By Commodity News Service Canada
WINNIPEG, March 8 – The Canadian dollar finished lower
against its US counterpart on Wednesday, as a plunge in crude
oil prices sank the commodity-linked currency.
The price of a barrel of light sweet crude oil on the New
York Mercantile Exchange declined by 5.53% today and is now
trading for US$50.20. That is the lowest point in nearly a year.
The Canadian dollar closed at C$0.7411 or US$1=C$1.3494,
compared to Tuesday’s close of C$0.7460 or US$1=C$1.3404.
The S&P/TSX Composite Index recorded losses on Wednesday.
The drop in crude oil fueled a 4% decline in the Toronto Stock
Exchange’s energy group.
Encana fell 5.8% while Suncor dropped 4%.
The index fell 111.80 points or 0.7% to 15,496.98.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.17 at $ 32.27
Agrium Incorporated———-dn $ 0.43 at $127.52
Buhler Industries————– $ 0.00 at $ 4.65
Maple Leaf Foods————-dn $ 0.05 at $ 30.88
Potash Corp. of Sask———dn $ 0.10 at $ 22.83
(All figures are in Canadian dollars.)
