The new Japanese Prime Minister, Mr. Shinto Abe has embarked on an aggressive monetary easing policy to revive the moribund Japanese economy. The exchange rate of the Yen has dropped from 75 to 100 to the US Dollar in a few months. For example, if Canon sold a camera for US $500, translated to their home currency, they will receive 50,000 Yen today, instead of 37,500 a few months ago, a 33% increase. The same principle applies to cameras sold in the Europe and other parts of Asia. The depreciated Yen enables large, global exporters like Canon and Nikon to be more flexible with the pricing strategies and still make a healthy profit.
Taking advantage of the 'weakened' Yen against many major currencies, Canon UK has put on their 2013 Spring rebate program. Click on the Canon UK Rebate page to see all the great deals. The Canon USA rebate is coming out tomorrow. Please check back on my Blog for more information. The Nikon UK Rebate page is here.