THE Canadian Dollar has been doing very well lately, surpassing the US Dollar and creating quite a stir throughout North America.
Jim Flaherty, Minister of Finance, has been working with retail industry representatives towards lower prices in stores to reflect the now stronger Canadian Dollar. So far, Zellers, and most recently Walmart, have agreed to slash prices.
"The Wal-Mart release cites a letter it sent to suppliers on Aug. 1, 2006, which noted that the strengthening currency provided "'unanticipated inflation of profit margins among our suppliers - and an opportunity to lower prices for Canadians.'"
However, Flaherty is continuing to pursue lower prices on a broader retail scale, in hopes that it will keep the Canadian Dollar on its native soil--with greater buying power, Canadians have been flocking to the States to shop, since price tags on Canadian merchandise has not changed, and the price difference on the tags between the Canadian and US prices is now making more evident the unfairness that we face.
Source:The Canadian Press
CBC.ca
CBC.ca
1 comment:
WOOHOOO for the Canadian $!!! Hopefully more retailers will lower there prices... =) p.s i'm going to the Jeanne Lottie sample sale tomorrow morning b/c i have a meeting @ 1pm if ur free around then ur more than welcome to come w/ me!
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