Date: 2 months ago   Category: Financial

Hryvnia exchange rate was calculated by the index of Big Mac


The Ukrainian hryvnia together with Russian ruble is recognized as one of the most underestimated world currencies. The Ukrainian hryvnia was one of the most underestimated currencies in the world in the rating of Big Mac index from the British magazine The Economist. According to the edition, since January, 2019 in Ukraine one Big Mac costs 54 hryvnias. Thus, according to rating, the cost of hryvnia is underestimated for 65.2%, and its real course on purchasing power has to be at the level of 9.7 hryvnias for dollar. Authors of a research consider the most underestimated currency Russian ruble - for 70.4%. Except the Ukrainian hryvnia and Russian ruble the most underestimated currencies the edition calls Turkish lira (for 64.2%), Argentine peso (for 64.1%) and Malaysian ringgit (for 60.6%). In the USA Big Mac can be bought for $5.58 whereas in Britain it costs 3.19 pounds. It means that the British pound is underestimated for 27%. According to rating, the Swiss franc (19%) became the most overestimated currency, were also overestimated the Norwegian and Swedish currency. Let's note, since the beginning of week hryvnia exchange rate in Ukraine began to fall, having lost more than 70 kopeks for several days. The index of Big Mac was invented by The Economist in 1986. It is based on the theory of the purchasing power parity (PPP) and is used as a comic cost index of currency. The cost of Big Mac burger in network of McDonalds fast food is the cornerstone of a research. The edition claims that this rating well shows the remote prospect of strengthening of currencies on average in the next ten years and vice versa. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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