Canadian dollar takes steepest one-day dive
4 hours ago
TORONTO (AP) — The Canadian dollar posted its steepest one-day decline against the U.S. greenback Friday, dropping by 4.5 American cents.
According to the Bank of Montreal's currency desk, the Canadian dollar was down 4.5 American cents in afternoon trading at 82.78 cents.
Canada's currency has lost more than a quarter of its value since hitting its all-time peak of $1.103 in November after a rapid three-month rise.
The Canadian dollar was last worth 83 American cents on March 16, 2005, according to the Bank of Canada.
According to the Bank of Canada's Web site, Canada's dollar hasn't fallen by more than three American cents in one day since June 21, 1961, when it lost 3.38 cents.
(This version CORRECTS Correct date of previous low to 2005 sted 2003. Moving on general news and financial services.)
