Having the store and subscriptions in local currency is needed. It can be very frustrating having my sub amount double some months because of the exchange rate between AUD and EUR. it can make it hard to manage subscriptions as I wont know how much Ill actually be charged for my sub month to month.
The store has the same issue take Fantasia for instance is 7EUR however when I purchase it I can be charged anywhere between 10-15 AUD for the purchase depending on the exchange rate at the time.
The problem isn't just with AUD but anywhere that doesn't use USD or EUR as their local currency.