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 December 6, 2016
Exchange rate predicted range $1.0769-1.0829= €1.00
America’s dollar steadied Tuesday after logging one of its best and worst days against the euro in months. The dollar initially soared to 21-month highs against the euro after Italy rejected a referendum on constitutional change which led the nation’s prime minister to submit his resignation. For a change, though, market polls called the political event correctly which helped to facilitate the euro’s quick rebound to three-week highs. Moreover, it appears that Matteo Renzi, Italy’s premier, won’t leave until Italy passes a budget, which helped tamp down on political instability. EURUSD’s ability to keep above long-term support offered a sentiment boost to the single currency.
The dollar, meanwhile, has lost some luster with markets confident in how the year will play out with the Federal Reserve expected to raise interest rates next week. But uncertainty over the Fed’s plans for next year has left the dollar prone to bouts of muscle atrophy. The loonie weakened from October highs ahead of important Canadian trade figures this morning.
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 2017 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.