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 October 21 2016
Exchange rate predicted range $1.0919-1.0975= €1.00
The U.S. dollar rode a late week rally to fresh highs against most of its main rivals. A few words this week from global central bankers were enough for many to pile back into the greenback. A top Federal Reserve official indicated a likelihood of the central bank raising interest rates by year-end. Across the Atlantic, meanwhile, Mario Draghi, the head of the ECB, renewed a resolve to do all that it takes to get the bloc’s economy on a stronger trajectory, including the use of stronger stimulus if necessary. The dollar soared broadly Friday, climbing to February and March highs against a currency basket and the euro, and was on track for its third gain in as many weeks. Canadian data today on inflation and retail spending will be in focus. Next week brings key U.S. data on consumer confidence and third quarter growth.
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.