Facebook to Adjust Exchange Rate for Facebook Credits

Facebook has just announced that starting tonight, the exchange rate for Facebook Credits (Facebook’s virtual currency) will be changing by a factor of 10X from $0.01/credit to $0.10/credit. At the same time, Facebook Gifts prices will fall by a factor of 10, keeping gift prices effectively constant. Users’ credit balances will be adjusted as well.

Why is Facebook making the change? Facebook says it wants to “simplify the use of those credit by taking away a zero from gift prices” in order to “make sure that even the smallest amount of credits is meaningful.”

“Now

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