Dear Guest,

The 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.

According to Ruesch, International today:

$1.4117 = €1.0

$1.6596 = £1.0

US MARKET - 06/29/2009 08:14 AM

 

The U.S. dollar starts the week on mixed footing in generally familiar ranges as investors look ahead to a busy economic calendar that will provide the data that sets the tone for markets into the weeks ahead. The greenback pared some of its overnight gains as European bourses clawed their way into positive territory and U.S. stock futures pointed to a modestly higher open on Wall Street. Ahead of the quarter-end tomorrow, the greenback could post some gains against currencies like the AUD, the NZD and the GBP, who have seen near 10% gains in the second quarter of 2009. However, investors are unlikely to amass significant positions ahead of key data later in the week. Manufacturing and services sector data from the U.S. the euro zone and the U.K., central bank meetings in the euro zone and Sweden and the all important U.S. jobs data will all be closely watched this week and could help clarify the global economic outlook for investors. Another upside surprise to Thursday’s U.S. employment report could signal that the worst of America’s steep job losses has passed and underscored the notion that the U.S. will eventually lead the rest of the world out of recession. The euro was boosted by data showing a steeper than expected jump in economic sentiment in the 16-member bloc in June. The data, was consistent with other upside surprises to key euro zone gauges of both business and consumer morale. Softer than expected British mortgage lending and consumer credit data were largely offset by improved home price figures. No U.S. or Canadian data is due out this morning.

 

For people booking for 2009, at this writing there is no currency adjusment.

"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: 1.0-1.5 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 actual transfer."

In 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. Customers renting properties for 2009 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 continues to strengthen.

Kit Burns, President
Doorways, Ltd.

IMPORTANT LINKS:

Click to view the 2009 Financial Agreement