The 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 protected 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.
Market News September 23 2016
Exchange rate predicted range $1.1236-1.1269= €1.00
A broadly flat U.S. currency Friday was on track for a weekly loss. America’s buck lost traction this week after the Federal Reserve left interest rates unchanged, and forecast a shallower slope of rate hikes in the years ahead. The yen, on the other hand, emerged victorious in the wake of the Bank of Japan and Fed announcements, as the Asian central bank largely left its policies unchanged which haven’t proven burdensome on the Japanese currency. Though little changed Friday, the dollar jumped nearly a percent against the U.K. pound as Brexit uncertainty returned to the fore. The euro was on course for a weekly win, one that was wasn’t assured after tepid growth data Friday across the region. Market gaze today will be on Canada whose economy releases big data on inflation and consumer spending. The loonie was steady ahead of the 8:30 a.m. ET dose of data.
In 2000 and in 2001 Doorways gave refunds 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 recent years, there has been no adjustment up or down. Customers renting properties for 2015 may be charged a currency adjustment on the unpaid balance, according to the exchange rate, but it more likely to be in their favor this year. Here's hoping that the dollar continues to strengthen in time for your trip!
Kit Burns, President
Doorways Villa Vacations
For more information on booking, planning and financial agreements, please visit our booking forms page.