The Canadian dollar fell to a 20-month low against the U.S. dollar on July 14, a day after the Bank of Canada announced a 100 basis point rate hike.
The Canadian dollar fell to as low as 75.62 cents per Canadian dollar in morning trade, its lowest level since Nov. 4, 2020; it then recovered to 76.06 cents.
The previous day, the Canadian dollar exchange rate against the US dollar was 77.07 US cents per Canadian dollar.
The Canadian dollar fell against the U.S. dollar due to the Bank of Canada raising its benchmark interest rate to 2.5% a day earlier, and "risk aversion" dragged the Canadian dollar lower.
(Headquarters reporter Zhang Sen)