Posts tagged with exchange rate
Prices starting to increase… still some special offers left.. but the next 12 months is looking expensive!
April 9th, 2009 by admin in Surfstore News
Since September 2008 there has been a huge fall in the value of Sterling on the international markets. While the Dollar and Euro remain strong the British pound’s value has plummeted on the international markets, to the point at which £100 of equipment bought into the country is now costing £145. Most importers hedge currency, buying currency ahead of time to minimise the volatility fluctuations and this helps keep the importers in business with steady trading conditions, ironing out the bumps and keeping retail prices constant. Most importers will only be able to hedge (or book currency) up to 12 months in advance, and now that they have used this all up since September they now have no choice but to pay the higher price.
