Loonie Holds Steady as Crude Oil Prices Slide

The Canadian dollar held steady on Wednesday, finishing at its highest close in two months.

The Loonie finished at US$0.7179 or US$1=C$1.3930, a virtually unchanged rate from the previous day's close of US$0.7180 or US$1=US$1.3927.

Crude oil prices declined after a report showed a significant increase in U.S. oil exports, leading to a 17.4 million barrel gain, the largest in three years.

The West Texas Intermediate crude oil price dipped by US$0.30 per barrel to US$82.90, while Brent crude oil fell by US$0.26/barrel to US$88.65.