The loonie dropped to its lowest point since May 2009 early in the trading day, changing hands at 84.90. Much of that is because of strength in the U.S. dollar — as opposed to weakness in the loonie — because the U.S. greenback has been gaining ground against virtually every other world currency for several weeks now.
The euro hit a nine-year low against the U.S. dollar on Monday, trading under 1.20 for the first time since 2005.
But some of the loonie's weakness was the same old story: an oil price that can't seem to find a bottom.
The price for a barrel of the benchmark North American oil known as WTI lost almost $2 on Monday and traded down to $50.91.
That's the first time oil has been that low since the summer of 2009, when the world economy was just starting to come out of a devastating recession.