Results: Falling loonie means rising Apple app prices

Apple is raising prices in its Canadian app store this week in response to the drop in value of the loonie. The tech giant sent notices to developers in Canada and New Zealand on Monday telling them that pricing in those countries is going up due to currency fluctuations. The minimum app price in Canada will rise 17 per cent from $1.19 to $1.39, while apps priced at $50 will rise to $69.99, according to the website The Next Web, which obtained a copy of the email. The website said the changes will also affect regions including Israel, Mexico, Russia, Singapore and South Africa, which will see prices rise by a smaller margin. The Canadian dollar has lost value in recent weeks and now hovers around 69 cents U.S. The price hikes could be tied to increased costs for maintenance of the app store and creation of the software.