Loonie hits five-year low

UPDATE: The dollar closed today at 88.83 cents (U.S.).

Lower oil prices are being blamed for driving the Canadian dollar to a five-year low.

The loonie dropped to a low of 87.83 cents (U.S.) at one point, having hit a high of 88.58 cents and is sitting at just above the 88-cent mark this morning.

“We’ve seen a collapse in oil prices on the demand and supply outlook,”  chief currency strategist Camilla Sutton of Bank of Nova Scotia told the Globe and Mail. She pointed out the slump helped drive the loonie to a five-year low and Norway’s krone to its lowest in about four-and-a-half years.

Leave a Reply

Canadian Coin News


Canadian Coin News is Canada's premier source of information about coins, notes and medals.

Although we cover the entire world of numismatics, the majority of our readers are Canadian, and we concentrate on the unique circumstances surrounding collecting in our native land.

Send Us Your Event

Running an event? Send it to us and we will display it on Canadian Coin News!

Submit Event →

Subscribe To 26 Issues For Just $59.99/year

Subscribe today to receive Canada's premier coin publication. Canadian Coin News is available in both paper and digital forms.

Subscribe Now

We acknowledge the financial support of the Government of Canada through the Canada Periodical Fund of the Department of Canadian Heritage.