10 Worst Performing Currencies of 2024

7. Canadian Dollar

1 USD = 1.44 CAD

2024 Returns: -7.9%

The Canadian dollar struggled through most of 2024, settling into a typical midrange until giving up in the fourth quarter and falling to multi-year lows versus the US dollar. Since the beginning of the year, the Canadian dollar’s value has fluctuated between $0.69 and $0.70, something not seen since the COVID-19 pandemic back in 2020. Conditions that have led to the plummeting currency include instability in the federal government, federal budgetary deficits, worries about proposed tariffs by the Trump government, and a higher US dollar.