Rate of exchange end of month
Hello Fellow logding owners/managers
I have a real concern. My establishment is in Mexico. The peso our currency has been totally unstable of late. I have lots of issues with Booking. com using the exchange rate on the LAST day of the month as the billing rate of exchange for their commissions. I LOOSE money IE mid month rate is 19.6 I charge client at this rate but end of month rate is now 20.25 so I loose.. Any one else feel that the booking rate of exchange ( using the bloomberg rate as I have been told they do) should be established on the first day of the month and that rate used each day of the month and the invoice amount used by the rate of exchange of the first of the month? Thanks for your input. Hope the booking. com folks do follow this. It is very unfair to establishments the current system
Under that circumstance I would change, if that's possible?, to a more stable currency on your rates/site/listing although they are all a bit wobbly at the moment.
Failing that and if you can arrange to take off-line credit cards, change your payment policy to pay with booking only, non-refundable.
Thanks for responding Fluff. My published rates are in US dollars, but many budget travelers are not from the US, and do not have access to dollars ( the more stable currency compared to the peso) and therefore I must accept pesos at the bloomberg.com rate per day that booking. com uses. I am hoping either Booking establishes the rate of exchange at the BEGINNING OF the month not the end of the month after guests have left OR they allow me to pay via Credit Card their commissions and not in pesos at the local bank which I will now ask my booking co ordinator. Thanks for your input! Greatly appreciate that you took the time.. Have a good one.