Just a few hours ago a small update for Xbox Live On Xbox 360 was released, the main change in this software update is the change from Microsoft Points to real local currency. As we already know from websites in the past 80 Microsoft Points is actually $1.
Your current Microsoft Points will be automatically converted after you finish installing the software update, the points are rounded up to the nearest half a dollar or pound. For example if your current Microsoft points equal $70.43 it will round it up to $70.50.
The update is rolling out right now in some regions so if you have not already go download the update right now.