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Canadian Economy Takes a Big Hit Due to Coronavirus and Hits Us All in the Pocketbooks

Posted by BK on 15th Mar 2020

DuraFast Label Company imports many products including label printers, ink cartridges, accessories, and raw materials for labels from USA, which subjects us to occasional issues when exchange rates fluctuate. The coronavirus crisis has been devastating to the Canadian economy. With this pandemic, oil prices have dropped drastically, causing the Canadian dollar to fall significantly and making it more expensive to source goods from USA.

As an example, before the coronavirus situation occurred, the average exchange rate was about 1.34 from US dollar to Canadian dollar. Currently, it’s been ranging between 1.40 and 1.45.

Since many of the products we sell in Canada come from USA based manufacturers, this is now putting pressure on us to increase their prices. As we replenish these items with new stock in Canada, some of our prices will be increasing. We are working to minimize this but wanted to let our customers know in advance so that you can plan accordingly.

Affected products include label printers from US manufacturers like Primera Technology,  Epson, Zebra, Afinia Label, and more as well as ink and toner cartridges, supplies, and accessories. Pricing on Epson printer inksPrimera inks and toners and  Afinia inks and toners will all be increasing by 7.5% to account for these changes.