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Cheap Big Macs Around the World

Friday, January 13, 2017 18:49
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(Before It's News)

Turkey, the UK , and Mexico (“undervalued by a whacking 55.9% against the greenback”) have gotten much cheaper over the past year.

The Big Mac index is built on the idea of purchasing-power parity, the theory that in the long run currencies will converge until the same amount of money buys the same amount of goods and services in every country. A Big Mac currently costs $5.06 in America but just 10.75 lira ($2.75) in Turkey, implying that the lira is undervalued. – Economist

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