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The
Hamburger Standard (based on Jan 15, 2003 data)
Country
BigMac Price
Actual Exchange Rate
1 USD =
Over(+) / Under(-) Valuation against
the dollar, %
Purchasing Power Price
in Local Currency
in US dollars
United States
$2.65
2.65
1.00
-
-
Argentina
Peso 3.85
1.45
Australia
A$3.20
1.14
Brazil
Real4.50
1.70
Britain
£1.99
‡
0.75
Canada
C$3.20
1.21
China
Yuan9.95
3.75
Euro area
€2.75
1.03
Hong Kong
HK$11.25
4.24
Hungary
Forint 492
186
Indonesia
Rupiah16,155
6,096
Japan
¥263
99.40
Malaysia
M$5.10
1.92
Mexico
Peso22.0
8.30
New Zealand
NZ$3.95
1.49
Poland
Zloty6.30
2.38
Russia
Rouble40.00
15.09
Singapore
s$3.30
1.24
South Africa
Rand14.05
5.3
South Korea
Won3,211
1,211
Sweden
Skr30.0
11.32
Switzerland
SFr6.35
2.40
Taiwan
NT$70.55
26.62
Thailand
Baht55.0
20.75
‡ Dollars per pound
Purchasing Power Parity (PPP): is a measure of the relative purchasing
power of different currencies. It is measured by the price of the same
goods in different countries, translated by the FX rate (or exchange rate)
of that country's currency against a "base currency".
How to read this table:
In this case, the goods is the Big Mac. For example, if a BigMac costs
€2.75 in the countries that use Euro and costs $2.65 in US, then
the PPP exchange rate would be 2.75/2.65 = 1.0377.
If the actual exchange rate is lower, then the BigMac theory says that
you should expect the value of the Euro to go up until it reaches the
PPP exchange rate. If the actual exchange rate is higher, then the BigMac
theory says that you should expect the value of the Euro to go down until
it reaches the PPP exchange rate.
The Over/Under valuation against the dollar is calculated as:
(PPP - Exchange Rate)
---------------------------------- x 100
Exchange Rate
The
Hamburger Standard (based on Jan 15, 2003 data)
