CANADA FX DEBT-Canadian dollar tumbles to 3-month low

Mon Mar 2, 2009 3:19pm EST
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TORONTO, March 2 (Reuters) - The Canadian dollar hit a three-month low against the U.S. dollar on Monday, extending weakness spurred by renewed risk aversion and the declining price of crude oil.

At 3:09 p.m. (2009 GMT), the Canadian dollar was at C$1.2910 to the U.S. dollar, or 77.46 U.S. cents, down from Friday's close of C$1.2723 to the U.S. dollar, or 78.60 U.S. cents.

The currency fell to its lowest level since early December as worries over the global financial system prompted a flight to the safety of U.S. dollar assets, and the price of crude fell more than 10 percent to around $40 a barrel. (Reporting by Ka Yan Ng; editing by Rob Wilson)