With the introduction of the Canadian currency in September 2016, mechanical pencil users have had a big upgrade to their products.
The new Canadian dollar is now worth nearly a dollar less per unit.
The Canadian dollar has been gaining about 1.5 per cent a month.
The increase is a good thing for Canadian businesses, says Mike Luecke, managing director at Luecs Luecker Investment Services.
The value of the new Canadian currency has also led to a big increase in the price of mechanical pencil purchases.
“If you buy a lot of mechanicals now, that is a great investment,” Lueck said.
The price of a $10 mechanical pencil rose nearly 4 per cent to $1,069.80 from a previous day’s $1.059.
“I think it is going to continue to go up,” he said.
“We see that dollar rising.”
Luecik said the Canadian Dollar Index is now more than 9 per cent higher than it was in mid-April.
It has now been at about 9.5 since the beginning of the year.
“It is definitely trending higher,” Lues Cauchemar said.
Luecki, the mechanical pencil maker, said he expects the Canadian dollars strength will continue to rise.
“With the dollar strengthening, we are going to see higher demand for mechanical pencil, especially in the U.S.,” he said in a statement.
“In Canada, we have been growing steadily and are doing very well.”