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.
$1.6677 = £1.0
US MARKET - 04/07/2014 08:02 AM
The U.S. dollar was off to a subdued start on Monday after major events last week didn’t prove to be market game changers. The American currency had rallied to a series of multiweek highs last week after the European Central Bank bolstered its dovish rhetoric and data revealed another solid, but not spectacular, pace of U.S. job creation last month. Consequently, investors remain on the lookout for easier policy steps from the ECB and strong enough U.S. job growth to make the case for a Federal Reserve interest rate hike next year. But until new catalysts arrive, look for more general range trading for the dollar and major currencies. Currencies this week should take their cues from central banks with the minutes from the Fed’s March meeting due on Wednesday. The yen steadied above 10-week lows as investors sought a haven from renewed global stock market weakness. Investors were also cautious ahead of Tuesday’s conclusion of a two-day meeting of the Bank of Japan. Sterling was steady ahead of a Bank of England policy decision on Thursday. Canada’s dollar eased off four-week highs while risk aversion helped slow the Aussie dollar’s advance to four-month peaks.
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