Dollar And Shares Surge As Distributors Roll Out Price Rises
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Only days after the Australian dollar plunged to new lows, distributors have started to roll out prices in a move that could impact the specialist channel. The prices come as both the dollar and Australian shares rise in early trading.

Hills SVL the distributor of Crestron has jacked up prices by up to 12%. The move will impact installers who have quoted jobs but not purchased the automation gear needed finish an installation.

International Dynamics has lifted the price of their Rotel range of products by up to 25%.

In a statement issued today Hills SVL said “Due to the continued fall in the value of the Australian Dollar against most major currencies, we will be issuing new price lists effective November 3rd 2008. The level of the price rise varies between around 7% and 12%, depending on the brand, supplier price increases and the currency in which we purchase”
The Company went on to say “Any current quotes will only be valid until October 31st 2008”.

Earlier today Australian stocks soared after dramatic moves at home and abroad over the weekend to shore up financial confidence and thaw the global credit system.

In early trade, the benchmark S&P/ASX 200 index rose as much as 5.8%, or 229.3 points, to 4190.0.
The Australian dollar leapt in early trading, gaining more than 4% to 68.07 US cents. It jumped 3.7 yen, or 5.6%, to buy 68.77 yen