November 29, 2022

Canadian greenback extends weekly decline as oil costs slide

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TORONTO — The Canadian greenback weakened towards its U.S. counterpart on Friday, with the foreign money including to this week’s decline as oil costs fell and knowledge confirmed the most important divestment of Canadian securities by overseas buyers in almost 4 years.

The worth of oil, one in every of Canada’s main exports, was on observe for a second weekly decline, pressured by concern about weakening demand in China and additional rate of interest rises by the U.S. Federal Reserve.

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