How do other currencies work, exactly?

[LazyTomato]

i recently got an email from steam telling me that they're gonna be implementing the argentine peso (AR$) as a currency not too long from now
so that's cool and all, but this is a currency that's been losing value for decades, and i'm kinda worried.

so, let's say i have 10 dollars on my steam wallet, that'd be AR$180. Is that amount still stored in dollars, just showing the equivalent value in my currency, or is it actually converted into my currency? (which would mean any steam wallet money i have is going to be worth less really, really quickly after steam forces this currency into my account)

[999999999]

It will be converted to the current currency price the day of the transition to the Argentine Peso.

[LazyTomato]

Originally posted by 999999999:

It will be converted to the current currency price the day of the transition.

okay so, if those 180 pesos make up 10 dollars, but a year from now they're only worth 5 dollars, would that translate into my steam wallet too?
meaning i essentially lost money due to steam thinking it was a good idea to implement this currency?

[LardmanAttack]

I actually really dont' know, In Canada, our currency value is lower than the U.S. and yet I checked on both version and they were labelled the exact same price. So that's how i'm hoping it works

[999999999]

Yes. That is how currency values work. Some go up and others down.

Originally posted by LardmanAttack:

I actually really dont' know, In Canada, our currency value is lower than the U.S. and yet I checked on both version and they were labelled the exact same price. So that's how i'm hoping it works

On what exaclty? A price of a game? That is the publisher setting the same price for both currencies.

[Undigon]

It's not about prices being x in dollars, y in pounds and so on. It's about game prices being in dollars and steam wallets in a devaluating, inflationary currency.
If a game is charged a fixed price for each currency then fine. If game prices are converted on the fly from a price in dollars then over time you will have less and less buying power. According to the last case, you should keep your wallet loaded the least amount of time posible or face a loss.

[999999999]

Each Steam store has all the games set at the price the developers/publishers want them to be. They don't rise and fall with the currency. They are at the same price unless on sale.

Originally posted by Undigon:

...If a game is charged a fixed price for each currency then fine...

That^^ is what it is.

[LazyTomato]

Originally posted by 999999999:

Each Steam store has all the games set at the price the developers/publishers want them to be. They don't rise and fall with the currency. They are at the same price unless on sale.

Originally posted by Undigon:

...If a game is charged a fixed price for each currency then fine...

That^^ is what it is.

...yeah okay, that's cool and all
now what about community items and trading in general? those prices are set in dollars, so i'm basically ♥♥♥♥♥♥ in that regard

and well, as new games come out, devs will price them at the current equivalent price in AR$ (if they even bother doing that), which, if inflation keeps going, will be considerably higher than previously released games with an unchanged price

plus i'm pretty sure that steam just automatically gets a game's current equivalent price in my currency if the devs didn't set it themselves

EDIT: there's also the issue of devs purposefully overpricing their games in some currencies, like DOOM and fallout 4 did

[999999999]

Market items will also convert over.

That is up to the devs to do so, yes. Some do and others don't.

The dev/pub still has to sign off on everything. If they choose to use the suggested price by Valve, that is their coice. But they must ok that decision.

Bethesda is another story altogether. Another topic really.

[Marianojoey]

Seriously, this decision sucks. :(

I don't care much about the games themselves, since I only use my wallet to trade cards, but the fact that I'll have to pay the games in AR$ now is a total downer. It's Valve's loss, I'll have to resort to HB or fall fully on GoG.

[999999999]

Now that IGN owns HB, expect them to to update the currencies there too later on.

GOG is not really the same thing as most games are not available on that.

[AlphabetMafia]

Originally posted by LazyTomato:

Originally posted by 999999999:

It will be converted to the current currency price the day of the transition.

okay so, if those 180 pesos make up 10 dollars, but a year from now they're only worth 5 dollars, would that translate into my steam wallet too?
meaning i essentially lost money due to steam thinking it was a good idea to implement this currency?

[Relda]

Remember that different currencies have different price convertions, for example, If you buy in Mexico, you will find prices 40% cheaper, and I think Russia or somewhere is Asia has 70%!

It depends on how valve scale prices

Another well known example is the euro, when it was waay more expensive than USD, and, yet, everything had the same price..,(it still has more value, but the difference isn’t that big nowadays...)

[Tomasz79]

Have you heard about when those new currencies will be introduced? I know Argentina is suppose to have it's own on Nov 13, but users have being given an email - I did not recive one, I'm in Poland/interested in polish zloty.

[Orez <3]

Currency Change

Steam recently notified us ( israel ) of a upcoming currency change, people in the community are concerned that steam will become like the Microsoft xbox store, or playstation store, where games are way more expensive to buy in israel then then us for example, ( 2 times, 3 times the price )
Is this the case here or it's just visual?

[Black Blade]

It may be and it may not, all depends on what the developers set the price to be
You will have to wait and see what will happen with it as happen with all countries