For the first time in 13 years the Canadian dollar has slipped below 70 cents U.S. as the price of oil continues to decrease.
The Bank of Canada shows the dollar fluctuating on a minute-by-minute basis, and before noon ET the Canadian dollar fell below 70 cents to 69.92 cents U.S. The last time the dollar was this low, according to the Bank of Canada, was in April 2003.
The Canadian dollar has been on a steady decline, partly due to the declining prices of a barrel of oil. Crude oil is trading at just above $30 U.S. a barrel.
The Canadian dollar reached an all-time low in January 2002 when it was at 61.79 cents per U.S. dollar. The highest the loonie has ever been was in November 2007 when it reached 110.3 cents U.S. The Bank of Canada closed at 69.997 U.S. at noon on Tuesday.
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