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Forex

Loonie Dips as Oil Prices Plummet Amid Strait of Hormuz Relief

Guavy AI Editorial Team
Instruments
CAD
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The Canadian dollar experienced a dip in value this week, closing at US$0.7108 on Tuesday after a long weekend.

This marks a slight decrease from the previous Friday's rate of US$0.7128.

The Bank of Canada did not provide an exchange rate for Monday due to the civic holiday.

Crude oil prices also saw a decline, with West Texas Intermediate dropping by US$4.63 per barrel at US$75.71 and Brent crude oil losing US$4.58/barrel at US$79.19.

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