Rubles and iPhones

Via the BBC:  Rouble turmoil leads to Apple halting online sales in Russia

Technology giant Apple says it cannot sell products online in Russia because the rouble’s value is too volatile for it to set prices.

The company stopped sales of its iPhones, iPads and other products in the country after a day in which the currency went into free-fall.

The rouble has lost more than 20% this week, despite a dramatic decision to raise interest rates from 10.5% to 17%.

[…]

Apple last month increased its prices in Russia by 20% after the weakening rouble left products in the country cheaper than in the rest of Europe.

FILED UNDER: Europe, Politics 101, Quick Takes, World Politics
Steven L. Taylor
About Steven L. Taylor
Steven L. Taylor is a Professor of Political Science and a College of Arts and Sciences Dean. His main areas of expertise include parties, elections, and the institutional design of democracies. His most recent book is the co-authored A Different Democracy: American Government in a 31-Country Perspective. He earned his Ph.D. from the University of Texas and his BA from the University of California, Irvine. He has been blogging since 2003 (originally at the now defunct Poliblog). Follow Steven on Twitter

Comments

  1. OzarkHillbilly says:

    I wonder if Wall Street will reflect this in the price of Apple shares?

  2. C. Clavin says:

    It becomes clearer why Republicans love Putin…he’s been far more effective at hurting Russia’s economy than Republicans have been at hurting ours.
    PUTIN/CRUZ ’16