Apple hikes App Store prices in Canada, Russia, New Zealand & several other countries

Reacting to fluctating currencies, Apple on Monday told developers that it will be hiking App Store prices in several countries within the next three days.

Affected regions will include Canada, Israel, Mexico, New Zealand, Russia, Singapore, and South Africa, the company said in an iTunes Connect notice seen by The Next Web. Although most countries should see their prices rise by a small margin, Canadian prices are due to go up significantly.

The country's minimum app price will climb from $1.19 CAD to $1.39 CAD, for example, while apps costing $50 will leap to $69.99.

The Canadian dollar is at a historic low of just 69 cents per U.S. dollar. As recently as 2013, Canada was doing better than the U.S., but its economy has been hurt by low oil prices which stand to be exacerbated by Iran's return to the global oil market.

Apple periodically adjusts international prices for apps, hardware, and digital media. The company walks a fine line however between keeping up profits and discouraging shoppers, meaning that it will sometimes hold out on making changes if it can.