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Crude Surge Lifts Exporter Currencies as OPEC Said to Reach Deal

Currencies from crude exporting nations rallied Wednesday, riding a surge in oil prices higher after OPEC agreed to cut production during discussions in Algiers.

The Canadian dollar, Russian ruble and Norwegian krone paced gains as the Brazilian real and Mexican peso also advanced. The loonie jumped 0.8 percent to C$1.3097 per dollar at 4:19 p.m. in New York, its biggest advance in more than three weeks. Crude surged 4.5 percent to $46.70 a barrel in New York after rising as much as 6.2 percent earlier in the day.