By MarketsFarm
WINNIPEG, March 16 (MarketsFarm) – The Canadian dollar was stronger Wednesday morning, as the country’s rate of inflation hit its highest level in over three decades.
At 9:24 a.m. CDT Wednesday morning the Canadian dollar was at US$0.7869 or US$1=C$1.2708, which compares with Tuesday’s close of US$0.7811 or US$1=C$1.2803.
Canada’s annual rate of inflation came in at 5.7 per cent in February, according to a report from Statistics Canada. That beat expectations and marked the highest level since August 1991.
World equity and energy markets were up on Wednesday amid increased optimism over possible peace talks between Russia and Ukraine.
West Texas Intermediate was up by 1.5 per cent at US$97.98 per barrel.
The TSX was higher, up 274.53 points at 9:24 CDT, trading at 21,462.37 points.
