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* C$ drops to C$0.9930 to the U.S. dollar, or $1.0070
* Weakest level since March 17
TORONTO, Aug 8 (Reuters) - Canada's dollar weakened to a near five-month low against the U.S. currency on Monday, approaching parity, as global unease about a possible double-dip U.S. recession and European and U.S. debt crises weighed.
The Canadian dollar CAD=D4 fell as low as C$0.9930 to the U.S. dollar, or $1.007, its weakest since March 17. (Reporting by Andrea Hopkins; Editing by Jeffrey Hodgson)