Canadian Dollar's Worst Rout Ever Raises Petro-State Worries
- Three straight annual losses are the longest and deepest
- Canada more exposed to oil than Russia, Mexico, Norway
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A decade ago, Canada set out to become an energy superpower. Now, it enters 2016 riding down one of the world’s most battered petro-currencies.
When the clock struck midnight on Dec. 31, the loonie, so-called for the bird engraved on the dollar coin, officially recorded its longest and deepest downturn since it became a floating currency in 1970. And there’s no relief in sight.