The Canadian dollar ascended against the US dollar Thursday, as a surge in crude price backed the currency.
US crude prices leaped 2.8% to $58.02, while Brent crude climbed 3.3% to $64.85.
The loonie closed at C$1.2146 per greenback or 82.33 US cents, from Wednesday’s C$1.2228 or 81.78 US cents.
The rally in oil prices has given another lift for Canada “on a generally weaker US dollar index day,” said Don Mikolich, Executive Director for Foreign Exchange Sales at CIBC World Markets.
The material has been provided by InstaForex Company – www.instaforex.com