TORONTO, December 11 /CNW/ - Travelex, the world's leading currency
exchanger, is experiencing a 20 percent increase in demand for US dollars from
Canadian citizens crossing the border to shop for the holidays.
"In the last several weeks, we've seen more and more Canadians making the
trip across the border to take advantage of the increasingly favorable
exchange rate," said Jon Dario, North American retail director. "We've
experienced a huge demand for Canadian to US dollar exchanges compared to last
year at this time. Customers are even reporting that their bank branches have
run out of US dollars."
The US dollar has steadily depreciated against the Canadian dollar, from
1.15 in December 2006 to 0.92 last month. That means Canadian shoppers can buy
the same Xbox their children crave for an eight percent discount in the United
States. Popular shopping destinations are western New York, Maine,
Massachusetts, Montana and North Dakota.
To respond to the demand, Travelex, which hosts retail exchange stores
throughout Canada, has increased stock of US dollars and is offering Shopper
Value Packs. The value packs offer the best exchange rates, waive the typical
service fee and guarantee currency return for exchanges of $450 to $1,200.
Shopper value packs are available for a limited time.
Travelex is the world's foreign exchange and business payments
specialist. The group is also one of the world's leading providers of
outsourced travel money to banks, travel agencies and other financial
The group operates through its subsidiaries and branches in four regions:
the United Kingdom; Europe, Middle East and Africa; the Americas and Asia
Travelex is the world's largest retail foreign currency exchange
specialist, with nearly 700 retail branches. The business principally operates
bureaux de change in airports and tourist locations. Travelex also sells
banknotes and other foreign exchange and travel-related products by providing
services to individuals traveling for business and leisure.
For further information:
For further information: Travelex Annie Jensen, 917-288-5244 or Patti