Home > Uncategorized > Canadian Dollar Closes Below 0.93 US

Canadian Dollar Closes Below 0.93 US

The Canadian dollar closed yesterday at 0.9283, a three-year low. Without service fees (usually about 2.5%) from your financial institution, buying a U.S. dollar at yesterday’s closing price would cost you 1.0772 CDN. If a store in Ontario were purchasing something from Ingram (where the flat rate shipping is 8.5%) and wanted to maintain full margin; the net cost multiplied by the exchange rate plus 2.5% leaves an effective conversion rate of 1.1979. That would mean adding 20% to the U.S. retail price. The problem is, the U.S. retail price appears visibly on most book product now, and customers get skittish when the exchange is greater than the 1.077 they hear on the evening news. Overall, the best bargain currently is buying wholesale from David C. Cook, where book conversions always run under 10%. If you set a minimum of $300 (as our store does) you can usually keep shipping in the 5-6% range in Manitoba, Ontario and Quebec.

Follow the rates daily just after noon and just after 4:30 PM EST at this link.

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Categories: Uncategorized
  1. rae-anne
    January 8, 2014 at 11:58 am

    wondering your thoughts on stl. I have only ordered from them a few times and not sure if their shipping deal is good or not. it kind of has me confused. plus they dont have the selection of ingram but they are faster if you need to order anything on wed to friday as ingram only ships monday morning and tuesday morning

    • January 8, 2014 at 12:19 pm

      We’ve been more than thrilled with Send the Light over the last few years. We give them first pass on import items, and then use Ingram as the backup. There’s a 15 unit minimum for online orders, and our account is flagged somehow not to release backorders until we send a new order, which we do approx. every 4-5 working days. Canadian orders are assessed a 6% fee, and the actual shipping charges are deductible if you pay the 10th of the month following, which we also do online. They ship every day. I get DHL orders within 48 hours, and UPS orders in 4 working days. At Christmas, I asked if I could specify DHL and they allowed it. Karen, the Canadian order in-house rep. is great to work with. You can also put a few non-book items (i.e. giftware) in your order, whereas Ingram only allows books, CDs and DVDs in Canadian shipments. Sometimes the discounts are better as well, you get access to specials and closeouts that you don’t with Ingram, unless you use the Pennsylvania warehouse, and I’m not even sure they do that currently. They also own Great Value Books, but it has different shipping protocols and you can’t combine GVB orders with STL orders.

      Hope all that helps.

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