New currencies supported by Steam are Argentina Pesos, Costa Rican Column, New Israeli Shekel, Kazakhstani Tenge, Kuwaiti Dinar, Polish Zloty, Qatari Riyal, Ukrainian Hryvnia, Uruguayan Peso, Vietnamese Dong and South Asian Dollar.
Oyungezer states that the support of new currencies has changed the prices of some games significantly. Big publishers’ titles have become more accessible due to more affordable local prices but some countries are paying more than a title’s usual USD price.
Steam implements localized conversion systems so the people won’t be affected by changing currency rates. If a publisher doesn’t demand the opposite, the base price of the game is adjusted for purchasing power of a country.
Turkish gamers benefit from local prices
The conversion system applied for the Turkish Lira prevents domestic players from being affected by high exchange rates while buying games through Steam. If the publisher doesn’t oppose, the TRY price of the games is 1.5 times the base dollar price. So in general, a 60 USD game is 90 TRY, which is 23 USD, so this gives Turkish players a discount of 60 percent.
Among the newly supported currencies, a similar pricing model has been identified for Vietnamese Dong and Kazakhstani Tenge. According to Oyungezer, the discounts applied in these currencies are 60 percent as well.
Israeli players began spending more money on Steam. New Israeli Shekel prices for the games are 3 to 5 percent expensive than USD prices.
Big publishers use their own pricing strategies
While Steam’s conversion system is populated between independent developers and studios, major publishers maintain their own local pricing policies.
The study of Bethesda, 2K Games and Activision, where the games are expensive by local players, reveals that publishers can adopt very different policies according to countries. For example, it has been seen that Bethesda does not fall below the dollar’s price in any country outside Russia.
The company’s newest game, Wolfenstein II: The New Colossus, is sold at $59.99 while the price of Turkey is calculated at $69. The Polish Zloty is priced at $72, while in Ukraine is $58.
Another major publisher, 2K Games is applying a high price policy against Turkey. While Sid Meier’s Civilization VI, the company’s popular strategy game series, is $59.9, Ukraine and Kazakhstan enjoy a discount of around 65 percent for the game.
Also NBA 2K18 has a price of $52 in Turkey but Argentinian players are getting a 50 percent discount.
Activision does the 2nd biggest discount for Call of Duty: WWII for Turkey after Russia. In Kazakhstan where 2K Games is offering a 60 percent discount for some games, COD: WWII is interestingly priced at $12 more than its original price in USD.