STRONG DOLLAR FORCES CANADIAN BOOKSTORES TO LOWER US BOOK IMPORT PRICES
July 1st, 2006
BY MONICA DOBIE, in Montreal
CANADIAN distributors of US imported books have slashed prices by as much as 20% because an outdated currency conversion from American to Canadian dollars has now been adjusted.
For example, 'The Glass Castle' by Jeanette Walls had been priced at CDN$19 - which was 36% higher than the American price of US$14, reflecting the average exchange rate before 2005. But since then, high oil prices have turned oil sands-rich Canada's dollar into a valuable petrocurrency: for roughly the past three months the Canadian dollar has hovered at ...
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