Canadian Dollar Falls To Record Low

Fri., June 12, 1998

From Staff

The Canadian dollar set an all-time trading low Thursday, dropping below 68 U.S. cents for the first time in its 140-year history.

The dollar hit 67.98 cents in afternoon trading in Toronto before closing at 68.04 cents. It closed at 68.00 cents in New York.

The previous low, set in January, was 68.10 cents.

The Canadian currency has been weak for months because of the impact of the Asian financial crisis on Canadian commodity exports such as lumber, coal and minerals.

The weak dollar has hurt Canadians traveling to the United States, but it has attracted U.S. bargain-hunters to Canada. It also has helped some Canadian firms by making their goods more affordable in the United States.

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Canadian Dollar Falls To Record Low

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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