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RBC Bank on Bay Street, Toronto. August 2, 2013.
RBC Bank on Bay Street, Toronto. August 2, 2013.
(Gloria Nieto/The Globe and Mail)

Insiders ditch financial stocks as loonie slides

Canadian corporate insiders are reacting to this month’s plunge in the value of the loonie by selling financial stocks.

According to INK Research, which monitors the buying and selling of shares by officers and directors within their own businesses, absolute dollar selling levels among insiders in the financial sector - when excluding real estate investment trusts - rose to above-average levels during the week of Jan. 6 when the Canadian dollar lost 2 cents (U.S.) against the greenback.