WINNIPEG – The Canadian dollar was higher on Monday as fighting rages on in Ukraine despite the start of talks between the country and Russia.
As of 8:38 a.m. CST, the loonie was at US$0.7863 or US$1=C$1.2718, compared to US$0.7845 or US$1=C$1.2747 on Friday.
The United States Dollar Index was up 0.22 of a point at 96.84. Meanwhile, after sanctions against Russia’s central bank came into effect, the ruble plummeted to C$0.0129 or C$1=77.71 rubles, compared to C$1=60 rubles last week.
Crude oil prices continued their rallies amidst Russia’s invasion of Ukraine. Brent crude oil rose US$2.81 per barrel to US$100.74. West Texas Intermediate (WTI) added US$3.28 to US$94.87/barrel. Western Canadian Select (WCS) jumped US$3.53 to US$83.23/barrel.
The TSX/S&P Composite Index took an early fall, shedding 71.61 points to 21,034.39.
Gold spiked US$23.60 per ounce to US$1,911.20.
