Apple halts online sales in Russia due to wild ruble fluctuations

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Recent economic instability in Russia and subsequent fluctuations in its currency have caused Apple to cease online sales in the country.

Apple announced the halt on Tuesday after Russia's central bank raised interest rates, a major step in an attempt to stabilize its currency, the ruble

That move did little to pause the ruble's fall against the dollar.

Apple had attempted to offset the swings in the ruble by raising prices for Russian online shoppers. The company raised the price on the iPhone 6 by 25% recently, Bloomberg reports.



Currency movements can have a major impact on companies that earn money in a variety of different markets Read more...

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from MashableJason Abbruzzese