Loonie Drops Below 70 Cents U.S.
The Canadian dollar has closed below 70 cents U.S. for the first time in nearly 13 years.
The loonie finished the day at 69.71 cents U.S., down 0.43 of a cent since Tuesday’s close.
The last time the Canadian dollar closed beneath the 70-cent U.S. mark was on April 30, 2003.
Meanwhile, the Toronto stock market registered another triple-digit loss.
The S&P/TSX composite index lost 203.49 points to finish at 12,170.41.
The fall represents its 10th losing day in 11 trading sessions since the Christmas break.
Plummeting crude prices and lacklustre economic data out of China are being blamed for Toronto’s stock market poor performance in recent weeks.