The Apple Store returns to Russia with inflated prices

We did bring you word last week on how the constantly weakening Russian ruble has resulted in constant adjustments in the Apple Store in that part of the world – which led to a shut down of its services. It looks like things have stabilized somewhat, with Apple finally opening up its Apple Store in Russia again, although they have made some rather sharp upward adjustments to the pricing of its wares. 

After suspending online sales in Russia last week due to an extremely volatile ruble, Apple on Monday reinstated the Online Apple Store with price increases of up to 35 percent for certain products like the iPhone. It took Apple nearly one week to bring its digital storefront back online as the company waited for the ruble to stabilize from its dive against the U.S. dollar. Russian buyers saw inflated pricing when the Online Apple Store resumed operations earlier today, with a 16GB iPhone 6 going for 53,990 rubles (about $956), up 35 percent from 39,990 rubles last week, Reuters reports. This marks the second time in less than one month that Apple changed product prices due to ruble fluctuations. Last week, Russia’s central bank raised interest rates by 6.5 points overnight, causing a massive 19 percent decline the next day. The ruble’s value deterioration over 2014 has seen the dollar prices soar more than 70 percent. In January, one dollar equaled 32.9 rubles, but the current exchange rate has a dollar worth about 54 rubles.


Categorized as Apple

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