Canadian Dollar Improves
In particular, Wednesday and Thursday were good days for the Canadian dollar, rising about 1.25 cents on one day and about 0.80 the other to close at 82.10 cents per U.S. dollar yesterday, and dropping back only slightly today to a close at 81.78. The chart above shows the cost of buying American dollars, of interest would be the difference between a transaction you made Monday versus one you made on Thursday.
Is the rate about to change? David C. Cook recently made the conversion rate jump from 1.2500 to 1.3000 which throws some Spring Catalogue participants into a bit of tailspin. On the one hand, it changes the catalogue order form each time there’s a conversion change, but on the other hand, we’re thankful they held back as long as they did. Over at Foundation, conversions have been at 1.3000 or 1.3333 for a long time, so the Spring Catalogue stores have been unaffected. Foundation also grants their flyer partners a regular trade discount off the sale price, so stores make full margin on all advertised titles.
This year’s Spring Catalogue is a joint venture between DCC and FDI, with some additional titles from HarperCollins and two titles from Augsburg-Fortress Canada. I’ve written more about it at this article.
Data, images: Bank of Canada website.