where there’s smoke there’s forum fire
So my daily check has the current exchange rate @ 99.67 Yen \ Dollar. It wouldn't surprise me to see it close above 100.
In other related news, I see that my local camera store (Precision Camera in Austin TX)put new rebates in place on most of their Nikon hardware. Of course even with the rebates, they are nowhere near competitive with Amazon, but this is as close as I've seen the two in some time. Perhaps rebates will come to Amazon \ Adorama soon.
According to google this Morning, the Yen\Dollar ratio cleared the century mark. For perspective, the average exchange rate for 2008 was about 105. When is Nikon going to send a little of this love back our direction?
The USD/JPY rate made for a "convenient truth". They damn near marked the bottom with their press release.
As I previously opined, they hiked then, so when the rebates come, they in effect will be charging the going rate, as opposed to truly discounted. In essence, they served us a bowl of hot steaming dung.
Since they already know percentage wise how much biz comes in what currency they can easily hedge they exposure. Not exactly a novel idea, especially for a company of their experience with the global markets. If you closely check, unlike the aholes here, they are loyal to their country, and much is made in Japan, even the printing of manuals, all the more reason to hedge.
I found it quite ironic that while they bellyached about the currency rates, they forgot to add the HUGE advantages in the plummeting costs in electronics/semies - I am uncertain what % of the total cost that is but its gotta be considerable, especially in bodies (less so in lenses).
This moment it is 100.3150.
FWIW
I think the problem with setting up a right price is not the USD/JPN or any currency to USD ratio but the continuous fluctuation of the ratio. It's really hard to make any business if the exchange ratio is changing on a daily basis, and when the changes are so high like it was during the last couple of months. I know that there are some ways to prevent this exchange fluctuations, i.e. bank options (sorry if the translation is not correct, it's a direct translation); however, they didn't work for companies in my country. So, concluding I think that we will see some rebates, shortly after the market stabilization - no matter if the exchange ratio will be in favor for one or other currency.
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