SYDNEY Cheap Men's Nike Air Max 90 Ultra SE Maroon Black , Sept. 11 (Xinhua) -- Last year Australia was the 17th cheapest country in the world to buy an iPhone, but on the eve of Apple's 2017 iPhone 8 (or iPhone X) launch, Australia has fallen to No. 25.
With many left asking the question why Australians are paying so much for the device, a new report by Commsec on Monday believed they may have found the answer.
"It could be argued the Aussie dollar is too high against major currencies on current fundamentals," Commsec economist Craig James said in the iPhone price index report.
"Certainly at current exchange rates Australian consumers would find the latest iPad or iPhone less expensive to buy in a raft of Asian countries together with the United States and Canada."
In 2016 Cheap Men's Nike Air Presto Safari Black Yellow , the Aussie dollar was buying around 0.76 U.S. cents and in the previous year, it was sitting even lower at 0.69 U.S. cents.
However, strength in commodity prices and weakness in the greenback have seen a surge in the local currency this year, with the Australian dollar around two-year highs at 80.5 U.S. cents.
On current figures, an iPhone 7 (32 GB) purchased downunder will cost 1 Cheap Men's Nike Air VaporMax Laceless Pure Platinum White ,079 Australian dollars or 869.67 U.S. dollars when adjusted with exchange rates, but in America the price is 24 percent lower at 649 U.S. dollars.
"When the currency strengthens it does pose challenges for Aussie retailers," James said.
"If they don't pass on the benefits to customers in the form of cheaper imported goods, Aussie consumers may go online and source the goods from abroad."
"Or Aussie tourists may purchase goods abroad in preference of buying goods locally."
Although many Australians may feel as though they are getting a raw deal, most analysts still expect Apple's new model to secure record sales downunder.
A boost is much needed for the brand Cheap Men's Nike Air VaporMax Laceless Black Night Black Grey , which was overtaken in global sales for the first time by Chinese smartphone giant Huawei, according to Counterpoint Research's June and July figures for 2017.
But not all currency experts agree that "over-valuation" of the Australian dollar is to blame for the inflated price of iPhones.
"The report is a measure of purchasing power parity, where one good is priced relative to another, but when it comes to things like the iPhone, where it's made and the cost of electronic goods more broadly Cheap Men's Nike Air Max 95 Ultra Essential Grey Black , they're just more expensive in Australia then they are in the U.S," IG chief market strategist Chris Weston explained to Xinhua.
"It's a structural issue, I don't think it's reflective of exchange rates or other forces, it's just a reflection that electronic goods in America have been cheaper for a long time."
"We're a massive island in the middle of nowhere, they can charge us whatever they like and we will end up paying it."
Although he disagreed with the iPhone index report's evaluation of Australia's currency Cheap Nike Air Max 95 KPU Triple Black Men's , Weston admitted the information could still be useful for Aussie consumers.
"From a trading perspective I wouldn't give it any consideration whatsoever and from a monetary policy perspective I wouldn't give it any consideration either," Weston said.
"But from a view of where in the world should I buy an iPhone, then maybe."
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KABUL, Sept. 1 (Xinhua) -- Afghans marked Eid al-Adha Cheap Men's Nike Air Max TN Plus Ultra Shoes Army Green , one of the biggest religious festivals, by attending prayers and visiting relatives throughout the country on Friday.
They offered prayers in big mosques amid tight security Friday morning.
Afghan President Ashraf Ghani took part in Eid prayers together with senior officials and cabinet members in a mosque in the Presidential Palace earlier on Friday.
"I congratulate Eid al-Adha to all my fellow Afghans and Muslims around the world too," Ghani said after offering the prayer, broadcast live by the state-run TV.
In his short speech, the Afghan leader said: "Let's also honor the sacrifices of our brave security forces and keep them in our prayers."
Following the prayers Cheap Nike Air Max Plus TN Ultra Shoes All White , the believers joined the sacrificing of animals and distributing the meat to poor families.
The annual festival, known as the Festival of Sacrifice, is observed in the Islamic world from Thursday (Aug. 31) until Sunday (Sept. 3) this year.
Muslims wear new clothes on Eid days and greet relatives and friends to boost cordial relations. Pocket money and gifts are given to children on this occasion.
To ensure security during the festival, thousands of security forces have been deployed across the country to check subversive incidents.
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