The Xbox Live update we've all waited for has finally gone live,. Microsoft has today released the long waited update that tranistions Micrsoft Points to your local currency.
Microsoft Clarifies "When you go to initiate a purchase or redeem a Microsoft Points card through your Xbox 360, we'll add to your Microsoft account an amount of currency equal to or greater than the Xbox Marketplace value of your Microsoft Points."
You can still buy Microsoft Points cards which will convert into your local currency once redeemed on the xbox. However Microsoft will be ending these cards and replacing them with a new Gift Card scheme at a later date.