In the spirit of openness that we try to show here at fxphd, I wanted to take a moment to talk about our price increase for the July11 term. The bottom line is that it’s due to worldwide currency fluctuations. OK…bottom line is that the dollar has tanked against foreign currencies in the last several years. So we’ve had to make a slight adjustment, raising the price to $359 per term.

In order to help ease the transition to our new price, the good news is that for members of the April term who renew for July — you’ll still be paying the $330 price for the July term. The discount will automatically be taken when you sign up.

Why did we need to do this? Much like other businesses like The Foundry, the declining dollar has had a big impact on our expenses. When we started fxphd, the $330 membership actually translated to about $450 in Australian dollars. Today, that same $330 brings in $308 Australian dollars. With two of our three offices located in Australia, this has had a dramatic impact on our costs. Many of our profs are overseas, so that has an impact as well.

This has been an issue for us for a while, but we’ve held off increasing prices as we didn’t think it was appropriate due to the global financial crisis and so many artists being out of work. But the time seems right now and it’s something we need to do.

We hope you understand our need to do this. Our goal is to keep fxphd very affordable and this adjustment will help us maintain the quality you’ve come to expect from us.