Key Currency Exchange Rates for Friday, 5/19/23

American Dollar to Canadian Dollar = 0.772086; American Dollar to Chinese Yuan = 0.156568; American Dollar to Euro = 1.167135; American Dollar to Japanese Yen = 0.009137; American Dollar to Mexican Peso = 0.050923.

FedEx Express, FedEx Ground and FedEx Freight will increase shipping rates beginning January 4, 2021. These rate changes enable FedEx to continue investing in service enhancement, fleet maintenance, technology innovations and other areas to serve customers more effectively and efficiently. FedEx Express shipping rates will increase by an average of 4.9% for U.S. domestic, U.S. export and U.S. import services. FedEx Ground and FedEx Home Delivery shipping rates will increase by an average of 4.9%. FedEx SmartPost shipping rates will also increase. FedEx Freight shipping rates will increase by an average of 4.9% for customers who use FXF PZONE and FXF EZONE, and by 5.9% for customers who use FXF 1000 and FXF 501 for shipments within the U.S. (including Alaska, Hawaii, Puerto Rico and the U.S. Virgin Islands) and between the contiguous U.S. and Canada. FedEx Freight shipping rates will also increase for shipments within Canada, within Mexico, and between the contiguous U.S. and Mexico. Details of all changes to rates, surcharges and fees are available on the FedEx website at: http://fedex.com/rates2021.

Disruptions caused by attacks on cargo ships in the Red Sea have once again created volatility in retail supply chains, leading to delays and increased costs. That's according to the Global Port Tracker report by the National Retail Federation and Hackett Associates. Jonathan Gold, NRF VP for supply chain and customs policy, noted that retailers are working with their carrier partners on mitigation strategies to limit the impact of the disruptions caused by the attacks, "but we are seeing longer transit times and increased costs as a result.” To help retailers navigate supply chain challenges, NRF 2024: Retail’s Big Show will feature a special one-day program — Supply Chain 360 Summit — on Sunday, Jan. 14, 10:00 a.m. - 3:45 p.m. (ET), at the Javits Convention Center, New York City.