,721.6300

Mid: 2,718.1900

20

Open: 2,734.1100

Close: 2,727.4600

Mid: 2,729.6900

21

Open: 2,732.5400

Close: 2,730.3700

Mid: 2,730.8050

22

Open: 2,745.3300

Close: 2,736.4100

Mid: 2,740.1200

23

Open: 2,736.4400

Close: 2,731.8400

Mid: 2,734.8550

24
25
26

Open: 2,733.5800

Close: 2,753.4000

Mid: 2,743.2200

27

Open: 2,753.4600

Close: 2,752.3200

Mid: 2,752.8450

28

Open: 2,753.4600

Close: 2,752.3200

Mid: 2,752.8450

29

Open: 2,764.4800

Close: 2,760.6200

Mid: 2,764.7300

30

Open: 2,760.5900

Close: 2,764.1000

Mid: 2,762.6550

31

September - 2024

SunMonTueWedThuFriSat
1
2

Open: 2,760.5900

Close: 2,764.1000

Mid: 2,762.6550

3

Open: 2,756.3600

Close: 2,752.8800

Mid: 2,753.5950

4

Open: 2,749.4200

Close: 2,752.6000

Mid: 2,749.7150

5

Open: 2,757.0000

Close: 2,750.3200

Mid: 2,757.4300

6

Open: 2,750.3300

Close: 2,747.1100

Mid: 2,750.0350

7
8
9

Open: 2,748.1400

Close: 2,742.0800

Mid: 2,744.2400

10

Open: 2,741.5700

Close: 2,733.9500

Mid: 2,737.6350

11

Open: 2,734.0200

Close: 2,749.3700

Mid: 2,740.6000

12

Open: 2,749.4000

Close: 2,723.9500

Mid: 2,737.3300

13

Open: 2,735.7300

Close: 2,729.3600

Mid: 2,732.5850

14
15
16

Open: 2,734.8100

Close: 2,718.8300

Mid: 2,727.1400

17

Open: 2,722.4100

Close: 2,742.6500

Mid: 2,730.8900

18

Open: 2,740.4000

Close: 2,734.7700

Mid: 2,735.1050

19

Open: 2,735.5300

Close: 2,742.1100

Mid: 2,739.2750

20

Open: 2,741.8800

Close: 2,722.4200

Mid: 2,732.1000

21
22
23

Open: 2,726.0400

Close: 2,723.9900

Mid: 2,729.8300

24

Open: 2,726.0400

Close: 2,723.9900

Mid: 2,729.8300

25

Open: 2,744.3600

Close: 2,748.4600

Mid: 2,746.8550

26

Open: 2,749.1400

Close: 2,735.6200

Mid: 2,741.5350

27

Open: 2,735.6200

Close: 2,736.1600

Mid: 2,736.7800

28
29
30

Open: 2,735.0500

Close: 2,734.6900

Mid: 2,732.2250

October - 2024

SunMonTueWedThuFriSat
1

Open: 2,736.3600

Close: 2,725.5900

Mid: 2,733.0400

2

Open: 2,736.3600

Close: 2,725.5900

Mid: 2,733.0400

3

Open: 2,724.3200

Close: 2,698.7100

Mid: 2,715.6400

4

Open: 2,700.7300

Close: 2,710.5900

Mid: 2,703.7850

5
6
7

Open: 2,700.7300

Close: 2,710.5900

Mid: 2,703.7850

8

Open: 2,700.7300

Close: 2,710.5900

Mid: 2,703.7850

9

Open: 2,692.2300

Close: 2,684.9700

Mid: 2,690.7950

10

Open: 2,684.9400

Close: 2,679.3000

Mid: 2,680.5150

11

Open: 2,684.9400

Close: 2,679.3000

Mid: 2,680.5150

12
13
14

Open: 2,670.1400

Close: 2,654.2000

Mid: 2,662.5500

15

Open: 2,670.1400

Close: 2,654.2000

Mid: 2,662.5500

16

Open: 2,652.5200

Close: 2,673.8200

Mid: 2,663.9300

17

Open: 2,673.7000

Close: 2,662.3200

Mid: 2,668.1800

18

Open: 2,673.7000

Close: 2,662.3200

Mid: 2,668.1800

19
20
21

Open: 2,655.7000

Close: 2,657.5400

Mid: 2,656.2500

22

Open: 2,649.1200

Close: 2,651.9700

Mid: 2,651.3500

23

Open: 2,653.7700

Close: 2,658.8200

Mid: 2,656.4450

24

Open: 2,661.6000

Close: 2,647.1800

Mid: 2,655.4100

25

Open: 2,649.1300

Close: 2,645.0400

Mid: 2,648.2800

26
27
28

Open: 2,642.1500

Close: 2,641.5500

Mid: 2,640.5050

29

Open: 2,640.7900

Close: 2,628.3200

Mid: 2,635.4000

30

Open: 2,628.3800

Close: 2,637.2200

Mid: 2,630.6150

31

Open: 2,635.5700

Close: 2,642.8400

Mid: 2,640.9150

November - 2024

SunMonTueWedThuFriSat
1

Open: 2,632.8400

Close: 2,612.5900

Mid: 2,624.1500

2
3
4

Open: 2,622.6300

Close: 2,635.4500

Mid: 2,630.4100

5

Open: 2,647.6800

Close: 2,645.1200

Mid: 2,645.7150

6

Open: 2,625.6800

Close: 2,636.8400

Mid: 2,636.1700

7

Open: 2,643.5700

Close: 2,636.6100

Mid: 2,641.0250

8

Open: 2,637.1800

Close: 2,641.7600

Mid: 2,640.1800

9
10
11

Open: 2,632.1700

Close: 2,634.6000

Mid: 2,630.8950

12

Open: 2,634.0000

Close: 2,651.9300

Mid: 2,643.4050

13

Open: 2,634.0100

Close: 2,631.8900

Mid: 2,633.1450

14

Open: 2,634.1700

Close: 2,607.7400

Mid: 2,625.9450

15

Open: 2,615.1600

Close: 2,618.6000

Mid: 2,616.6350

16
17
18

Open: 2,616.9100

Close: 2,609.7600

Mid: 2,613.7200

19

Open: 2,609.2400

Close: 2,628.3500

Mid: 2,619.2400

20

Open: 2,628.9200

Close: 2,643.9300

Mid: 2,633.4000

21

Open: 2,643.9200

Close: 2,653.8000

Mid: 2,649.9650

22

Open: 2,654.4200

Close: 2,646.0700

Mid: 2,649.5450

23
24
25

Open: 2,650.0400

Close: 2,647.6100

Mid: 2,649.0550

26

Open: 2,647.5500

Close: 2,636.2400

Mid: 2,634.0000

27

Open: 2,635.1200

Close: 2,616.6500

Mid: 2,624.7950

28

Open: 2,626.2200

Close: 2,627.5500

Mid: 2,631.5550

29

Open: 2,636.0200

Close: 2,622.2200

Mid: 2,629.3700

30

December - 2024

SunMonTueWedThuFriSat
1
2

Open: 2,631.2200

Close: 2,636.1500

Mid: 2,632.3550

3

Open: 2,635.5900

Close: 2,613.0900

Mid: 2,625.2200

4

Open: 2,618.7100

Close: 2,612.1900

Mid: 2,616.9450

5

Open: 2,612.1500

Close: 2,609.4300

Mid: 2,609.7950

6

Open: 2,616.6200

Close: 2,596.3200

Mid: 2,607.0850

7
8
9

Open: 2,598.5800

Close: 2,588.8600

Mid: 2,594.8600

10

Open: 2,588.4100

Close: 2,578.4200

Mid: 2,585.2000

11

Open: 2,579.5600

Close: 2,580.0700

Mid: 2,582.9150

12

Open: 2,581.7300

Close: 2,584.7600

Mid: 2,583.9350

13

Open: 2,583.6200

Close: 2,566.6700

Mid: 2,574.8900

14
15
16

Open: 2,569.6300

Close: 2,554.8100

Mid: 2,561.9450

17

Open: 2,555.3700

Close: 2,540.6000

Mid: 2,546.8250

18

Open: 2,540.9800

Close: 2,547.6400

Mid: 2,544.2850

19

Open: 2,530.6100

Close: 2,553.8300

Mid: 2,539.0350

20

Open: 2,548.2100

Close: 2,538.8700

Mid: 2,545.0600

21
22
23

Open: 2,541.5700

Close: 2,556.7900

Mid: 2,548.5300

24

Open: 2,556.8100

Close: 2,548.9300

Mid: 2,547.5000

25
26
27
28
29
30
31

Compare Exchange Rates:

Know What the Best Exchange Rate Looks Like

Benchmark the exchange rate market with Pound Sterling Live's custom currency rate comparison tool with built-in algorithms to find the best rates in the market.

Why

Banks and financial institutions buy and sell currency from each other - these sizeable institutions are 'the market' and the rate they transact at is the 'market rate'. The difference between how much a currency is purchased and sold is the spread, which is essentially the difference between the buy and sell price.

But, when currency is sold by banks to retail customers that spread widens significantly and the profit on the transaction is therefore substantially larger.

Therefore when we focus on the transfer fee when sending money abroad we often miss the biggest cost: the exchange rate spread.

Foreign exchange providers have essentially recognised this and they enter the market to transfer money at tighter spreads, thereby saving potentially significant amounts of money for their clients simply by providing better exchange rates.

For example, the transfer of £100K into euros is expected to attract a rate that delivers between €112,480 and €113,296 with the UK's leading high street banks. But FCA authorised providers will provide a rate that delivers between €115,510 and €115,740 (using rates on 05/07/21).

Taking the time to work with a FCA regulated currency provider could therefore result in the delivery of an extra euros amount of between €2444 and €3030.

Safety is Everything

Pound Sterling Live only works with foreign exchange payment companies that are FCA Authorised. This is important: FCA regulations and oversight requires the money they transfer on your behalf to be protected through a process known as 'safeguarding'. Safeguarding requires the payments company to keep your money separate from their own money in a top-tier bank. Therefore if the provider comes under stress your money should be protected.