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Valve has added 11 new currencies to the Steam Store

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Recent changes to the Steam Store have seen the addition of more local currencies for customers in different regions. Expect to get more bang for your Peso or Dinar.

Originally tweeted by the excellent SteamDB, it would seem that customers in different regions will be able to buy from the Steam Store using their local currency. This usually means lower prices and no fiddling about with conversion rates for currency and prices are also adjusted for regional standards. The changes went live earlier and users in the affected countries have gotten emails telling them about the new changes to the Steam Store.

Below are the new currencies and region:

New additions
  • Argentinian Peso
  • Costa Rican Colón
  • Israeli New Shekel
  • Kazakhstani Tenge
  • Kuwaiti Dinar
  • Polish Zloty
  • Qatari Rial
  • Ukrainian Hryvnia
  • Uruguayan Peso
  • Vietnamese Dong
  • South Asian USD Region

 

As someone who has moved around a lot and has lived in all sorts of countries, local currency and regional pricing makes sense to me. The purchasing power around the world varies wildly and brick and mortar stores sometimes have prices that reflect the reality on the ground closer than digital retailers. This kind of thing is a good way to make sure your digital store will remain competitive if you allow your customers to pay what they're used to and not have to waste precious money on conversion fees to USD or EUR. It'd also be nice if Valve added local payment methods while they're at it. They've done so in the past in other regions but as I'm not in one of the above affected countries, I can't confirm either way.

Do also note that while the changes should be live, there may be teething problems with not all prices yet updated to the corresponding equivalent in the local currency. Except that to be sorted out as time goes by.

 

With thanks to the original submission from Faalagorn!

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hardpenguin 14 November 2017 at 11:35 am UTC
Some games are not available for purchase at all in new currency regions due to the change. I hope this will be fixed soon!
Faalagorn 14 November 2017 at 1:22 pm UTC
hardpenguinSome games are not available for purchase at all in new currency regions due to the change. I hope this will be fixed soon!

Yes. The problem is that the developers have to set the prices themselves. While it will hopefully get ironed out, it will prove troublesome for games that no longer get active care from developer/publisher.
torrit 14 November 2017 at 3:09 pm UTC
This is wonderful news.

The fact that publishers/developers set new prices themselves is particularly interesting. I have taken a look at two Linux games that cost exactly the same in euros (FM 2018 and F1 2017) and in my local currency the difference in price between these two titles is quite substantial (around 9% = over 5 euros). Football Manager is even more expensive than in euros but I imagine FM is probably one of those games with inelastic demand.

Still, I've been waiting for this moment for a long time so I'm glad it finally happened. I can't wait for winter sale now !
Hori 14 November 2017 at 3:55 pm UTC
Still no Romanian Leu despite the high number of Steam users using that currency compared to many of the other already-supported ones... (And no, the fact that we're in the EU is not enough of a reason to not do it)


Last edited by Hori at 14 November 2017 at 3:56 pm UTC
Leopard 14 November 2017 at 4:56 pm UTC
Pricing on Steam is related to two factors.

First : Local sellers.

In my country ( Turkey ) a bitch ass company called named Aral is have the rights publishing some companies games. Most notable one is Bethesda , others are EA and Ubisoft.

This company sells boxed games and because of them Steam is setting these games prices to equal their pricing.

Some times it become visible too obviously. A game is came to Steam ( Prey 2017 ) with pre order at 78 TL and few hours later (because of that Aral ) it bumped up to 180 TL.

Valve has a good policy about not killing local sellers but they're abusing it.

Second : Your currency value against US dollar.

If a game is not contracted to a local seller and dev or publisher didn't do re pricing for that region , Steam converts price to your regions price with a fixed ratio.

That ratio is usually much more lower than actual currency ratio.
Comandante Ñoñardo 14 November 2017 at 4:59 pm UTC
They removed Paypal in Argentina, by the way...
but that is not a problem because they added local payments systems like Rapipago and pagofacil, so people without credit or debit cards now can buy games and Steam wallet credit just using cash.

This is an excellent method for to fight against the bad called piracy, because now, a game on sale will be more cheapest than the illegal copy available on the street.
Segata Sanshiro 14 November 2017 at 8:43 pm UTC
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I did notice when looking at Steam through the browser, games are now considerably cheaper. They were always displayed in Argentine Pesos, but it seems it's no longer a direct conversion, but they have country-specific pricing. I pay with everything in GBP and my Steam account is displayed in that currency though, so it's of little significance to me, but it's cool that people in Argentina will be able to buy games for less.

Comandante ÑoñardoThey removed Paypal in Argentina, by the way...
but that is not a problem because they added local payments systems like Rapipago and pagofacil, so people without credit or debit cards now can buy games and Steam wallet credit just using cash.

It would really be easier if everyone in Argentina just got a bank account and debit card like in every other country on earth instead of always making everything needlessly complicated, just saying. I can't see why anyone would want to physically go to Rapipago every time they want to pay their electricity bill or buy a game on Steam, it's absolutely insane and time consuming. The only explanations I've ever gotten for not having a bank account has been "blah blah, 2001, blah blah, they're all crooks, blah blah" - as if it's the only country on earth which has had recessions and this therefore justifies the hysteria and necessitates having all your money in cash under your bed.
skinnyraf 15 November 2017 at 5:42 am UTC
Not only I can no longer buy like half of games on my wishlist, as they have no prices in Polish zloty, but also some bundles disappeared, even though games in these bundles are available and bundles are published by the same publisher.

To add insult to injury, quite a few games are now more expensive than before. Perhaps publishers didn't realise that Polish zloty purchasing power is lower than Euros, not higher...
knro 15 November 2017 at 8:13 am UTC
I got an email from Steam last week saying that I will be paying with Kuwaiti Dinar soon. Does that mean no fees for currency exchange to dollars?
Eike 15 November 2017 at 8:22 am UTC
knroI got an email from Steam last week saying that I will be paying with Kuwaiti Dinar soon. Does that mean no fees for currency exchange to dollars?

Yes. ...but as it seems, the new prices might not always be better than the exchange price. :-/
(I wonder if average wages in Kuwait are above or below in say the US, though?)
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