The effects of the declining rupee: Apple has sent out an email on Monday notifying app developers of the increase in App Store prices for certain currencies including the Indian rupee in the next 24 hours, reports iMore. The company says the prices will be increased for Australian Dollar, Indonesian Rupiah, Turkish Lira, and South African Rand besides the Indian rupee to account for changes in foreign exchange rates. On the flip side however, the prices for Israeli New Shekels and some price tiers for the New Zealand dollar will be decreased. Apple mentions that developers will be able to see the new pricing matrix in the Rights & Pricing section of Manage your apps module on iTunes Connect. $0.99 app on App Store now costs Rs 60 We checked out a few apps and noticed that Apple is now charging Rs 60 for apps which are priced at $0.99 on the US App Store. Earlier, Apple charged Rs 55 for these apps on the Indian app store. However, we also noticed some instances where Apple is charging higher currency rates of Rs 62 to Rs 63 for apps. For instance, Infinity Blade is available at Rs 370 on the Indian app store whereas it is priced at $5.99 on the US app store, translating to a conversion rate of around Rs 61.7. Similarly, FileApp Pro is priced at Rs 190 on the Indian app store while it is priced at $2.99 on the US app store, translating to a conversion rate of Rs 63.3. Interestingly…
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This should facilitate quicker settlement of funds for merchants and also boost user confidence in digital payments, RBI Governor said.
While Chandrasekhar said the advisory doesn't include startups, the advisory itself does not make any such classification based on platform sizes.
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