The Canadian dollar dropped to a four-year low this week, prompting concern from at least one Calgary business owner.
The Canadian dollar closed at 1.40 against the U.S. dollar on Thursday, or 71.25 U.S. cents, marking its fifth straight day of declines.
Ryan Schoel, owner of The Costume Shoppe on Blackfoot Trail, says it’s inevitable that Canadian consumers will see prices increase if the Canadian dollar stays low.
“The average Canadian doesn’t really notice (the low exchange rate) until they go to buy something and it cost more,” he said.
Schoel sells his product in Canadian dollars, but says he purchases it from both Canadian and American suppliers.
He says even his Canadian suppliers are most often buying their product from America.
“Everything we buy, it’s an illusion that we buy it in Canadian dollars, we buy it in American (dollars) first,” he said.
Schoel says he does what he …