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Canadian dollar following closely behind plunging oil prices
Published Sun, Aug 16, 2015 · 09:50 PM
WHEN asked to consider the impact of falling resource prices on a nation's economy, our attention naturally turns to neighbouring countries like Australia.
Looking further from home though, the Canadian economy and its currency stand out as among the hardest hit by the recent oil crisis.
With Canada being the fifth largest producer of oil worldwide, its dollar is seen as a petrocurrency whose value correlates closely to oil prices.
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