Subject:
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Re: Excessive exchange rate between US and Canada
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Newsgroups:
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lugnet.general
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Date:
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Thu, 7 Jul 2005 18:01:27 GMT
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Viewed:
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911 times
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"Andre Potvin" <potvin.a@videotron.ca> wrote in message
news:IJ9Hwy.23z5@lugnet.com...
> I would like to know if other customers from Canada are more and more
> frustrated
> because of the Lego's fixed exchange rate of 40% (normaly around 1.22).
>
> Why, if the free trade agreement exist, and the closing of facilities in
> Canada
> to concentrate in USA all the services, including Lego Shop at Home, why
> the
> Sales and Deals are differents?
>
> And why Canadians have to paid 40% more than US when the real exchange
> rate is
> around 22%.
>
> I know few big customers in Montreal area stopping to buy Lego because of
> that .
>
> I would like to have your comments on this point, if you spend less on
> Lego, and
> if somebody knows somebody at Lego to correct this situation totally
> unfair in
> my opinion.
>
> Have a good day
> Andre
Can't answer all of your points, but on the exchange rate, the answer may be
like this:
Many global companies which do business in multiple countries set a
corporate exchange rate at the start of each business year. Despite the fact
that real exchange rates fluctuate constantly, the corporate rate is set in
stone until the next business year. This makes dealing with stock and money
transfers easier.
We do it at my company - for example, when I travel to the UK and acrue
business expenses, if I pay for things on my own credit card instead of the
company cc, then when I submit the expenses claim, I use the corporate rate
to convert from pounds to dollars instead of the real rate.
I guess the question is, was the real exchange rate somewhere close to the
40% at some time withing the last 12 months? If so then I'm guessing that
that is when their corporate rate was set.
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Message has 1 Reply:
 | | Re: Excessive exchange rate between US and Canada
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| (...) All administration, stocks, Shop at Home services are managed from US. When we call S at H in Canada, all calls are redirected in USA. It's not a question of dealing with stock or money or repaid some expenditure during a business trip. It's (...) (19 years ago, 8-Jul-05, to lugnet.general)
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Message is in Reply To:
| | Excessive exchange rate between US and Canada
|
| I would like to know if other customers from Canada are more and more frustrated because of the Lego's fixed exchange rate of 40% (normaly around 1.22). Why, if the free trade agreement exist, and the closing of facilities in Canada to concentrate (...) (19 years ago, 7-Jul-05, to lugnet.general)
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