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Canadian dollar steadies near 19-month low; posts worst year since 2015

by_fergal_smith
Canadian dollar steadies near 19-month low; posts worst year since 2015

At 3:37 p.m. (2037 GMT), the Canadian dollar was trading nearly unchanged at 1.3635 to the greenback, or 73.34 U.S. cents. The currency, which has been pressured in recent months by a sharp drop in the price of oil, one of Canada's major exports, and volatility in equity markets, hit its weakest intraday level since May 2017 at 1.3665. "It has been a pretty terrible year for the Canadian dollar," said Rahim Madhavji, president at Knightsbridge Foreign Exchange.