iTunes Connect

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 though, this price revision comes at a time when the rupee seems to be slowly recovering. It declined below the Rs 60 mark for the first time in eight months last week and is currently at Rs 60.1 mark. Remember that the rupee had gone up to as high as Rs 68.80 in August last year.

Apple had introduced Rupee pricing to the App Store in October 2012, following which it started displaying app prices in Indian Rupees. This also meant users would no longer have to pay a foreign currency mark-up fee which varies, depending on the Bank which has issued the credit card.

While the company doesn’t provide any country-wise breakup of its iTunes revenues, the division had reported $2.4 billion revenue for the quarter ended December 28, 2013 (Q1 2014). Apple had also mentioned that it had paid out $2 billion to developers during the quarter.