Apple recently introduced its new gift card into the market, with new features and more services for the consumers. The new Apple gift card can now be used both at the physical stores and even on the digital stores, this is one significant improvement that these new cards have over the old ones.
This new dynamics in the features of the new Apple gift cards have obviously impacted its exchange rate, as consumers who would like to shop both at the physical stores and the digital stores, would no more need to purchase separate cards, they only need one of the new cards, based on the value and the worth of the products they intend to get it with it, compared to the old one that would require consumers to purchase separate cards, one that can be accepted at the Apple retail stores and another that can be used on the digital store.
The improvements to the services covered by the new Apple gift cards have increased its customer base, which was projected, immediately the new cards were introduced into the market. The increase in the number of people buying the newly introduced Apple gift cards increases the number of trades and transactions made using the cards, which thereby spikes its exchange rate. The level of demand which has increased, has also impacted the increased exchange rates.