Why is my money being converted to Mexican Pesos? effectively devaluing it?

[Doot snoot]

I got an email just now saying "If your Steam wallet has any money in it on October 21st, 2014 (Pacific Time), your U.S. Dollar balance will be converted to the Mexican Peso, at a conversion rate dictated by market value at the time of conversion."

The problem is... that you're forcing me to convert my money to something less valuable, if I have money in paypal and the dollar is very low, I don't transfer my money, I wait till the dollar is expensive to convert it to pesos and it adds up to A LOT of money.

So the question is, why is steam forcing the devaluing of the dollars in my steam wallet? Why not give me the choice to keep it in dollars.

[Satoru]

Sharktits님이 먼저 게시:

Satoru님이 먼저 게시:

Well I'm asking since I'm not really sure. If you walk into a "BestBuy" or whatever the big box retailers are in Mexico and buy say "Borderlands the Pre Sequel" What is the expected price? How does that compare to the USD conversion?

I guess I was mistaken about your price decrease since I had assumed game prices would be similar to Brazil

Those games are usually about 20-30% more expensive than I've seen them in the US. at least the ps3, ps4 and xbox games. Pc games I'm not sure but it's so rare to see a physical pc game here nowadays.
From what heard Brazil fares worse I thought things were way more expensive over there because of import taxes.

If PC games aren't sold in Mexico that might be your only saving grace. For example even with teh "Australian Tax" they only do that to match pricing to retail. If there is no retail market for PC agmes then tehre's ntohing to 'match' it to. In that case, like in Australia, you'd be paying closer to USD pricing. Thus even the "Australia Tax" on steam only applies to games sold in retail. If its not sold in retail then there's no need to increase the price 'in theory'

Without a baseline for retail PC pricing its hard to tell how you'll be impacted. However given what you've said

1) AAA prices are likely to rise to retail pricing levels, which for you is an increase
2) non retail games should 'probably' be close to USD pricing, or even lower to be honest.

[YooOwnIt]

TirithRR님이 먼저 게시:

ThePWNS님이 먼저 게시:

Doesn't your currency change depending on which territory you're in? Heard complaints from people having their funds converted to Canadian, when they are in Canada

For a long time Steam dealt in USD only. As it's grown and expanded, it's changed so that local regions use their local currencies. I'm sure there are pressures from outside Steam to make these changes.

People are so used to using USD that being forced to use their own local currencies seems wrong to them.

The global market really forces Valve to charge currency converting. USD is the base price. Not all places have a charge in currency converts, such as Canada, buying money using that currency is even lower than the US currency.

[Doot snoot]

fauxtronic님이 먼저 게시:

Sharktits님이 먼저 게시:

at least the ps3, ps4 and xbox games.

Console games are ALWAYS more expensive than the PC versions. It's been like that since forever.

you're not following. he asked about those types of games -.-

ThePWNS님이 먼저 게시:

Doesn't your currency change depending on which territory you're in? Heard complaints from people having their funds converted to Canadian, when they are in Canada

that's the whole issue. it's something new, lots of places are getting local currency and I just don't see any benefit to it, only loss to me at least since Ive said I earn in dollars not pesos.
this is just a pain in the ass. I always think in dollars, spend in dollars and calculate in dollars.

conversions are a big deal and I find it a bit obscure how steam plans to compensate for it or just doesn't give a damn.

[DoktorMostro]

Games are a LOT more expensive in Mexico almost double, thats why i only use Steam now. But this is a kick to my wallet, Origin made the same move some months ago and this was my experience:

I bought Titanfall presale at $49.99 some weeks later Origin put his pesos price at $56.45 (converted) saying was the same price.. What a joke! $6.46 more expensive.

Now i think the same will happen with Steam and im fu##ing mad, i dont want to be bound to pay more i want to use the currency i want!

Even Paypal let you choose to use his currency exchange or your bank exchange.

[Doot snoot]

DoktorMostro님이 먼저 게시:

Games are a LOT more expensive in Mexico almost double, thats why i only use Steam now. But this is a kick to my wallet, Origin made the same move some months ago and this was my experience:

I bought Titanfall presale at $49.99 some weeks later Origin put his pesos price at $56.45 (converted) saying was the same price.. What a joke! $6.46 more expensive.

Now i think the same will happen with Steam and im fu##ing mad, i dont want to be bound to pay more i want to use the currency i want!

Even Paypal let you choose to use his currency exchange or your bank exchange.

See this is exactly what I mean. I'm not sure if anyone's brought up this issue when the currency conversion happened in their country but if not I don't understand why not.
this is honestly not a good thing, and not even necessary.

[篮子碎大石]

[kanske]

i dunno,

[Doot snoot]

Tomtucker님이 먼저 게시:

Sharktits님이 먼저 게시:

I got an email just now saying "If your Steam wallet has any money in it on October 21st, 2014 (Pacific Time), your U.S. Dollar balance will be converted to the Mexican Peso, at a conversion rate dictated by market value at the time of conversion."

The problem is... that you're forcing me to convert my money to something less valuable, if I have money in paypal and the dollar is very low, I don't transfer my money, I wait till the dollar is expensive to convert it to pesos and it adds up to A LOT of money.

So the question is, why is steam forcing the devaluing of the dollars in my steam wallet? Why not give me the choice to keep it in dollars.

well seeing at how 1=dollar has equaled 13 pesos for the last year (i checked). I doubt you were actually making any money or saving money.

if fluctuates a lot. from 12-14 pesos a dollar and believe me those 2 pesos add up in large amounts of money. 50 dollars at 12 pesos = 600 pesos and at 14 = 700. 100 pesos difference is a lot, that's a whole cheap game or a meal. about 8 dollars.
now imagine the difference in 100 dollars... 200, beyond.

[TirithRR]

Sharktits님이 먼저 게시:

Tomtucker님이 먼저 게시:

well seeing at how 1=dollar has equaled 13 pesos for the last year (i checked). I doubt you were actually making any money or saving money.

if fluctuates a lot. from 12-14 pesos a dollar and believe me those 2 pesos add up in large amounts of money. 50 dollars at 12 pesos = 600 pesos and at 14 = 700. 100 pesos difference is a lot, that's a whole cheap game or a meal. about 8 dollars.
now imagine the difference in 100 dollars... 200, beyond.

Except once the price is set to 600 Pesos (hypothetical price) it will stay at 600 pesos regardless of what the exchange rates flucuate at. Steam store prices do not change based current exchange rates.

You'll be paying the same, in Pesos, regardless. Moving to local currencies stabilizes prices for local users. So when the value of the Pesos shifts constantly relative to the USD, you won't have to worry about paying 600 Pesos one month and 700 Pesos the next.

[Satoru]

Using regional bypassing is a violation of the SSA and will result in your account being susspended.

[Doot snoot]

but again, I think youre all looking past the major point. people with large ammounts of money in their wallet could get screwed when the convertion happens.

[Doot snoot]

Satoru님이 먼저 게시:

Using regional bypassing is a violation of the SSA and will result in your account being susspended.

sure.

[Kurjakk]

Sharktits님이 먼저 게시:

but again, I think youre all looking past the major point. people with large ammounts of money in their wallet could get screwed when the convertion happens.

ergo, dont keep lotsa funds in ur wallet. thats a good way to learn a lesson.

[Doot snoot]

Kurjakk님이 먼저 게시:

Sharktits님이 먼저 게시:

but again, I think youre all looking past the major point. people with large ammounts of money in their wallet could get screwed when the convertion happens.

ergo, dont keep lotsa funds in ur wallet. thats a good way to learn a lesson.

So dont use a feature that is meant to be used. got it. Steam should put a banner then because that's such a smart solution.

[Cele]

so it finally happened, but i am amazed to see some prices actually are WAY cheaper than they should be it's like they are converting the dollar to like 8.5 pesos per dollar instead of the 13.5 average bank rates give you, the evil within for example costs 509.99 pesos right now