shifts in exchange rates affect you because you are traveling
to Europe and the shifts also affect Doorways because we collect payment from you in
dollars and in most cases pay owners in Euro. To protect our company from losses
due to fluctuating currency, we set a range when establishing our prices for the
year. If the dollar strengthens outside this range, we give money back to you,
and if the dollar weakens, we have to collect additional funds. In most cases, though, the dollar stays within the safe range and then your price does not change.
$1.2748 = €1.0
$1.6198 = £1.0
US MARKET - 10/09/2014 07:57 AM
American dollar descended to its lowest in two and three weeks against the euro and yen, still suffering in the wake of dovish minutes from the last Federal Reserve meeting. The Fed singled out the dollar's strength as a new threat to growth since it can make U.S. exports more expensive, and push down import inflation. The takeaway from the Fed minutes was that the higher the dollar flies, the longer it may take the central bank to boost interest rates from record lows. The Fed's cautionary swipe at the dollar puts its record winning streak of 12 weeks in jeopardy. Still, the dollar's longer term prospects remain positive since U.S. fundamentals continue to outshine much malaise overseas. The outlook for Europe, meanwhile, grew a bit darker as Germany reported a big 5.8% fall in exports in August which narrowed the nation's trade surplus to 17.5 billion from 22.2 billion. Mounting signs of weakness in Europe's biggest economy have seen hopes evaporate for an expected rebound in growth during the third quarter. With the Fed seemingly no closer to raising rates, risky assets shined, lifting the loonie and Aussie dollar to one- and two-week highs. Next up for the buck will be the latest reading on weekly jobless claims.
For customers traveling in 2015: "Prices
are subject to shifts in currency exchange rates and will be adjusted up or down
at the time of payment only if the rate falls outside of the ranges: 1.0-1.4 dollar/Euro
or 1.4-2.0 dollar/£. When adjustments are necessary, we will use the currency
we use to pay the owner and calculate it from the exchange rate received on the
2000 and in 2001 Doorways gave a refund to guests after they paid their
final bill. Everyone was very happy then! For the beginning of 2008, we had to collect extra money but for the past couple of years, there has been no adjustment either way. Customers renting properties for 2015 for which the owners are paid in Euros may be charged a currency adjustment
on the unpaid balance, according to the value of the dollar versus the Euro at
the time of the final bill; the adjustment could be up or down. Should you want to protect yourself against decline of the dollar,
you can pay your final bill early or be sure to book a villa with a guaranteed
US dollar rate.We are
infinitely grateful for your cooperation. And here's hoping that the dollar strengthens in time for your trip!
Doorways Villa Vacations
to view the 2015 Financial Agreement