Canada's Dollar Falls as Prices of Commodity Exports Decline


Canada's currency fell as the recent drop in the prices of the nation's commodity exports made the currency less attractive to international investors.

The Canadian dollar was the worst performer among the world's most active currencies today as crude oil dropped in the past week on concern an economic slowdown will reduce demand in the U.S., the world's biggest energy consumer. The price of gold has also declined. Commodities account for about half of Canada's exports.

The Canadian currency fell 0.2 percent to 99.75 Canadian cents per U.S. dollar at 8:51 a.m. in Toronto, from 99.53 Canadian cents per U.S. dollar on Feb. 1. One Canadian dollar buys $1.0026.


TradingEconomics.com, Bloomberg
2/4/2008 6:53:23 AM