shifts in exchange rates affect you as a Doorways customer because you are traveling
to Europe. It also can hit Doorways hard 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.
$1.6869 = £1.0
US MARKET - 04/16/2014 08:12 AM
The greenback climbed above ¥102 against its Japanese rival to one-week highs as investors turned to risk after Chinese growth last quarter cooled less than expected and Japan’s finance chief hinted that the nation’s powerhouse pension funds might be a big buyer of the nation’s stocks. The resulting shift to assets with better yield potential and away from safer bets pulled the dollar a little lower overall. China’s economy grew 7.4% in January-March, the slowest in 18 months, which was a little better than forecasts of a decline to 7.3% from 7.7% in the fourth quarter. China also reported a pickup in retail sales and industrial output which helped temper slowdown fears. The Aussie dollar steadied on China’s reassuring economic news after a fall earlier to $0.9330, its lowest in a week. Sterling shined after Britain’s jobless rate unexpectedly fell below 7% in the three months to February and wage growth matched the same month’s rate of inflation for the first time in years. The data pointed to a broadening recovery in Britain and brought the specter of a U.K. rate hike a little closer. The loonie was steady with its fate today and for the foreseeable future seen in the hands of the Bank of Canada. Driving the U.S. buck today will be lunchtime remarks from Fed chair Janet Yellen and data on American homes and factories.
For customers traveling in 2014: "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: 1.1-1.55 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. For the past couple of years, there has been no adjustment either way. Customers renting properties for 2014 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.
to view the 2014 Financial Agreement