pound + dollar exchange advice

Log in to reply
S

silverlake77

  • #1
    Hi i was wondering if somone could clarify some thing for me.
    We buy furniture from importers who import from the far east, china mainly.
    My supplier has just put up there prices by almost 25% !! they say its down to the dollar being so weak against the pound, (i presume the dollar is the preffered currency in the far east).
    Can anyone confirm that this is right? or explain a little more about how it works.
    Many many thanks
    John
     
    S

    Simon-M

  • #2
    If they have a dollar account at the bank and expect you to pay in dollars then it is fair. Their own costs being tied to a weak dollar will affect all their international clients.

    I am pretty lucky myself right now because I do a lot of biz in the USA and the dollar being down the pan works great for me. I make 25% extra sitting on my butt. The thing is though I have ridden a crap exchange rate for about five years so right now is pay back time :)

    Simon
     
    • Like
    Reactions: FireFleur
    Upvote 0
    J

    Jon123

    Free Member
    Jan 28, 2006
    204
    10
  • #4
    Hi John,
    I currently import furniture from the far east and the dollar is causing prices to shoot up however 25% seems high as a lot of chinese suppliers are discounting and the yuan is getting stronger which is the currency the suppliers change there dollars in to. Also shipping is very cheap at the moment compared to last year

    Would be interested to see how much you are paying for some of your items as it looks like I import what you sell.

    Cheers
    Jonny
     
    • Like
    Reactions: FireFleur
    Upvote 0
    Paul Kelly ICHYB

    Paul Kelly ICHYB

    Moderator
    • Jan 21, 2008
    10,100
    1
    2,325
    London
    icanhelpyourbusiness.co.uk
  • #7
    John,

    the statement from the supplier is only valid if you pay them in £. Where it was $2/£1 several months ago, it is $1.5/£, which is a 25% shift. The fact that they have only just put up your prices is a benefit to you and a silly (and possibly costly) over sight on their behalf.

    Have you thought about importing yourself?

    Mister B - 'costs have gone up by around 30%' - havent you seen a reduction in shipping/container charges?

    JustB - '£2 to the dollar' - the wrong way around!
     
    Upvote 0
    M

    Mister B

    Free Member
    Aug 31, 2007
    2,658
    639
  • #8
    consultant said:
    Mister B - 'costs have gone up by around 30%' - havent you seen a reduction in shipping/container charges?
    Click to expand...

    Seen a reduction in these charges but in the grand scheme of things, the amount saved on shipping goes no way near what I would need to offset the currency fluctuation. Can't moan too much though as I made hay whilst the £ was worth over 2USD and you need to take the rough with the smooth:)

    Mister B
     
    Upvote 0
    Log in to reply

    Latest Articles

    Top Bottom
    Community
    Articles
    Menu