Canadian Exchange Rates....

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Mikey the Flower Guy

Mikey the Flower Guy

It's a GREAT DAY to live, and love!
Nov 10, 2002
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Dundas, Ontario, Canada
www.hamiltonflorists.com
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have been altered in time for FTD Christmas orders...as of Dec. 01/04, just as PROMISED by Mike Soenen at The Ontario Florists Conference!!
The NEW RATE is $ 1.20 CDN to $ 1.00 US.
This is good news for your customers, and we've held off several of our Christmas pre-orders, advising our senders to hold off until after the 1st!!
 
Well teleflora is behind as usual....they only want to give 1.25 on the dollars and it starts on the 6th...
Luc
 
The true conversion rate is an awesome $1 USD to $0.84 CDN. The banks, as with VISA, etc, usually charge a small % for the service of conversion. So effectively it's about 82 cents on the dollar today. That's certainly not normal, but with the US economy going down it is a good time for the Canadian dollar.

Ryan
 
BTW, I should mention the strong CDN dollar makes this an excellent time to jump on board the MAS freight train in Canada!!!

Ryan
 
Mikey the Flower Guy said:
have been altered in time for FTD Christmas orders...as of Dec. 01/04, just as PROMISED by Mike Soenen at The Ontario Florists Conference!!
The NEW RATE is $ 1.20 CDN to $ 1.00 US.
This is good news for your customers, and we've held off several of our Christmas pre-orders, advising our senders to hold off until after the 1st!!
Click to expand...

We contacted Frank before OFC because we had customers cancel orders to the States because of the rate. He promised to get it looked into/fixed for the holidays. We got notification from him last week, nice to know that the wire service is listening.

Audra
 
Clarification please

I'm having trouble understanding. It must be your accent. Just kidding.

Mickey is saying that based on the WS rate, $1.20 in Canadian money will buy $1.00 in US goods. True?

Ryan, however, is saying that the current bank rate shows $.84 in Canadian buys $1.00 in US goods.

One seems to conflict with the other. What am I missing?
 
Griff,

Backwards is all .... $0.84 in USD will purchase $1 Cdn.

Ryan
 
It's actually TWO seperate issues...

FTD has moved the exchange rate to $1.20 CDN to $1.00 US, whereas, the current "BANK RATE" is .....
<TABLE cellSpacing=3 cellPadding=2 border=0><TBODY><TR><TD align=middle>[font=Arial,Helvetica][size=-1]Live mid-market rates as of 2004.11.29 13:12:58 GMT. [/size][/font]</TD></TR><!XERC-UCC2-P1.4-R1><TR><TD vAlign=center align=middle><TABLE cellSpacing=0 cellPadding=5 border=0><TBODY><TR vAlign=center><TD align=right>[font=Arial,Helvetica][size=+1]1.00 CAD[/size][size=-1]
Canada Dollars [/size][/font]</TD><TD> </TD><TD align=middle>[font=Arial,Helvetica][size=+3]=[/size][/font]</TD><TD> </TD><TD align=left>[font=Arial,Helvetica][size=+1]0.844433 USD[/size][size=-1]
United States Dollars [/size][/font]</TD></TR><TR><TD align=right>[font=Arial,Helvetica][size=-2]1 CAD = 0.844433 USD [/size][/font]</TD><TD colSpan=3></TD><TD align=left>[font=Arial,Helvetica][size=-2]1 USD = 1.18423 CAD [/size][/font]</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
 
Thanks. Now it makes more sense. Sending a $35 Canadian order to the US will get about $42 in US value. Going the other way, we have to get a minimum of almost $50 to get anything sent up there because of a weak US dollar and taxes at your end.

On a program the other night, a family was traveling in England and they were shopping in London. One of their children needed a pair of gloves because they had forgot to pack them. Bought a pair of cloth gloves for x pounds and when they did the conversation, they discovered they paid almost $50 US.
 
Griff,

You're still backwards, I think. The US dollar is worth MORE. Now, bear with me a bit, since I have only had 2 sips of coffee today ...

A $40 US arrangement is worth $48 Canadian using the FTD rate, or $50 using the TF rate. This is for an order being sent from Canada to the US. The customer pays the Canadian florist in Cdn dollars.

If a shop in the US sends $40 USD for an arrangement to Canada, the Canadian florist will have $48 to fill with using FTD or $50 using TF.

Hope this helps!

Ryan
 
So, for a Canadian florist, it is better to send FTD but to receive Teleflora.
Is this an argument for belonging to both wire services? :)
 
potted plant growers

I understand that some large potted plant growers are is some serious financial straight jackets. Due in large part because of the effects of the change in exchange rates. Many seem to be involved in supplying the big box outlets.

Also, a large cut flower grower is curtailing production for the same reason.

Fact, rumor, BS.????
 
Simple Math Griff..

One enters the Canadian Casino with $100 dollars in US funds and one Receives $120.00 or so in Canadian Funds. One who cashes in on $100.00 or so in Canadian funds to be converted to USA Funds recieves $82.00 US funds.

At one point about two years ago One could get $150.00 Can for $100.00 US..Right folks? I know my Math within the Borders but the GST will blow your mind!.
 
Hey Blue,
It gets worse; there's also the HST!!! :boggles:
 
Yes Rock..

Blue had blown his gasket a few week ago but your right..the HST and GST is such a mess for us here in the American side except for the few who on this side who try to understand the exchange rates and BST (BS Taxes) LOL!. Really tho the providences of Canada have made the Tax Math Quiz even more difficult.

It's amazing Rock which providence? set's the rate? of GST or HST???? it sounds like a disease. I get it..
 
flowerknife+us said:
I understand that some large potted plant growers are is some serious financial straight jackets. Due in large part because of the effects of the change in exchange rates. Many seem to be involved in supplying the big box outlets.

Also, a large cut flower grower is curtailing production for the same reason.

Fact, rumor, BS.????
Click to expand...

From what I've been told you can get 6" poinsettias out of Ontario and Quebec under $3.50 cdn, the local prices here are over $6.00 and everyone around here have an over supply , so maybe the local price will drop accordingly. This is the first year that we haven't grown our own , we gave it up , cheaper to buy the 300-400 we need than to grow.
 
Hey Blue Mikey....

the GST/HST tax is a FEDERAL tax, and the PST is the PROVINCIAL tax. The GST/HST is universal across the country (more or less) and the PST is set by each individual province. ONE province, Alberta, has NO PST
 
Mikey

Wow, and I thought our tax laws were hard to understand. Mind boggling to say the least. I guess the providence tax thing is like each state in the us setting their own state sales tax rate and like Alberta, Oregon has no state sales tax.
 
the GST and HST are...

"throughput" taxes.....a supplier charges me $4.00 for a plant, adds $0.28 GST to my invoice, and I "claim" $0.28 as a GST "input" then charge MY customer, MY retail price PLUS the GST (7%), and save that total in a GST file.
At the reporting period, IF my "inputs" exceed my claims, I get money back..IF NOT, I PAY the balance owing.....
 
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