Canadian Dollar Holds Steady as Crude Oil Prices See Mixed Reaction

The Canadian dollar remained relatively stable on Friday, experiencing only a minor fluctuation in its value against the US dollar.

According to the exchange rate, the loonie closed at US$0.7020 or US$1=C$1.4246, virtually unchanged from Thursday's close of US$0.7021 or US$1=C$1.4243.

The US Dollar Index declined by 0.208 of a point to 101.675.

Benchmark crude oil prices were mixed on Friday, with West Texas Intermediate losing US$1.41 at US$91.46 per barrel due to the G7's announcement to release 100 million barrels of oil and diesel supplies from their strategic reserves.