TORONTO - The Canadian dollar closed lower Wednesday with traders generally avoiding riskier assets in the wake of reduced economic growth expectations from the International Monetary Fund.

The currency slipped 0.22 of a cent to 101.97 cents US as traders also took in data showing rising economic growth at the end of the summer in nearly every region of the United States. The Federal Reserve says in its latest regional survey that growth improved in 10 of its 12 regional banking districts from mid-August through September. Rising home sales helped lift home prices in most districts.

The report, known formally as the Beige Book, also cited an increase in auto sales in most parts of the U.S.

Still, consumer spending was flat or up only slightly in most districts.

The IMF on Tuesday reduced its growth forecast for the world economy to 3.3 per cent this year from the previous estimate of 3.5 per cent. Its forecast for growth in 2013 is 3.6 per cent, down from 3.9 per cent three months ago and 4.1 per cent in April.

The IMF also reiterated its concerns over the crisis in the eurozone and warned that the recession in Spain was worse than it thought.

Adding to concerns about slowing growth was Alcoa Inc. The resource giant kicked off the start of the third-quarter earnings season late Tuesday and predicted aluminum demand would grow six per cent this year, down from seven per cent in the previous quarter, primarily because of slower growth in China.

The aluminum producer is viewed as a broad economic bellwether as its products are used in a wide variety of industries, from vehicles to appliances.

Oil prices continued to find support from worries that the fighting in Syria could impact Mideast oil supplies. The November crude contract on the New York Mercantile Exchange gained $1.16 to US$93.55 a barrel, adding to a gain of more than $3 Tuesday, even as the Organization of the Petroleum Exporting Countries lowered its forecast for global oil demand in 2012.

OPEC said that world oil demand will grow by 800,000 barrels a day in 2012, down 100,000 barrels from its previous forecast.

December gold added 10 cents to US$1,765.10 an ounce while December copper was unchanged at US$3.71 a pound.

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• Bank of Montreal Dollar - 1825

  Until the mid-19th century, Canada's future provinces used the "Canadian pound." Bit by bit, various jurisdictions began to switch to a metric system, and with it came the concept of the Canadian dollar. This Bank of Montreal-issued dollar bill is among the first bills called a dollar to have been printed.

• Bank of Montreal Dollar - 1859

  Various banks printed their own currency until eventually the Bank of Montreal was charged with being the official issuer of the Canadian dollar, a practice that stayed in place until the Bank of Canada was created in the 1930s.

• Bank of Toronto Dollar - 1859

  The Bank of Toronto (today known as TD Bank) was among many banks that issued Canadian dollars in the second half of the 19th century.

• Ontario Bank Dollar - 1861

  Image courtesy of the Bank of Canada.

• Province of Canada Dollar - 1866

  The province of Canada comprised Ontario and Quebec and existed from 1841 to 1867. It issued its own currency. Image courtesy of Bank of Canada.

• Dominion of Canada Dollar - 1870

  With confederation in 1867, the first truly national Canadian dollar came into being. Image courtesy of the Bank of Canada.

• Dominion of Canada Dollar - 1898

  Image courtesy of the Bank of Canada.

• Dominion of Canada Dollar - 1911

  Image courtesy of the Bank of Canada.

• Dominion of Canada Dollar - 1917

  Image courtesy of the Bank of Canada.

• Dominion of Canada Dollar - 1923

  Image courtesy of the Bank of Canada.

• Bank of Canada Dollar - 1935

  The Bank of Canada took over the issuance of currency from the Bank of Montreal when it was created in the 1930s. Image courtesy of the Bank of Canada.

• Bank of Canada Dollar - 1937

  Image courtesy of the Bank of Canada.

• Canada Dollar - 1954

  The 1954 dollar was the first to feature Queen Elizabeth II and the first to simply say "Canada" on it, rather than featuring the name of a bank, province or referring to the country as a "dominion."

• Centennial Dollar - 1967

  Image courtesy of the Bank of Canada.

• Canada Dollar - 1973

  This was the last paper dollar issued in Canada. It was in circulation until 1987, when the loonie replaced it. Image courtesy of the Bank of Canada.

• The Loonie - 1987

  The loonie replaced the one-dollar bill in Canada in 1987. Image: CP

• Canada 125 Loonie - 1992

  The Mint issued a special edition of the loonie in 1992 to commemorate the country's 125th birthday.

• Vancouver Olympics Loonie - 2010

  An Inuit inukshuk graced the tail of this loonie issued in 2010 to coincide with the 2010 Winter Games in Vancouver.

• The Loonie - Anniversary Special - 2012

  The Royal Canadian Mint issued a special-edition version of the loonie in 2012 to commemorate the coin's 25th anniversary. Image: Royal Canadian Mint.