Apple raises Israel app prices as US dollar appreciates

"When foreign exchange rates change, we sometimes need to update prices on the App Store," Apple wrote in a statement.

January 23, 2016 16:25
1 minute read.

The Apple logo is pictured at its flagship retail store . (photo credit: REUTERS)

Apple has raised prices for apps in seven of its international App Stores, including for Israel, where the base price rose from NIS 3.50 to NIS 3.90.

The reason behind updating prices in Israel, Canada, Mexico, New Zealand, Russia, Singapore and South Africa, Apple wrote in an email to app developers, was movement in the foreign exchange market.

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“When foreign exchange rates change, we sometimes need to update prices on the App Store,” the company wrote.

In recent months, the dollar has been appreciating, meaning that the US-based Apple may have been losing out on revenue for purchases made in weaker currencies. The Israeli case, however, appears to be somewhat of a delayed reaction.

The shekel has been strong against a basket of foreign currencies in the past year, while its rate against the dollar fluctuated from around 3.75 to 4.00 throughout the year. That level was a jump from the 3.4- 3.5 level common in the first half of 2014. Pegging the lowest tiers of purchases to $1, Apple’s change seems to be about a year overdue.

Though consumers will not like having to shell out extra agorot for apps, the price increase will be welcome news for developers, who will benefit from the app price increase.

Because Israel’s App Store does not have auto-renewable in-app purchases, its customers will not have to reauthorize such payments as customers in Russia and South Africa will.

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